Rich Obama fundraiser says rich already pay their fair share.....

[matmar]

http://www.huffingtonpost.com/2012/07/10/r-donahue-pebles-obama-fundraiser_n_1663361.html

"I'm so tired of hearing that the rich are not paying their fair share of taxes. Yeah we are,"

"So to say that wealthy individuals are not paying their fair is unfair and delusional,"

"We cannot attack wealth creation and attack people just because they're wealthy and we can't attack wealth and success, and making that a bad thing. It's like going to school and the bullies picking on the A-students, calling them nerds and so forth. So, what do we want, a whole school of dummies?"

And Peebles also defended Romney from the Obama campaign's criticisms over the candidate's bank accounts in Switzerland and the Cayman Islands.

"They weren't illegal. There's not one allegation that he didn't pay his fair share of taxes. I will guarantee you that if you look at a large number of companies that the CEOs and so forth are supportive of this president, I would bet you that many of them have bank accounts in other countries," Peebles said. "Offshore, when it came to organized crime and illegal activity, to have bank accounts offshore, that's one thing, and that in conjunction with criminal conduct is something to criticize. Legal bank accounts offshore, there is not anything to criticize about."


.......disgusting, greedy, bastard.

The wealthy aren't "being attacked just because they are wealthy," asshole. It's because people like you have rigged the system.

[GarroHorus]

1. So Romney paying an effective federal tax rate of 13% is "paying his fair share",...

while me paying an effective tax rate of north of 27% is not????

[matmar]

3. Watch it. You're being "a bully" and being "delusional"

[NashuaDW]

12. Misleading terms ....

Your use of "effective tax rate" merges the tax rates between salary and dividends.

If Gov Romney (or anyone else) had all of his income from salary - they would pay a much higher rate.

Gov Romney, Mr Buffet, Mr Gates all receive the bulk of their income from dividends -- taxed at a much lower rate.

The argument is that dividends (generated by investment of already taxed salary) are taxed at a lower rate to encourage investment.

If, at the end of the month, I have $700 left ($1000 before taxes) I can invest it (put it at risk) and if my investment pays off .... I get a tax break on the rewards of my investment.

Doing an apples to oranges comparison clouds the water.

Let's simplify the tax code and decide how we want to tax and what rate.

[GarroHorus]

15. Bullshit, income is income

The only reason dividend income is taxed differently from any other income is because rich people who make the bulk of their income through dividends bought off politicians to make it so. The arguments about risk are bogus. I take a risk accepting employment with a corporation and I would argue my risk is far greater than the rich man investing his money because I'm betting everything on that job and corporation while the rich man is only risking a portion of his net worth.

The argument about encouraging investment is also bogus. It does nothing to encourage investment. The rich man was going to invest regardless, he's just greedy so bought off the politicians to get his income taxes lower than the common man's.

It's apples to apples because income is income.

Welcome to DU, enjoy your time however long that may be.

[bluerum]

2. Just. Doesn't. Get. It.

Probably never will.

[teddy51]

4. So why is this door knob raising money for Obama, when he should be working for Romney?

[Wilms]

6. Pro Choice Republicans

[Tierra_y_Libertad]

5. So, when is he going to renounce his citizenship and move to Austria?

[Fumesucker]

7. Inside the tent pissing out or outside the tent pissing in?

Those are the choices with respect to this entitled piece of work.

I'm really not sure which I think is preferable, there are certainly arguable points on either side of the issue.

[L0oniX]

8. You'd think they'd be willing to sell their yachts and replace them with Donzi's.

[Raine]

9. I guess I am "delusional" because I'll always think it's "unfair"

that people that who have benefited the most from this country refuse to pay for what they take from this country.

I had an uncle who was really wealthy but he said he was more than happy to pay taxes. My uncle was grateful he was making that much money that he could pay taxes. Maybe the difference was he started out poor and made the money himself and remembered what it was like to struggle. Anyway I wish more people were like him, he was generous to others too.

[KT2000]

10. the dishonest argument

they want to ignore the many tax breaks that reduce their tax liability. Congress has added to them for decades. People like this idiot want us to believe that the wealthy pay the full tax rate and are put upon if that rate is raised. This is the talking point that is repeated endelessly in media.
Wonder what this person's adjusted tax rate was on their last return. We should all be allowed to see it.

[progressivebydesign]

11. how hard did they need to dig to find an Obama donor like that??

You know, you gotta have that false equivalency thing in the media...

Oh, and apparently on DU lately, too. Why are we seeing this story exactly??

[Huey P. Long]

13. They seem to be running the show.

Is that the first thing you think of? Not the fact itself is true?

[MadHound]

14. Given how the rich donate to both political parties

Just to make sure and have that all precious influence no matter who wins, not very hard or deep. Go to Open Secrets and you can see for yourself.

[HughBeaumont]

16. It's not the wealth, it's the inequality . . . .

. . . and the truism that the Peebles, Trumps and Adelsons of the world can be doing far, FAR more with their wealth and influence instead of merely hoarding and growing it, uncirculated. They made their wealth through use of public means and customers who also use public means. Just as he can say "paying their fair share" (which they DO not do) wouldn't make a dent in the National Debt (it would, since you're all collectively keeping billions out of circulation each year you're not fairly taxed), I can come back and say that it wouldn't make a dent in their vast fortunes. In other words, they wouldn't miss a damned DIME.

[backtoblue]

17. "So, what do we want, a whole school of dummies?"

Not only greedy, but a greedy asshole