Top Congressional Socialist Schakowsky Introduces “Tax the Rich” Bill
Posted by Jim Hoft on Friday, March 18, 2011, 5:21 AM
This is why they’re called tax-and-spend democrats…
Top Congressional Socialist and Democrat Jan Schakowsky introduced the “Tax the Rich” bill this week. Schakowsky says the bill would force the nation’s wealthy producers to “pay their share” by increasing their taxes significantly. Her socialist colleagues spoke out in favor of the new taxes.
From her website:
Income inequality in America is the worst we’ve seen it since 1928. Wages have stagnated for middle and lower income families despite enormous gains in productivity. Where has all the money gone?
“In the United States today, the richest 1% owns 34 % of our nation’s wealth – that’s more than the entire bottom 90%, who own just 29% of the country’s wealth,” said Rep. Schakowsky. “And the top one-hundredth of 1% now makes an average of $27 million per household per year. The average income for the bottom 90% of Americans? $31,244. It’s time for millionaires and billionaires to pay their fair share, which is why I introduced the Fairness in Taxation Act. This isn’t about punishment or revenge. It’s about fairness. It’s about avoiding budget cuts that harm middle class families and those who aspire to it. We can choose to cut education, job creation and health care, or we can choose to ask those who can contribute more to do so.”
…“It’s time we treated multi-millionaires the same way we treat working families – by creating a tax bracket to match their income,” said Rep. Raúl M. Grijalva (D-AZ), co-chair of the Congressional Progressive Caucus. “There’s no reason to treat the wealthiest one percent of the country any more specially than anyone else, and right now that’s exactly what our tax system is doing. The Republican war on working families means cutting from the middle and handing the savings to the top. Instead, let’s have everyone pay their fair share to create jobs and get the economy moving again.”
“Millionaires and billionaires should be giving to charity not getting it,” said Rep. Keith Ellison (D-MN), co-chair of the Congressional Progressive Caucus. “The middle class is shrinking and deficits are rising because Republicans are giving a pass to special interests who aren’t paying their fair share. This bill is part of a plan to level the playing field.”
“A tax system where families earning several thousand dollars are taxed at the same rate as millionaires is unfair, and unsustainable,” said Rep. Donna Edwards >(D-MD). “The Fairness in Taxation Act is a common sense solution to eliminating this inequality and balancing the federal budget. At a time when House Republicans are demanding that working families, teachers, and firefighters bear the burden of reducing the deficit, millionaires should be required to contribute their fair share.”
In December Schakowsky told a Russian audience that the US is a “banana republic” without wealth redistribution.
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Published May 22, 2012 at 5:04 am - 81 Comments
Mats commented:
Strange, since banana republicas are defined PRECISELY by “wealth redistributio” and “tax the rich” mentality.
Tell you what: let the dems start giving THEIR money to the “masses” and then people will know they are serious. Let’s start with George Soros giving his money to non-liberal causes.
*chirpping sound*
SSBN 627(B) commented:
“Fair” = give me what you worked for, I need it to buy votes from those who earn NOTHING. Go buy a dacha on the Crimean, commie scum.
an observer commented:
Everybody knows that (1) she and her husband are millionaires and (2) her husband (Robert Creamer) is a felon convicted of bank fraud and tax evasion, right?
And (3) that while cooling his heels in the joint, he wrote Obamacare, right?
This harridan witch should practice what she (and her convict husband) preach and turn all their money over to the Treasury.
You first, witch.
Mark1957 commented:
The communist’s in congress are trying their best to frame our massive debt as a revenue problem rather than a spending problem. The sad part is that the GOP leaders are not willing to cut spending either.
bigkahuna commented:
well agree it should be fair for all you twit….Flat tax of 15% for all no more no less
Andreas K. commented:
Because such ideas are working in Europe!
Oh wait… they’re not. Totally not. Why do you think Greece went under? Why do you think the UK is making such brutal spending cuts?
Yeah, we are taxing our rich. We’re taxing everyone everywhere. Yet the money is not enough.
Jan Schakowsky is a dumbass. Get your stupid arse over to the EU, Schakowsky, and see where your stupid ideas will lead to.
Big L commented:
these wealthy people you want to tax work a lot harder than you do,you dumb slobs.I have friends that has 3 businesses. she gets up and starts her day at 4a,. By 9am when she goesto her “day” job she already has worked a 1/2 day! They are worth about $25 million. They have friends all over the world. They can just leave.
They started with nothing.
Betsy Ross commented:
Go ahead and Tax The Rich.
Eventually you will run out of other people’s money.
Then what?
