This Is Not Class Warfare, But Republican Millionaires Claim Financial Hardship

Barack Obama says, “This is not class warfare; it’s math.”

“Middle class families shouldn’t pay higher taxes than millionaires and billionaires,” the president declared. “That’s pretty straightforward. It’s hard to argue against that. Warren Buffett’s secretary shouldn’t pay a higher tax rate than Warren Buffett. There’s no justification for it.”

“Anybody who says we can’t change the tax code to correct that, anyone who has signed some pledge to protect every single tax loophole so long as they live, they should be called out. They should have to defend that unfairness,” he added. “If their pledge [is] to keep that kind of unfairness in place, they should remember the last time I checked, the only pledge that really matters is the pledge we make to uphold the Constitution.”

“We’re already hearing the usual defenders of these kind of loopholes saying this is just class warfare. I reject the idea that asking a hedge fund manager to pay the same tax rate at a plumber or teacher is class warfare. I think it’s just the the right thing to do,” he said.

“Both parties agree that we need to reduce the deficit by the same amount, by $4 trillion. So what choices are we going to make to reach that goal? Either we ask the wealthiest Americans to pay their fair share in taxes or we ask seniors to pay more for Medicare. We can’t afford to do both. Either we gut education and medical research or we’ve got to reform the tax code so that most profitable corporations have to give up tax loopholes that other companies don’t get. We can’t afford to do both. This is not class warfare; it’s math.”

Some Republicans not only see this as class warfare but as unfair treatment of  them.  As seen in the video above, Rep. John Fleming (R-LA)  complains that “by the time I feed my family, I have maybe $400,000 left over.”

Of course millionaires like Fleming are the exception. Most small businessmen, the job creators, make far less than he does and aren’t affected by the proposed tax increase on millionaires. Besides, historically there is no evidence that higher taxes reduce hiring. If I need an employee for my office, I’ll hire somebody. The tax rates do not weigh into the decision.

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2 Comments

  1. 1
    John Sonntag says:

    This Is Not Class Warfare, But Republican Millionaires Claim Financial Hardship – http://t.co/NeoHCaeN

  2. 2
    John Chase Maxwell says:

    This Is Not Class Warfare, But Republican Millionaires Claim Financial Hardship – http://t.co/nJgix3So

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