Millionaire Tax Hike Debate Gets MIxed Reaction in Omaha

Jonathan Athens

OMAHA (KPTM) -- Raising taxes on millionaires has populist appeal during the Great Recession but for the most part it's a political football between Republicans and Democrats.

And according to one economist, it's not going to happen.

"It's more symbolic than real, more political than economic," said Ernie Goss, Creighton University Economist and Professor of Business.

In his jobs plan, President Obama took a cue from the Oracle of Omaha, Warren Buffet---Obama is proposing to raise taxes on those making more than $1 million per year.

Earlier this month Buffett said the federal government should raise taxes on people in his income bracket. His comments triggered more partisan debates in Washington, with Republicans and Democrats again at opposite sides of the issues.

The same division is playing out in Omaha.

Kieran McCarney, executive director of the Douglas County Democrats, said he thinks it's time for millionaires to pay their fair share.

Scott Peterson, chairman of the Douglas County Republican Party, said he thinks raising taxes during these tough times is not a good idea.

President Obama is traveling the country trying to sell the public on his jobs plan.