Formerly known as Skeptic commented:
“A tax system where families earning several thousand dollars are taxed at the same rate as millionaires is unfair, and unsustainable”
What country does she live in? Last I knew we had a progressive tax system here in the U.S. People earning “several thousand dollars” are likely paying NOTHING in federal taxes and the top tax bracket starts at nearly $400K.
Betsy Ross commented:
It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.
-Frederic Bastiat
BetterDeadthanRed commented:
Let’s start with Skankowsky- seize ALL of her wealth to include her swiss bank account and hand it out to the ghetto dwellers. And why were @ it force her to live with other families in her mansion. This is one dumb bitch. > oh I’m sorry skank did I make an UN-PC comment.
vityaz commented:
I’m fine with it. Maybe if the rich have their bank accounts wrung dry they’ll wake up to what they’ve been doing to this country for decades. They’ve been donating millions to these people. They’ve been taking lucrative contracts and kickbacks for that support of these commies. One hand washes the other while the middle class provides the soap.
Chippy commented:
Remember this people.
http://www.cpusa.org/12-days-to-go-the-election-depends-on-you/
They are all communists! Vote them out!
Lily commented:
“In the United States today, the richest 1% owns 34 % of our nation’s wealth – that’s more than the entire bottom 90%, who own just 29% of the country’s wealth”
Umm, we tax INCOME not WEALTH. Its a different thing. They don’t want to talk about what percent of total income taxes the rich are paying – there’s a reason for that.
The high income earners are already paying an enormous amount – and it will never be enough for socialists – not until they bring the whole system down.
pst314 commented:
People like Schakowsky do serve one useful purpose: Anyone who supports them is immediately proved to be at best a fool and probably scum.
Ginger commented:
Wouldn’t it be great if every time one of those communist pigs opened their mouth to speak that they would all of a sudden get laryngitis and we would not have to listen to their lies and hateful words? I am soooooo serious!
Ohio Granny commented:
If he really wants it to be “fair” and “equal”, then tax everyone at 10%. Paper boy, baby sitter, Avon lady, Warren Buffet (both Margarettaville and Hedge Fund guy). Everybody has a stake. Everybody is equal citizen.
They are creating a place where there is fuedalism. The workers toil around the lords and look to them for their benefits. Then they whine that it isn’t fair or equal. To be fair, they have to allow anyone to rise up the ladder through work, innovation, and success.
Gini commented:
#12 March 18, 2011 at 8:39 am
vityaz
Another bloody troll alert.
The wealthy individuals I personally know give the majority of both their time and money to charity for the good of children. They support small business and many assist friends who are lower on the economic scale. This is on their own with only their faith to guide them. They do not need a socialistic bureaucracy telling them to pay higher taxes to do what is deemed good in the bureaucrats eye – they are wise people who have worked long and hard and have earned their money. These people are truly the salt of the earth.
greg commented:
The folks making several thousand dollars are treated a little better than the good rep described. With earned income tax credit, food stamps, WIC , pell grants housing assistance, energy assistance, Care, Head start, unemployment, medical etc.. It now takes a self supporting taxpayer 40,000 a year to break even.
Ohio Granny commented:
Jan needs to read this http://iowahawk.typepad.com/iowahawk/2011/03/feed-your-family-on-10-billion-a-day.html
WTFPRESIDENT commented:
FAIR TAX…I want ALL members of CONGRESS to pay their fair share too….(do you hear me democrats in congress…..this includes you!!!!)
theBuckWheat commented:
Socialism is the fraudulent bargain that we each can live at the expense of others. Christians and Jews alike should recognize where socialism can only be imposed by coercion and the credible threat of deadly force and how it must violate three of the Ten Commandments (lies, coveting and theft). Yet, this has not stopped some from excusing lies coveting and theft in the name of fairness and “social justice”.
What socialists like Schakowsky don’t care to understand is that the great gap of wealth is a sign of our prosperity and liberty. What crime did Bill Gates commit to gain his wealth. Who did he steal it from?
But this is more about the future than the present, for it is from future Bill Gates and Steve Jobs that our future prosperity comes from. What kind of future will this country have when the next Bill Gates concludes that he should not strive to innovate and create a new business because government will just tax away any wealth he makes. Worse, what person who has wealth today would care to put it at risk in funding the next Steve Jobs, because if this new venture did very well, that the investors would be punished by the tax system instead of being treated as the heroes they really are?
The socialist, the money-grubber and the compliance-oriented bureaucrat never can see the futures they destroy when they push their selfish plans to tax and redistribute. They each have a stake in the destruction of wealth, for there is much power in the ability to levy and audit and dispose and regulate. These are people who seek 100% control over what little we have left after everyone with talent, drive and ability, decides to retire or to never even start.
