Wednesday, April 11, 2012

Rick Santelli on the Insanity of the Focus on Tax Rates for Millionaires Instead of on our Debt

Rick Santelli, the inspiration for the Tea Party movement, had a great rant on tax rates and our debt. He actually makes much the same point that I did previously, that we just can't raise taxes high enough on top earners to close the budget gap. Though he says it with quite a bit more verve.

(h/t Legal Insurrection)


  1. i agree spending should be cut but this guy is wrong. he is saying that people who make 1 million+ can only be taxed exactly 1 million. they can be taxed 1 million up to however much they actually earn. not that they should be taxed everything either but i'm just saying...

  2. I think he was just using a million for illustrative purposes. I actually went through the exercise of calculating what the tax rate would be here