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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (686083)11/26/2012 12:00:56 PM
From: Alighieri1 Recommendation  Read Replies (1) of 1577030
 
Joe Scarborough: It Is 'Immoral' For Richest Americans To Pay 15% Tax Rate (VIDEO)Posted: 11/26/2012 9:48 am EST Updated: 11/26/2012 10:53 am EST


In a move that will surely rankle his fellow Republicans, Joe Scarborough criticized the GOP's tax policies and argued that wealthy Americans should pay more taxes on Monday's "Morning Joe."

The panel was discussing tax reform and Steve Rattner's New York Times editorial, which suggested that President Obama should raise the tax rate on capital gains to 28%. Scarborough jumped in, arguing that the richest Americans can and should pay higher taxes.

"You see again this huge divide between the richest Americans and the poorest Americans... and you sit there going, you know what, these people that live in these mansions and have private jets and live an extraordinary life like few Americans live — they can probably deal with a 20 percent tax rate on capital gains instead of 15 percent," the MSNBC host said.

Scarborough further said about the Republican party, "Why are we fighting and risking our majorities protecting billionaires that are hedge fund guys who are paying 14 percent tax rates?"

He continued, "There's something immoral about these people paying fourteen, fifteen, sixteen percent of their taxes because the tax rates are the way they are while small business owners who make $250,000 a year in Manhattan and may employ four people are paying a 35% tax rate."
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