Posted on 07/09/2011 3:47:22 PM PDT by mdittmar
Reid: Republicans Putting The Good Of Millionaires And Billionaires Ahead Of The Good Of This Great Nation
Washington, D.C. – Nevada Senator Harry Reid made the following remarks today on the need for shared sacrifice in deficit reduction efforts. Below are his remarks as prepared for delivery:
Today the Senate will consider legislation calling on millionaires and billionaires to contribute to this country’s effort to reduce our deficit.
Republicans have already asked the poor, the middle class, children and seniors to make sacrifices to help get our fiscal house in order. This legislation would reaffirm the Senate’s commitment to ensuring the extremely wealthy are asked to make similar sacrifices.
This principle – that all Americans should contribute their fair share as we work together to reduce the deficit – is so common sense it should go without saying. Yet Republicans have boasted about their opposition to having the wealthy contribute their fair share.
This is the simple, straight-forward statement my Republican colleagues oppose: “Any agreement to reduce the budget deficit should require that those earning $1 million or more per year make a more meaningful contribution to the deficit reduction effort.” My Republican colleagues reject that.
Democrats are willing to go on the record saying we believe all Americans – including those who can afford private jets and yachts – should contribute to the collective effort to reduce the deficit. The question is, why aren’t Republicans willing to do the same?
They say it’s because they’re looking out for the people. That claim is ridiculous. It is without foundation.
Let’s talk about the millionaires and billionaires Republicans are determined to protect above all else. Less than one quarter of one percent of tax returns filed in the United States each year belong to people making more than $1 million.
These same people are among the one percent of Americans who control half the country’s wealth.
We are talking about the Warren Buffets of the world. Warren Buffet is my friend, and I have great respect for him. But he is very, very wealthy.
So, what does Warren Buffet, the third richest man in the world, say about contributing his fair share? He welcomes it.
And Buffet criticized a system in which his secretary gives a greater share of her income to the government each year than this man worth $50 billion.
“If you’re in the luckiest 1 percent of humanity, you owe it to the rest of humanity to think about the other 99 percent.” That’s what Warren Buffet said about contributing his fair share.
Since the late 1970’s, incomes for the lucky one percent in America have risen by 281 percent.
The last three decades have been a very, very good time for the very, very wealthy.
President George W. Bush called these people the “Haves and Have-mores.” He also called them his base. And right now the Republican Party is putting what is good for this very small base ahead of what is good for this great nation.
The legislation before us asks only this: that each American be part of the solution rather than of part of the problem.
In poll after poll, Americans have endorsed this principle. They have said they believe we must address our deficit both by reducing spending and by ending tax breaks for the wealthiest citizens and corporations. Democrats have heard them.
If Warren Buffet chooses to buy a private jet – or a whole fleet of them – that’s alright. But the American taxpayers shouldn’t give him a special tax break for doing it.
This country is facing a crisis. We face mounting debt brought on by a decade of war and tax breaks for the wealthy. And we face the prospect that Republicans will force us to default on our financial obligations for the first time in our nation’s history.
Difficult choices must be made. Together we will consider cutting programs that help real people in very real ways. Eliminating tax breaks for oil companies making record profits, corporations that ship jobs overseas and the owners of private jets and yachts should be the easy part of solving this problem.
Yet Republicans walked away from the negotiating table when a solution was in sight because they said no to fairness.
Democrats had already agreed to trillions in difficult cuts in order to prevent a default crisis and avert a world-wide depression. Then Republicans walked away from the table to help the one percent of Americans lucky enough not to need any extra help.
How will Republicans explain this to their constituents back home? As middle class families struggle to make ends meet, my Republicans colleagues are risking the financial future of this country and world for the sake of people who can afford private jets and yachts. I can’t imagine that conversation.
Asking millionaires and billionaires to contribute to solving this nation’s deficit crisis is not unreasonable. It’s just plain common sense and simple fairness.
... oh wait, my name isn't 100-big-marxist-NGO-influencing george soros.
Obama stomped on, spit on and ruined Nevada and Reid stood by. The a-holes in Nevada elected this piss-ant...unbelievable...forgive me Nevadans who did not vote for him (of course those in Freepland).
The “luckiest” 1% ? Luck didn’t have a damn thing to do with it. Hard work did.
The Republican National Committee should run commercials explaining to the clueless American people that the top 1% pay 40% of all federal income taxes while the bottom 50% pay absolutely nothing. Instead, the GOP resembles Charlie Brown, running to kick the football while Lucy pulls it away.
As for the corrupt Harry Reid, that dour liar is damn lucky he’s not in a federal prison somewhere rotting.
Wouldn't this shift more of the tax burden to the avg Joe middle class citizen?
Listen to Newt Gingrich defending these corporate loopholes.
http://communities.washingtontimes.com/neighborhood/ad-lib/2011/apr/10/tax-evaders-wall-shame/
http://www.forbes.com/2010/04/01/ge-exxon-walmart-business-washington-corporate-taxes.html
Millionaire:
When Nancy Pelosi went to Copenhagen to enjoy the last few days of the two-week long Man-Caused Global Warming Climate Summit, she reserved at least 5 large luxury jet aircraft from the U.S. Air Force inventory. The 757-type aircraft only carries 45 passengers in the luxury configuration (up to 279 passengers for commercial airline use) and costs more than $10,000 per HOUR to use. It cost more than $160,000 for the round-trip, not counting flight crew accommodations and food while on the ground. The smaller Air Force luxury jets Speaker Pelosi ordered resembles the 737-type aircraft and only costs $120,000 for the round-trip, plus flight crew accommodations and food while on the ground. Of course, booze and food are extra and above these aircraft and crew costs.
