Posted on 09/20/2011 10:06:07 AM PDT by Colonel Kangaroo
Rep. John Fleming, a Louisiana Republican who owns a string of Subway and UPS franchises, was on MSNBC this morning to explain how earning $6.3 million a year—which he did in 2010—isn't all it's cracked up to be and to tell Barack Obama to lay off the class warfare. For instance: $200,000 of that goes to food. Being "rich" doesn't sound so great now, does it? Here's how Fleming put it:
I would say that...my net income—[t]he amount that I have to reinvest in my business and feed my family—is more like $600,000 of that $6.3 million. And so by the time I feed my family I have maybe $400,000 left over.
See? This guy's barely keeping his chin above water! He can even hold onto a lousy 600 grand without his enormous family of ravenous truffle addicts whittling it down to just $400,000. So how many kids does it take to consume four times the U.S. median household income in food each year?
None. According to his bio, Fleming is "married to his wife Cindy for 30 years and the father of four adult children." Maybe he sends them each like 12 gourmet fruit baskets a day, every day.
He must be eating waygu steak and drinking vintage wine with every meal, including breakfast.
Still, it’s his money, the government has no particular right to it.
No wonder we can't balance the federal budget. This guy could be a strong contender for the out of touch congressman poster boy
He’s a dumbass—you never argue on the opponents terms.
Instead you talk about the fact that you already pay more than everyone else. And that a more fair system would be a flatter tax with less exemptions or a sales tax only.
Heck even herman cains 999 plan is better than what we have today.
His point is valid; yes his chains earned $6.3 Million, from which he must pay his employees, pay income tax, pay for improvements/maintenance, flood/fire/property insurance, food costs, property taxes, advertizing, franchising fees and various manditory legal and administration fees.
Does he clear $6.3 Million? Based upon what he said - no. But, he also doesn’t say that he placed a substancial amount of his personal money at risk to start this business; that he gainfully employs several people, provides a necessary service and pays taxes that support this house of cards.
I can see you don’t know Southern. “Feed my family does not mean literally “feed my family.” it comes from the old days when one worked a farm. It means take care of his family, and that might mean for instance,also sending his grandkids to private schools to escape the horrific public ones.
It's his money and making money is not immoral if obtained honestly. He would have been better served to have stuck to that principle instead of being distressed on having to rough it on $200K.
Sure I know Southern. I was born and bred in Alabama. Still, even so, that’s a pretty good amount of money to need for family expenses.
Let me give you a Southern expression, “He’s living pretty high on the hog”.
Still, I don’t begrudge him his money. And I understand his business concerns. I was just having a little joke.
I don’t see why you’re so negative about this guy.
He sounds like one hard-working citizen. He has a bunch of UPS franchises and Subway shops.
Can you imagine how much hard work goes into handling just one small business? Can you imagine how much work goes into running for a congressional seat? Can you imagine how difficult it is to find and hire good workers? Have you ever done anything like that?
It’s a lot easier to sit at the computer and make disparaging remarks about someone who is working hard and is responsible for providing jobs to scores of people.
It is none of anyones business how much he spends on food unless the taxpayer’s are paying for it! He can spend whatever the hell he wants on anything he wants as long as he makes it.
how many people is he feeding? what are the circumstances?? the guy’s a millionaire. if he wants to eat truffles and caviar, he can, but I bety he’s feeding a lot of people on that cash.
By the way, where is “Aunt Esther” been lately? People want to know where she is and how much money of ours she’s spending.
Since we have an idiot interviewing him and more idiots trying to report what he said it doesn’t suprise me that the story is confusing!
Besides the fact that he employees OVER 500 employees, how many has Obama ever employeed out of his OWN MONEY?! Yet, these liberals are bitching about how much this man spends on his family with his OWN MONEY!
******
host Chris Jansing said that Fleming has an income of more than $6 million. Fleming quickly corrected her, saying he actually takes in a fraction of that gross amount—about $600,000.
“The amount that I have to reinvest in my business and feed my family is more like $600,000 of that $6.3 million,” Fleming explained. “So by the time I feed my family I have, maybe, $400,000 left over to invest in new locations, upgrade my locations, buy more equipment.”
http://news.yahoo.com/blogs/ticket/rep-john-fleming-field-criticism-over-600k-income-153305241.html
ansing went on to tell Fleming that his annual personal income of $200,000 from those ventures was “not exactly a sympathetic position” from which to make the case for lower taxes on the wealthy.
“You do understand, congressman, that the average person out there who’s making maybe 40, 50, $60,000 out there, when they hear you only have $400,000 left over, it’s not exactly a sympathetic position,” she said. “You understand that?”
“Class warfare’s never created a job,” Fleming responded. “And that’s people that will not get jobs. This is all about creating jobs, Chris, this is not about attacking people who make certain incomes. You know in this country, most people feel that being successful in their business is a virtue, not a vice, and once we begin to identify it as a vice, this country is going down.”
Why don’t they track him down and beat him with clubs. Then take his stuff and give it to his staff. Class warfare is really ramping up.
He has $400,000 left after his home expenses of $200,000 to reinvest in his business!
“I have, maybe, $400,000 left over to invest in new locations, upgrade my locations, buy more equipment.”
It is not rocket science, liberals!
Agreed. Pointing out that less than 10% of that $6.3 mil was actually left over after meeting the minimum demands of the business would have laid the foundation for a powerful argument.
He put his foot in it by “poor-mouthing” as we say back home. Now his remarks will be twisted to imply that he spends $16k a month on food* and is whining about it.
*Though he specified “food”, saying that he would only have $400k left to invest back in the business would actually imply that all of his family expenses - mortgage, utilities, savings, etc. - would total $200k.
He is saying he nets $600,000. After he feeds his family he has $400,000 left over to put back into his business. He is saying feeding his family but he means, housing,clothing, food healthcare, etc. He spends $200,000 a year on his family’s needs. He misspoke but you can tell what he meant.
I am thinking 6.3 million and so little net does not make him a very good business person. But I suspect he takes a draw and the rest goes into other accounts or biz ventures.
Another thing is this stupid MSNBC woman does not seem to understand gross and net profits. Or maybe progressives will want to tax gross profits at some point too. Knowing their greed and envy, I wouldn’t put it past him.
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