Orrin Hatch: “The essence of the amendment is a marginal tax rate hike on taxpayers earning more than $1 million. It has been dubbed…”

“The essence of the amendment is a marginal tax rate hike on taxpayers earning more than $1 million. It has been dubbed the ``millionaires' tax.'' Folks on the other side must know two things. One, this may be well designed from the other side's political viewpoint. Supporting the tax probably registers well with some of the Democratic polling mavens. By the same token, these polling mavens might be indicating to their patrons that this lameduck session vote might supply some good campaign material. As the debate ensued this past week, it almost seemed as though my friends on the other side were giddily rubbing their hands together. Maybe they view this vote as the equivalent of a Hanukkah gift or Christmas present. But their holiday political joy stands in sharp contrast to the dreary situation facing America's unemployed. Two years of wall-to-wall Democratic rule has only made the situation worse. There is a second thing my friends on the other side must know. They know Senator Schumer's amendment will surely fail. Does anybody doubt it? Thirty-three days ago, the American people sent a message: Work together. Take care of the people's business. Nothing is more fundamental to the people's business than how much they are taxed.”