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Miami Labor Citizen
Miami, Dade County, Florida
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Proposed 'millionaires' amendment' to U.S. Constitution would cap income taxes at 25%, shifting burden to lower incomes; 24 states have approved, needing 12 more for a national convention.
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A NOTHER scheme to shift the burden of taxes onto the shoulders of the little fellow has been hatched up. It is the so-called "millionaires' amendment" to the U. S. Constitution. It would prohibit the government from taxing incomes—even the biggest—more than 25 percent.
Already 24 states have okayed the proposed amendment. If 12 more states—or a total of 36—approve it, Congress will have to call a national convention to prepare the measure for final action by the states.
As the Louisville Times says: "One doesn't need field glasses to see what such a scheme would do to the nation's tax structure. It would mean shifting an undue portion of the tax burden onto those in the low income brackets."
Here are some of the state legislatures which have approved the "millionaire's amendment": Alabama, Arkansas, Delaware, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Mississippi, Montana, Nebraska, New Hampshire, New Jersey, Pennsylvania, Texas, Wisconsin, Wyoming, and the most
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24 states have approved the amendment; 12 more needed for congress to call a national convention.
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A proposed amendment to the U.S. Constitution, called the 'millionaires' amendment,' would prohibit taxing incomes more than 25 percent. It has been approved by 24 states including Alabama, Arkansas, Delaware, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Mississippi, Montana, Nebraska, New Hampshire, New Jersey, Pennsylvania, Texas, Wisconsin, Wyoming. Critics argue it shifts tax burden to low income brackets.