Socialism even destroys the very price signals an economy must have in order to function, and in the process they destroy its ability to create new wealth. So, of course their world view is fixated on fairly cutting up a fixed pie. People who are liberty-oriented that we all are better off when the pie can expand as fast as possible. And it cannot do that when lies, coveting and theft are allowed to prevail.
Interesting commented:
Thou Shalt Not Covet Thy (Rich) Neighbor’s Wealth.. either by stealing, looting or taxing it away from them.
When they took the Ten Commandments from the schools and the public minds, this institutionalized THEFT was the result of people thinking that Coveting and then STEALING the wealth of others is the right thing to do. When SIN becomes a right, God help those deluded souls who believe such lies. Because they were “commandments” NOT suggestions, and therefore have consequences when people or nations transgress these commands and intentionally, blatantly and with intent covet and then steal, breaking two of the holy Ten commands.
Primary Boehner commented:
Umm, we tax INCOME not WEALTH.
Precisely. Funny this doesn’t get mentioned very much. Good luck trying to get rich in the private sector in America these days. And the obstacles the parasite/ruling class put in the way of those trying to create wealth extend well beyond taxes.
theBuckWheat commented:
“Umm, we tax INCOME not WEALTH.”
Sorry, when government inflates the currency, the wealth that it represents is transferred to to the government’s benefit. Printing money is theft of private wealth by dilution.
See the last two paragraphs of Alan Greenspan’s essay Gold and Economic Freedom:
“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
“This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard. ”
from:
http://www.usagold.com/gildedopinion/greenspan.html
theBuckWheat commented:
Allow me to add that when government inflates the value of its own money, then the price in dollars of many assets such as land and precious metals increases without necessarily increasing in the level of wealth. By defining the rise in “nominal” dollars as income and thus subject to an income tax, private wealth itself is taxed away into government coffers. So, you statement is NOT true. Inflation coupled with an income tax is the mechanism of taxing wealth.
RedBeard commented:
This despicable Schakowsky creature represents the district where I grew up. Back then, it wasn’t a communist stronghold, unless you count my classmate Hillary Rodham, who was really quite an anomaly. What on earth happened to the place?
Patriot Act commented:
“A tax system where families earning several thousand dollars are taxed at the same rate as millionaires is unfair, and unsustainable,”
Wow, this is the dumbest thing I’ve heard an elected representative say today (but the day is young). With the earned income credit, people making a few thousand dollars actually get *paid* via the tax code, i.e., they have a *negative* tax burden. Are our lib legislators really this ignorant, or are they amoral opportunistic liars just makin’ crap up?
tommy mc donnell commented:
if you don’t have the right to the fruits of your labor you are a slave.
tommy mc donnell commented:
the greedy people in america are the politicans. they are the new nobility. all they did was change their titles from duke, baron, earl, and lord to mayor, senator, councilman, governor. if you notice you never hear a union leader complain about confiscatory taxation. the power to tax is the power to tyrannize.
Multitude commented:
I read Schakowsky’s proposal: it’s nothing but more misdirection and liberal elite ruse. The bottom line that many of us in the middle class know is that the rich elites don’t pay meaningful income taxes. Only the middle class does.
A good example of this is a former business associate I worked with who is one of the wealthiest families in a Midwest U.S. city. Their family profited by helping the railroads and Federal government exploiting poor farmers during the 1800s as the railroad snapped up land, and has lived off of the more than half-billion in accumulated wealth stored in businesses and trusts.
The family does nothing these days but administer the trust and the tax-avoiding investments, properties, shelters, etc. The CEO of the family enterprise runs a small office of bookkeepers and brags about his being paid a meager $30K/year. As he oversees a half-billion dollar trust, 70,000 acre ranches in Texas and a hefty portfolio of properties around the globe, he calls himself a middle class worker. Never mind the 12,000 square foot mansion, company jet, company luxury cars, etc. According to the tax man, his actual income taxes are lower than a starting school teacher’s.
Of course, having several hundred million in tax-free munis that provides a net annuity exceeding several million annually helps one to make it on such a low salary.
Best of all, he’s a die-hard Obama fan and strongly demands higher *income* taxes on the rich. I asked him about the income on his munis once and he was quite angered at the suggestion of taxing it, as he’s “helping communities by providing them with access to vitally needed capital” and as such, should be thanked for providing a community service and earning a poor interest rate in return. For that service, it was only fair he not be taxed at all on the income earnings.
This is the liberal gentried elite that rules this nation. From Warren Buffet to Soros and all these pedigreed trust fund leisure class rulers, these are whom the middle class faces as our primary enemy.
Mo commented:
The only “fair tax” is a flat tax. Everyone should pay something. We allow people who contribute nothing to the country financially to vote in people who decide how much of our money they are going to take from us. That is what is unfair in our tax system!!!
