Thom Hartmann: Is it socialism that billionaires pay the same taxes as us?

[thomhartmann]

Run time: 10:42 https://www.youtube.com/watch?v=Apuvlg8nYVo   Posted on YouTube: August 17, 2011 By YouTube Member: TheBigPictureRT Views on YouTube: 53   Posted on DU: August 17, 2011 By DU Member: thomhartmann Views on DU: 1129

 
David Selig, Conservative Commentator joins Thom Hartmann. Is asking millionaires and billionaires in America to pay a few more taxes SOCIALISM!? Fox so-called News thinks so. You may remember yesterday - billionaire Warren Buffett - one of the richest men on the planet penned an op-ed for the New York Times in which he said, “While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks...My friends and I have been coddling enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice." Before the ink was even dry - Fox News went nuts with Eric Bolling claiming Buffet was a socialist. That's right - Warren Buffett - one of the wealthiest to ever set up shop in America - is now a Socialist according to Fox so-called News. So how can that be?

The Big Picture with Thom Hartmann on RT TV & FSTV "live" 9pm and 11pm check www.thomhartmann.com/tv for local listings

[dorksied]

1. The DISTAIN this moron spews for the 'So called Proletariat' is astounding.

[JoshieR]

2. I love how he keeps saying "Regressive Tax System"...

...as if that is how it should be. Regressive taxation simply means that as you make more money you pay less taxes. Taxes should be PROgressive. The more you make, the larger chunk you pay. There is a reason for this and it is an underlying theory behind the US tax code (absent the Bush tax cuts and other incentives for the so-called "job creators".

The reason we have child tax credits, education credits, medical deductions, etc is because our tax system is intended to strive to ensure that everyone "suffers" an equal burden from taxation. Therefore, it makes so much sense that an immensely wealthy person like Buffet would pay a higher tax rate than a poorer person since even taxing him at 60% of his income would still leave him much less "damaged" by taxes than a person making $50,000 a year.

[sulphurdunn]

4. The poor billionaire

pays the same regressive sale tax on a loaf of bread that a homeless person would if one could afford a loaf.

[fascisthunter]

3. another Silver-Spoon jackass thumbing his nose at the "little people"

take money out of the equation and what are you left with buddy?

[Stryder]

5. Always love that guest

Herb Tarlek,
Movin' up in the world.