As of June 2008, Pelosi’s total ‘declared’ assets were valued somewhere between $30 Million and $311 Million, according to Cybercast News Service. Do you think that one of the wealthiest of top Congressional leaders should get taxpayer-funded luxury travel accommodations?
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Teresa Heinz Kerry is refusing to release all of her tax records. Earlier estimates placed the Kerry’s wealth at $500 million dollars. But revised estimates make that look like chump change. It is estimated that the value of their holdings is between $900,000,000 and $3.2 billion dollars, that is billion with a capital B. The estimate is based on public records
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237 millionaires serving in Congress, according to 2008 figures
California’s Jane Harman (approx. $245 million), Wisconsin’s Herb Kohl (approx. $215 million), Virginia’s Mark Warner (approx. $210 million) and Massachusetts’ John Kerry (approx. $209 million).
In the executive branch, Secretary of State Hillary Clinton is the second wealthiest, with a net worth of about $21 million; she trails only Securities and Exchange Commission Chairman Mary L. Schapiro. The least wealthy administration figure is Vice President Joe Biden, whose net worth is estimated at just $27,012. (President Obama comes in at $3,670,505.)
The median reportable net worth of senators declined from $2.27 million to a still-robust $1.79 million between 2007 and 2008. Kerry, Warner, Feinstein and Sen. John McCain all experienced double-digit percentage declines in their average, estimated wealth between the two years.
The median reportable net worth for members of the House in 2008 was $622,254.
Levinthal notes that “in some cases, [lawmakers’] wealth is being derived from the very companies that in many cases benefit from the taxpayers.”
“The top companies at which members of Congress are investing, many of them are TARP recipients that have received billions and billions of dollars from you and me,” he said.
Among the companies in which members of Congress hold assets are Bank of America and Goldman Sachs.
http://www.cbsnews.com/8301-503544_162-5553408-503544.html
Everyone should pay the same percent tax on their income...regarless of how much thy earn.
And brothel-owning pimps.
Richest members of Congress...
http://www.businessinsider.com/the-richest-members-of-congress-2009-11#olympia-j-snowe-r-maine-1
I everyday wish that someone on the GOP side of the Senate would have the balls and spine to pull a Preston Brooks on Reid.... =.=
Reid was never legitimately elected...Nevadans were the victims of wholesale voter dis-enfranchisement...
courtesy the Democratic Party.
“...officials chucked an astounding 400,000 bogus registrations.”
http://dailycaller.com/2011/01/12/acorn-leader-avoids-prison-for-voter-fraud-conspiracy/
The MSM, about wholesale voter disenfranchisement....crickets.
Let’s see if Harry “stinky” Reid would support a real wealth tax on combined assets, fake foundations, etc.
They want to tax the people who want to be wealthy to prevent them from being wealthy and joining their elite club.
Oh for C’s sake. Reid has nowhere else to go so it’s back to demonizing the rich. The Marxist quivver is empty. The Marxists shot their wad on stimulus and failed. As expected, the Marxist’s are hell bent on repeating failed policies. Ideology, you see, trumps reality every time.
“millionaires”.....”billionaires”.....”corporate jet owners”.....”yacht owners”....
The Democrat talking points for the next 15 months. Every day, multiple times per day. The class warfare card — a tried and true ‘Rat special.
And the immediate answer to that would be the following:
Yacht owners - John Kerry has one he won’t dock in Mass. bacause he doesn’t want to pay the taxes on it.
millionaires”.....”billionaires” Name one, any one of the ones I hear about are all libs and do nothing but tell us to pay more taxes. F them.
”.....”corporate jet owners” - Claire McCaskil from MO
Tell you what Senator Sleazy, why done you, and the rest of the Government Parasite class, tell us what you all are going to "sacrifice" to the common good?
Fixed for accuracy.
Tell you what Senator Sleazy, why done you, and the rest of the Government Parasite class, tell us what you all are going to "sacrifice" to the common good?
Y'now what? That's a very good message for Senator Sleazy. p> The dumb bastard simply isn't good enough to be a demagogue.
EXCUSE ME? These people do not pay taxes. What percentage of zero do you have to reduce to balance this budget?
Better yet, what percentage of everything that everybody makes in an entire year would you have to donate to Harry so he can keep up his spending spree? Answer, over 100%. Rich, poor, in between, we can not make as much put together as Congress can spend.
Try it with your teenagers. Give them a credit card and bet them they cannot spend more than you put in. See how long that lasts. Might I point out, that the difference between teenagers and Congress is if you outspend your card, you get NSF and the card is refused. That never stops Congress!
I know I am preaching to the Choir here, but this inane, bold face lying just PISSES ME OFF!
Harry needs to grow up and show the integrity and common sense of a 10 year old with an allowance. Or, he need to be fired.
Democrats are willing to go on the record saying we believe all Americans – including those who can afford private jets and yachts – should contribute to the collective effort to reduce the deficit. The question is, why aren’t Republicans willing to do the same?
All Americans, Harry? ALL? So I assume that means you plan to include taxes the 50% or so that don’t pay a dime right now? Why do you hate the poor so much, Harry? Aren’t they struggling enough without you demanding they join the rest of the taxpayers to ALL do our share?
Yeah, didn’t think so.
I've never gotten a full-time job with benefits from a poor person, a middle-class person, a child, or a senior citizen who wasn't a millionaire or billionaire.
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