Lenore commented:
Name; American Liberal 2010 federal tax return
Exemptions 0
Wages, tips, bonuses,
dividends, interest, royalties,
real estate, pensions, annuities,
trusts, and other types of income $ 251,000.00
Education expenses $ 0
Charitable contributions $ 0
Business expenses $ 0
Heath savings account deduction $ 0
Moving expenses $ 0
Alimony $ 0
Student loan interest deduction $ 0
IRA deduction $ 0
Tuition and fees $ 0
Itemized deductions $ 0
Foreign tax credit $ 0
Child and dependent care expenses $ 0
Child tax credit $ 0
Energy credit $ 0
Federal income tax withheld $ 40,000.00
Tax you owe $41,827.25
Federal tax you still owe $ 1,827.25 Please pay this amount
Thank you for using the socialist federal tax form. You are true to your conviction of tax the rich and/or raise my taxes. You are no longer a hypocrite. Stephen King will love this tax form.
Lenore commented:
Liberals are hypocrites they use accountants to pay as little tax as they can and say we should pay more taxes.
Lisa G in NZ commented:
Thanks for posting this Jim. My step sister on Facebook proudly posted Schakowsky’s proposal as a great thing and I really didn’t know what to say in response to her besides “are you a bloomin’ idiot?”…
My step sis is Chicago socialist and proudly supported the WI union side of recent protests, posts happy comments about her NY socialist hero Bernie Sanders…
She is a single parent who works part time teaching cooking classes and is a typical, mindlessly stupid “Democrat”, fully propagandized by Chicago libs and news, who happily pushes communist, socialist and marxist policies.
What irks me is she is 40 something and still sponges money of her mother and my father so her entitlement mentality affects my family personally. I hope my step mom dies first and my father will be freed from the leeches. There is no hope to convert people like my step sister and she is one reason why Schakowsky got voted back in.
Sad for Chicago and sad for my family…
SSBN 627(B) commented:
“tax the rich
feed the poor
til there are no
rich no more…”
I’d Love to Change the World
Alvin Lee/Ten Years After
circa 1970
Daniel commented:
Here’s a thought for the LIbs.
Start taxing the incomes of the football and baseball players.
Then, see how long you last.
SandyfromChesterfield commented:
Tax the Rich” Bill
• $1-10 million: 45%
• $10-20 million: 46%
• $20-100 million: 47%
• $100 million to $1 billion: 48%
• $1 billion and over: 49%
Doug Edelman commented:
First of all her figures are completely pulled out of her ass! 1/100th of 1% of the population of the USA would be around 30,000 people. If the average household is 3, (probably closer to 4 but go with me) that’s 10,000 households. If it’s true that they average 27 million, that would then be 270 billion TOTAL EARNINGS. (Less than the Stimulus Alone!)
Now realize that they’re already paying taxes well in excess of 1/3 of that, but let’s use round figures. They’re paying about 90 Billion ALREADY, meaning if we took ALL THEIR INCOME we’d only increase revenues by about 180 Billion. In February ALONE our deficit was over 250 Billion!! Our ANNUAL 1.6 Trillion deficit is 1600 Billion!!
Trimming discretionary spending is rearranging deck chairs on the Titanic. Our deficit is 1.6 TRILLION. Our Discretionary Spending is about 1.3 Trillion. If we ELIMINATE ALL Discretionary Spending and fund ONLY entitlements and interest on the debt, we’re STILL 300B in the hole! Entitlement Reform is our ONLY hope.
http://capitolhillcoffeehouse.com/index.php/article/936
Taking EVERY PENNY EARNED by ALL those making 200K and above will only increase revenue by about 1 Trillion! We’d still be 600B in the hole. Entitlement Reform is our ONLY hope.
http://www.smallgovtimes.com/2011/03/the-uncomfortable-truth-%E2%80%93-we-can%E2%80%99t-soak-the-rich-enough/
therese commented:
Gine, You said exactly what I want to say. My husband and I are not what you would call wealthy. He makes decent money. but he works harder than most anyone I have ever known. We lived in a nice middle class neighborhood. We decided to send our children to some of the finest private schools in our city. We did not take vacations, buy over expensive cars or other needless items in order to achieve this. Our friends told us we are going to a Snobby school with nothing but Rich and Arrogant people. Well…….. I am happy to say, the parents at the private school were some of the most caring and charitable people I have ever known. These are the people who drop $20,000 for a senior quilt at school auction. They give and give and give. They do more for their schools, and for their communities then most people will ever do. Their children are involved in charity and helping others in the poorer communities. It is shameful that these are the same people the left loves to attack.