In Latest Bout Of Class Warfare, Multi-Millionaire Harry Reid Seeks To Replace Buffett Tax Proposal With 5% Millionaire Surtax

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Zero Hedge
Wednesday, October 5, 2011

Confirming that one has to be a billionaire or at least a multi-millionaire to be an applicant for the Tax Czar position under the Teleprompted Wealth Readjuster, is the latest sheer class warfare idiocy out of tax expert du jour Harry Reid, who has proposed an overhaul of the Obama tax bill with one in which millionaires end up paying a 5% surtax.

National Journal reports: “Senate Democrats will replace tax increases proposed by President Obama to pay for his $445 billion jobs bill with a more politically popular tax increase on millionaires, Senate Majority Leader Harry Reid, D-Nev., said on Wednesday.

“When Democrats bring this common-sense jobs legislation to the floor, we’ll ask Americans who make more than a million dollars a year to contribute a little more,” Reid said in a morning floor speech. He said he hopes to set up a vote on the revamped jobs bill “within the next few days.” That means he will seek action after the Senate passes a China currency bill and before Senate action on three free trade bills. Reid and Democratic aides have said they planned to alter the pay-fors proposed by Obama to win support of Democrats wary of the tax increases.

Reid and other Democrats noted that raising taxes on millionaires polls well, even among GOP voters.” Why yes, Harry, please go ahead and create some more class hatred. You should even bring your agenda down to Wall Street and threaten to occupy Wall Street if your demands are not met. But before you do, please make sure you create a poster which highlights not only how much money you have raised from corporate interests during your career, but specifically how much has come from the “Securities and Interest” industry. We are sure you will fit right in with your sincere populist demands.

In Latest Bout Of Class Warfare, Multi Millionaire Harry Reid Seeks To Replace Buffett Tax Proposal With 5% Millionaire Surtax Reid

Wait, class warfare? How dare we. Ok, we don’t have a Ph.D., and don’t want to come off as racist…. so we will just leave the allegations to these hard core Obama fans:

Robert Johnson (left), business magnate and founder of Black Entertainment Television (BET), has joined the mounting list of CEOs and business leaders who are questioning President Obama’s incessant demagoguing of America’s wealthy. On “Fox News Sunday,” Johnson suggested that the President “recalibrate his message,” so as not to “demean” or “attack” the achievements of so many hardworking Americans. “I’ve earned my right to fly private if I choose to do so,” he declared, “and by attacking me, [Obama] is not going to convince me that I should take a bigger hit because I happen to be wealthy.”

Although Johnson did not directly address President Obama’s “Buffett Rule” (a proposal that would allow millionaires to pay a lesser share of their income in taxes than middle-income earners pay, such as Warren Buffett’s secretary), he grimaced at the notion of raising taxes on the wealthy, as he described how he joined the business world to “create jobs and opportunity [and] create value for myself and my investors.” Raising taxes and alienating America’s job producers would only suppress such ambition, he implied.

Another wealthy businessman and previous Obama supporter, former AOL executive Ted Leonsis, attacked the President’s new tax proposal in a Sept. 25 blog, titled, “Class Warfare — Yuck!” “Economic success has somehow become the new boogie man,” Leonsis writes, adding that “some in the Democratic Party are now casting about for enemies, and business leaders and anyone who has achieved success in terms of rank or fiscal success are being cast as a bad guy in a black hat.”

During an interview last week with CBS News, the BET founder took a broader tone with the federal government, arguing that the political process is too polarized, and thus has taken a toll on the economy. “I’ve been in business for over 30 years [and] I’ve never seen a time when there’s been more zero-sum game mentality in the United States among political parties,” he told CBS’s Scott Pelley during the interview.

Johnson expounded the idea that from a business standpoint, if one saw two parties arguing so relentlessly, one would not want to conduct business with either of them, but would find other parties with which to work. “And you know what you find, the Chinese who want to do business. You find the Vietnamese who want to do business. You find the Brazilians. You find the Indians want to do business with you.”


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13 Responses to “In Latest Bout Of Class Warfare, Multi-Millionaire Harry Reid Seeks To Replace Buffett Tax Proposal With 5% Millionaire Surtax”

  1. i no this is off topic,but how about a lawsuit for any citizen killed,because of laws restricting free carry of firearms……how many people,would have had a chance to defend themselves,but were more afraid of the law?.

    BYTHETWILIGHTdotNET Reply:
    October 5th, 2011 at 3:45 pm

    How about the ‘behead the billionaire’ tax, where we behead the billionaire and keep his massive estate for ourselves?

    I think honestly the accumulation of money such as that shows really signs of psychopathy and we should have trials and mental examinations for these people (even though they would probably rig them).

    I think anyone making more than one million dollars in a life time, in most cases, has a few screws loose. In most cases this is the case, though some exceptions are obvious, the less as you go up the train of income.

  2. harry is a ghoul.

  3. We all know the rich can get taxed at 99% and end up paying 26 cents in income taxes after Deductions and Exceptions and who knows what else.

    NOTHING will change by these CLOWNS. This is just smoke and mirrors, or hemming and hawing, by globalist LIARS laughing all the way to the bank.

  4. Do you really think this is going to happen? or have any results?

    Go to: Dailyjobcuts.com

    .

  5. Dirtbag Reid made $1.1 million off a land swindle in 2004…
    off of land he hadn’t owned for three years

    Even Rosanne Barr couldn’t re-educate this crook

  6. Ted Leonsis quote “Economic success has somehow become the new boogie man,” Mr. Leonsis, great Economic success can also mean some things were overlooked along the way.

  7. i think scraping the entire system and returning to the constitution is a better idea.

    treason trials, deportations and confinscation of ill gotten wealth would produce far my income then this little charade.

  8. Im all for a class war.

    Im about ready to give up on alex …

    dhsn Reply:
    October 5th, 2011 at 4:20 pm

    Think about it. The Billionaires will buy the best mercenaries, the millionaires get next best, and people like you and me will be going against the crack-heads on our own because even dopey dopers know going against the mercenaries is a death sentence.

  9. People have no fucking clue about anything.

  10. I’m all for taxing the rich more. Come on, Prison Planet people, the gap between the rich and poor has widened over the last 30 years, and it is no coincidence that the rich have had tax cuts over much of this time. The “democratic” part of our “democratic republic” will die if the middle class withers away. At our most prosperous time–post WWII–corporate tax rates were at 70% (though with breaks they got it down to around 50%).

  11. How about a billionaire/trillionaire tax ??

    That would raise loads of revenue.It makes perfect sense to tax those that hold 98 percent of the wealth.

    How about taxing corporations like Google etc etc ??

    Anyone who wants to pay off the debt has to agree that both of these ideas would work.

    How about reintroducing the manufacturing base that was sent overseas and making the US competitive again which would result in prosperity which = $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

    How about it Reid ???

    How about chasing Warren Buffet for some taxes ???

    Wareen Buffet takes after his name where for a fixed price you can eat and take as much as you like.

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