I think even the top 1% draw the line somewhere
During an interview this week with a French TV station Will Smith, who supports both President Obama and the Buffet Rule, said he also supported the idea of paying higher taxes. He was shocked when the reporter told him about a proposal from France’s new president to raise the marginal tax rate to 75 percent.
Then the interviewer told Smith if he lived in France he would pay a 75 percent tax rate on income over one million Euros.
“Seventy-five?” Smith gasped. “Yeah, that’s different, that’s different. Yeah, 75. Well, you know, God bless America.”
That is what we will be paying if we continue the road we are on. We cannot support all of our out of control entitlements without raising taxes since the current administration refuses to implement a budget and seriously cut expenditures. When the taxpayers quit paying and/or leave the country, i.e. Facebook’s own Eduardo Saverin, we will find ourselves working for the Chinese government for nothing!
- Famous actor supporting higher taxes on the wealthy not a fan of new French President’s proposed tax rate (michellemalkin.com)
- Will Smith to Obama: Raise My Taxes! (thehollywoodgossip.com)
- It’s Not Very Austere Until You Actually Cut Stuff: (brothersjuddblog.com)
- Eduardo Saverin Isn’t the Only Rich Guy Defriending the U.S. (theatlantic.com)