Levin Proposes 'One Year Tax Holiday' For Those Making $200,000 Or Less

David James
By David James | July 10, 2012 | 11:40 AM EDT

Last night, radio host Mark Levin announced his “Levin Pre- Election Tax Proposal”, calling for a one year federal tax holiday for individuals earning $200,000 or less, and for joint and business returns with an income of $250,000 or less.

Levin was speaking after President Obama proposed yesterday to extend the Bush tax cuts for those earning $250,000 or less, but not for those earning over that amount:

“See folks, I can come up with a plan, too. Here’s one, you want to hear it? Because we can all play this game. Here’s the ‘Levin Pre- Election Tax Proposal.’

“A one year tax holiday from all federal taxes of any kind- income, payroll, capital gains, death - you name it. Excuse me, I’m all choked up. For all tax filers, with adjusted gross incomes of $200,000 or less, and all joint and business returns with adjusted gross incomes of $250,000 or less. And the status quo will apply to all filers earning above these thresholds.

“So, anybody earning above the threshold - individuals, families, businesses - you live under the Bush tax cuts. The rest of us - we pay nothing!”

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