Mayor Mike won’t be joining the Buffett bandwagon.
Bloomberg, speaking this morning on “Meet the Press,” blasted billionaire investor Warren Buffett’s call for the super-rich to pay more in taxes as political gamesmanship, and insisted any tax increases must be levelled on everyone.
“The Warren Buffett thing, that’s just theatrics,” the mayor said. “If Warren Buffett made his money from ordinary income rather than capital gains, his tax rate would be a lot higher than his secretary’s.
“In fact a very small percentage of people in this country pay a big chunk of the taxes.”
Obama responded to Buffett’s famous critique that he has a lower tax rate than his secretary by proposing an alternative minimum tax that would ensure the rich pay at least as much taxes as the middle class.
The mayor suggested a tax increase across the board of 3 percent, which he said would cost middle-class taxpayers $150 while the rich would end up paying significantly more.
The mayor also had sharp words for the latest budget deadlock in Washington over a plan to provide disaster aid and keep government agencies open.
On Friday the Democratic-led Senate blocked a House bill that would fund federal agencies and provide $3.7 billion in disaster assistance, partly paying for that aid with cuts in two Energy Department loan programs that finance technological development.
“Think about it, one month later we are a few days, a week from shutting down the government, again,” Bloomberg said. “It spooked us a month ago, it’s going to spook us now. People have no confidence that Washington, both sides of aisle, are coming together to try and do what’s right for the economy.”
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9 Responses
High incomes, in the United States, tend to come from business profits rather than from inherited wealth, high salaries, lottery winners, etc. Thus a tax focused on high income in practice is a tax on businesses, and a tax on businesses would work to hurt economic growth and creation of private sector jobs. Better to let the “rich” pay more taxes, rather than have higher unemployment (as is the case in countries with higher tax rates). In other words, I’ld rather have my middle class job than be on welfare, even if the owners of major business get to live like kings (rather than live merely as princes).
That’s funny, and he’s not even embaressed of it.
He’s saying: “I’m willing to pay more only if the little guy also does!”….
Showing his true colors as usual.
So now bloomy know what it feel s like when other ppl try sticking their hands in your pocket
So Bloomy is a leftist only when it doesn’t involve HIS money. Er iz git mit yenims gelt. How typical of the uber left!!
The left MUST be defeated!
True Mark ever liberal love to spend, someone else money never his own money.
Hey, get off his back – the poor guy also has to pay property taxes in Bermuda – YOU don’t!
His arrogance the Mayor has no problem over-burdening all his constituents equally by raising taxes, fines, tolls, penalties etc. Of course it seems fair for everyone to pay the same except that when a $30k per year earner has to pay a $125 fine vs a $500k per year earner is it really fair? Obviously we can’t set fines at different levels for different income earners but they should take in to consideration the low income earners when setting fines & penalties in the first place. Taxes however can & maybe should be set based on level of income. That being said I’m against any raising of any taxes at all at this time. Rather cut spending. Then cut some more then some more & more until the trillions of $$$ collected from the American people actually is enough to cover the spending.
If you can’t pay the fine, don’t do the crime.