Posted on 07/11/2011 7:23:27 PM PDT by markomalley
Ben Stein, an economist, actor, and conservative writer, said taxes should be raised on millionaires and billionaires to help reduce the federal deficit.
“I am in favor of greatly raising the taxes on very wealthy people, millionaires and billionaires. I wouldn't raise the taxes on people making $250,000 a year,” said Stein in a June 29 interview on The O’Reilly Factor, guest-hosted by Laura Ingraham.
Earlier, on June 25, Stein had told Cavuto on Business, “We've got to raise taxes. There's just no way around it. The deficit situation is so serious that while I wish we did not have to raise taxes, we just can't cut spending enough. I wish we could. We can't. We have to raise taxes.”
“Mr. Obama is going to have to do it,” said Stein. “I don't know if the Republicans in the House will go along with it. If they don't, there will be a genuine crisis, and I am frankly frightened about it. I'm extremely concerned about it.”
In the interview with Ingraham, Stein defended his position, saying, “Look, it's a basic arithmetic thing; it's not an ideological thing. We are spending an enormous amount of money that we're not covering with tax revenue; we're borrowing it. At some point we're going to have so much debt that there's going to be a crisis and there will have to be austerity measures here just as they were in Greece.”
Congress has the right to raise taxes on the rich and the president can sign it into law, said Stein, who added that the very wealthy are “not paying enough.” He also said that one “cannot correlate low taxes with high productivity.”
Ingraham remarked that the federal budget is nearly $4 trillion and the national debt is over $14 trillion. She then asked Stein, “Do we have a spending problem? Is the spending a bigger problem than taxing the rich, yes or no?”
Stein said, “The spending is a huge problem, it depends on how you calculate it,” adding that, “We're not going to be able to eliminate Social Security, we're not going to be able -- going to be able to eliminate Medicare. We've got to do both. We've got to cut spending and raise taxes on the rich.”
“We’re not going to be able to eliminate Social Security, we’re not going to be able — going to be able to eliminate Medicare. We’ve got to do both. We’ve got to cut spending and raise taxes on the rich.”
He’s a defeatist, that’s why. Either Medicare and Social Security as we know it are eliminated, or the country collapses. It’s that simple. Taxing the rich is just a short term solution that does more damage in the long run.
He is a Socialist.
By definition... income taxes don’t actually tax wealth. They just prevent new wealth from being accumulated.
Well then Ben ain’t no conservative, is he!
He's right about that. I heard Jeff Sessions on the radio today talking about preserving SS and Medicare. That's all the proof you need. I remember George Will getting in trouble for saying as much a few years back, but he'll be proven right in the long run.
Not really. Stein has always been a neo-conservative/liberal.
We have a large national debt. We have a lot of current bills. Tax revenues are falling short of the need.
So, what to do ~ well, you could raise taxes, or you could lower expenses, or both.
You can also SELL or RENT your vast storehouse of NATIONAL ASSETS.
There's also something to be said for collecting fees for protection by our foreign fleets!
What we have is a problem of vision ~ not of money to pay the bills.
He’s the same idiot who donated money to Al Franken.
RINO? RINO? Anyone?
I imagine that a lot of folks here would take issue with that sdjective of “conservative” applied to Ben Stein.
Nah. He's right about entitlements. Just bring up cutting or means-testing them around here, and watch the greybeards squawk.
the solution is simple
require the banks/institutions/whateveryouwanttocallthem we’ve bailed out to forfeit 90% of their net profit for the next 3 years, with a five-year moratorium on their fee increases so the consumer isn’t shafted.
deficit problem over - taxpayer is actually paid back.
you should know it’s this easy, Stein.
Conservative! Moderate at best, with extreme socialist leanings. IMHO
Does not shock me at all! However I am against raising taxes on ANY business who hires significant number of employees regardless of how profitable ( = successful ) they are. People such as Warren Buffet who do not hire any employees directly (the CEO types) and Bill Gates (another example) should be taxed not based on their earnings, but rather their net worth. They can afford to contribute more to reduce national debt. However ANY TAX INCREASE SHOULD GO DIRECTLY TO PAY OFF NATIONAL DEBT and not government spending.
Tax the flippin’ deadbeats first. When they pay their fair share, then we can begin talking about taxing the very folks that pay the vast majority of the taxes in this nation.
What would really throw the ruling class into a tizzy would be to propose elimination of inheritance. ALL of your accumulated wealth belongs to the government on your demise. Tax ALL gifts.
Ben stein is a pofs. He mocked Peter schiff in 2007 and said subprime was not a problem from the economy. F u BS!
What did Theresa Heinz Kerry pay, according to the last financial disclosure- $60,000 or maybe $80,000 iirc.
The very wealthy move cash overseas or into tax-free muni bonds.
It will take quite a few Lovey’s taxes to add up to a trilion.
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