Maher on rich vs. job creators: “Tax me at a higher rate if you like, you’re practically firing yourselves.”

Maher: [The GOP presidential candidates] have made me see I’m not really rich — I’m something far more noble. I’m a job creator! (Angelic music) …But you know what? Just by suggesting, just by bringing it up, that he is going to tax me more, Comrade Obama has created an atmosphere of uncertainty that makes me skittish about creating more jobs. Yeah. I have been so freaked out, today at breakfast I could barely butter my gold.


Maher: [...] I have been so shitting in my pants about this uncertainty thing, that yesterday I let go a dozen essential workers at my compound, including my Tivo programmer, my manscaper, the liposuctionist, my gardener’s personal trainer, my dog whisperer, the look-alike I hire to foil assassination attempts, my private farmer, the lady who dispenses the hand-sanitizer after our pre-show prayer circle, the girl I pay to mistake me for Jon Hamm, and the guy who takes care of the shark tank…

[...] The next time you hear anyone say “job creator,” I want you to picture this:

Midnight, December 31, 2012

Even though I’m disappointed that the rich aren’t getting their tax cuts revoked now, here’s why I’m not losing my mind over it either. This is only the first phase of an agreed to process. Via liberalsarecool:

We all know increased revenues should have been part of the deal, but keep in mind, Bush tax cuts are set to expire on New Year’s Eve 2012.

Jon Chait, who wants all of the Bush-era rates to expire, had a good item on this earlier.

Obama has one golden ticket out of the revenue dilemma. As I’ve written multiple times, the expiration of the Bush tax cuts gives him enormous leverage over the GOP. Republicans signaled last year they’d rather kill off the entire Bush tax cuts than sacrifice the portion that only benefits the rich. Holding firm on the Bush tax cuts would let Obama maneuver Republicans into the position of killing off all the Bush tax cuts. That would provide all the revenue he needs — some $4 trillion over a decade, as opposed to the $800 billion he’d raise merely by ending tax cuts for the rich.

What’s more, going to the mat over the Bush tax cuts would provide Obama with a strong political message for 2012. He can’t run on the economy. He needs a contrast election. Republicans will try to pass some version of the Paul Ryan budget, cutting taxes for the most affluent and laying waste to Medicare and Medicaid. Obama can run as the candidate insisting on shared sacrifice — and having already agreed to $3 trillion in spending cuts would give him credible to draw that line.

Obama knows he can get revenue by simply watching Bush-era tax cuts expire on schedule.

If all the tax cuts expire at midnight on 12/31/12, will the teaparty base be okay with their taxes increasing along with the wealthy, to be ‘fair’? It’ll be interesting to find out.

(Video) New Rule: Rich People Who Complain About Being Vilified Should Be Vilified

From HuffPo: New Rule: Rich People Who Complain About Being Vilified Should Be Vilified

New Rule: The next rich person who publicly complains about being vilified by the Obama administration must be publicly vilified by the Obama administration. It’s so hard for one person to tell another person what constitutes being “rich”, or what tax rate is “too much.” But I’ve done some math that indicates that, considering the hole this country is in, if you are earning more than a million dollars a year and are complaining about a 3.6% tax increase, then you are by definition a greedy asshole.

And let’s be clear: that’s 3.6% only on income above 250 grand — your first 250, that’s still on the house. Now, this week we got some horrible news: that one in seven Americans are now living below the poverty line. But I want to point you to an American who is truly suffering: Ben Stein. You know Ben Stein, the guy who got rich because when he talks it sounds so boring it’s actually funny. He had a game show on Comedy Central, does eye drop commercials, doesn’t believe in evolution? Yeah, that asshole. I kid Ben — so, the other day Ben wrote an article about his struggle. His struggle as a wealthy person facing the prospect of a slightly higher marginal tax rate. Specifically, Ben said that when he was finished paying taxes and his agents, he was left with only 35 cents for every dollar he earned. Which is shocking, Ben Stein has an agent? I didn’t know Broadway Danny Rose was still working. Continue reading

How much did you donate to Bush’s tax cuts for the rich?

About $50 a week. For 8 years. That’s $21,000.

liberalsarecool:

Read this article on how Bush tax cuts reduced Americans $2.7 trillion in income.

“Average incomes fell. Average taxpayer income was down $3,512, or 5.7 percent, in 2008 compared with 2000, President Bush’s own benchmark year for his promises of prosperity through tax cuts.

Had incomes stayed at 2000 levels, the average taxpayer would have earned almost $21,000 more over those eight years. That’s almost $50 per week.”

[My emphasis added.] This article is by David Cay Johnston, who appeared on Countdown to discuss this information with Keith Olbermann. You can watch it here.

Bill Maher: New Rule: Rich People Who Complain About Being Vilified Should Be Vilified

New Rule: The next rich person who publicly complains about being vilified by the Obama administration must be publicly vilified by the Obama administration. It’s so hard for one person to tell another person what constitutes being “rich”, or what tax rate is “too much.” But I’ve done some math that indicates that, considering the hole this country is in, if you are earning more than a million dollars a year and are complaining about a 3.6% tax increase, then you are by definition a greedy asshole.

New Rule: Rich People Who Complain About Being Vilified Should Be Vilified

The United States of Capitalism

Via Balloon Juice via Michael Snyder:

The Middle Class in America Is Radically Shrinking. Here Are the Stats to Prove it

The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace.

So why are we witnessing such fundamental changes? Well, the globalism and “free trade” that our politicians and business leaders insisted would be so good for us have had some rather nasty side effects. It turns out that they didn’t tell us that the “global economy” would mean that middle class American workers would eventually have to directly compete for jobs with people on the other side of the world where there is no minimum wage and very few regulations. The big global corporations have greatly benefited by exploiting third world labor pools over the last several decades, but middle class American workers have increasingly found things to be very tough.

Here are the statistics to prove it:

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•    83 percent of all U.S. stocks are in the hands of 1 percent of the people.
•    61 percent of Americans “always or usually” live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
•    66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
•    36 percent of Americans say that they don’t contribute anything to retirement savings.
•    A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
•    24 percent of American workers say that they have postponed their planned retirement age in the past year.
•    Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
•    Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
•    For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
•    In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
•    As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
•    The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
•    Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
•    In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
•    The top 1 percent of U.S. households own nearly twice as much of America’s corporate wealth as they did just 15 years ago.
•    In America today, the average time needed to find a job has risen to a record 35.2 weeks.
•    More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
•    For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
•    This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
•    Approximately 21 percent of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years.
•    Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.
•    The top 10 percent of Americans now earn around 50 percent of our national income.

Get ready!

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