Beck Uncovers Stubborn Grayson Fact: He’s Worth $31.12 Million
- Posted on December 3, 2010 at 2:20pm by
Jonathon M. Seidl
- Print »
- Email »
In an odd House-floor speech on Thursday, defeated Florida Congressman Alan Grayson (D) tried to show that conservative figures such as Glenn Beck stand to “make” money if tax cuts are extended for the “rich.” In the speech, he said that since Beck’s net worth is “$33 million“ he will make ”a cool $1.5 million.”
Besides the fact that a decision to not take someone‘s money doesn’t equate to added income, there‘s another problem with Grayson’s speech: he forgot to mention that he’s worth almost as much as Beck.
According to a report in the Wall Street Journal, Grayson‘s worth falls shy of Beck’s by only about $1.8 million:
Along the way, he has become wealthy. Roll Call, a Capitol Hill newspaper, ranked him 12th among all members of Congress based on financial disclosure forms, with a minimum net worth of $31.12 million.
Beck uncovered the figure on his radio show this morning, and explained how he, unlike Grayson, is reinvesting his money back into the economy:
Facts are a stubborn thing. Beck would later apologize for the “big, fat slob comment.”
On Friday, Rush Limbaugh also responded to Grayson’s attack on him during the same speech:
(H/T: Daily Rushbo)
Popular Stories
MSNBC Host Snaps in Heated Segment: ‘What in the World Is Riskier Than Being a Poor Person in America?’ 692 Comments
Does Misstated Marathon Claim Prove Paul Ryan Is Dishonest? (POLL) 662 Comments
‘Jumah at the DNC’ Speaker: ‘Muslims Visited America Prior to Columbus’ & ‘It Was a Muslim’ Who Guided Him to the ‘New World’ 524 Comments
Obama: RNC Like Watching ‘Black-and-White TV’ Because Romney ‘Did Not Offer a Single New Idea’ 364 Comments
Paper Details Obama Admin’s Alleged Secret Note Sent to Iran: If Israel Attacks, We Won’t Get Involved 338 Comments
Faith
This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 227 Comments- Pakistani Muslim Cleric Accused of Framing Disabled Christian Girl in Koran-Burning Case Read More
- ‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 236 Comments
Meet the Controversial German Imam Accused of Brutally Beating His Wife & Pushing Sharia Law Read More
‘Self-Proclaimed Messiah’ & Unification Church Leader the Rev. Sun Myung Moon Has Died — Here’s His Life Story Read More
Business
President Obama Issues Major ‘Green Energy’ Executive Order Read More- Germany’s Upcoming Court Ruling Will be Huge for the EU Read More
Ford Looks to Beat Toyota for Best-Selling Car in 2012 With This Model 147 Comments
Bernanke & QE3: Here’s What You Need to Know Read More- ‘Extortion’: Why Did the Labor Department ‘Drop the Hammer’ on Oregon Farmers? 300 Comments
Technology
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 227 Comments
‘TaserDrone’: Hackers Weaponize Quadcopter With Actual ‘Shocking’ Technology Read More
Ever Heard of the Wild ‘Burning Man’ Festival in the Middle of the Nev. Desert? Here’s Your Primer Read More
Stanford Develops Technology ‘Better Than Steroids’ for Athlete Recovery Read More
Have You Pretended to Know What ‘the Cloud’ Is? You’re Not Alone Read More
Submitting your tip... please wait!
Comments (245)
fan-of-glenn
Posted on December 3, 2010 at 2:51pmWait a minute! Am I the only one that thinks something is wrong here.
How can a constantly working advocate for the Original American Way be worth only slightly more than a loud mouth do nothing EX-congressman.
Personally I believe folks should be paid according to the work performed. It is called Capitalism!
That said I think a good argument could be made for Mr. Beck to receive a well deserved tax break.
In my book the work Glenn is doing goes way beyond monetary gain. But since on this earth we are rewarded by those we serve by gaining wealth I would have to say Glenn is way underpaid. His wealth should be easily at least double Oprahs. I pray for the day when Glenn’s fortune far exceeds that of “Spooky Dude”. I have no doubt Glenn would (and does) use his financial gain to return America to it’s founding principles.
Now …. About getting Glenn the money he deserves. I say we institute a “Enemy of America” tax or 110% of all money ever aquired. If you can’t pay, you leave the USA immediately. Say bye bye to obama and friends.
Report Post »cece959
Posted on December 3, 2010 at 2:49pmNever let the facts get in the way of a smear campaign. Bottom dweller.
Report Post »Heyzombieminions
Posted on December 3, 2010 at 2:48pmAre you people even paying attention! That is the whole point of the argument, Grayson makes as much as Beck but he doesn’t want the tax hand-out! Its not that hard to understand!!
Report Post »fan-of-glenn
Posted on December 3, 2010 at 2:55pmI think you are missing the point. Like Rangel, Grayson has No intention on paying the taxes he owes. That is until he is caught. Think of Kerry and his yacht. It is simple (for most of us) – the rules only apply to us peons. Not the elite demo-N-crats.
Report Post »Open your eyes, take off the blinders and use your brain.
troyvar
Posted on December 3, 2010 at 3:01pmBeck runs a bunch of enterprises, which in turn employ a lot of people, who are also getting a chunk out of that number. There’s also cost of doing business. Glenn’s corporate gross might be high, but anyone who runs that big of an enterprise can tell you about overhead, by the way his office is in New York… ie: really high taxes.
Report Post »Reagan/Demint.deciple
Posted on December 3, 2010 at 4:51pmHeyzombie , really , I was wondering, if it is true of what you say then do you think Grayson payed double his share in taxes last year ? I mean, after all, there is no one stopping him from cutting an extra check to the IRS, where I‘m sure they wouldn’t mind.. There is no law saying you CAN”T pay more in taxes to the IRS yet you’ll never see one complaining democrat cutting that extra check.. I doubt they even give anything to charity..course I could be wrong about that.
Report Post »heavyduty
Posted on December 3, 2010 at 2:47pmLet’s send a petition to the president that all politicians should have to pay triple taxes to pay off the deficit. Then that would shut them up about raising taxes. Seems fair to me.
Report Post »OneRepublic4us
Posted on December 3, 2010 at 7:00pmI have a much more realistic idea. If a politician has a net worth over $5 million they sign a waiver for lifetime healthcare and pay. Let’s see how many politicians really want to “serve” the American people out of the kindness of their (black) hearts.
Report Post »NancyBee
Posted on December 3, 2010 at 11:16pmRight on!
Report Post »swonga
Posted on December 3, 2010 at 2:46pmhas he “earned ” his $ or is it accrued assests related to being a congressman? i think we all know the answer…
Report Post »troyvar
Posted on December 3, 2010 at 3:15pmHe’s a “one termer” thank god. Used to be a lawyer.
Report Post »Zorro6821
Posted on December 4, 2010 at 3:12pmNo you are wrong. He amassed his wealth before being elected to Congress. Anyway who cares how rich he is…that is so progressive. Wake up folks!!
Report Post »squeaker
Posted on December 3, 2010 at 2:41pmSounds like grayson may need some energy advice for his glass house….
Report Post »ElleSi
Posted on December 3, 2010 at 2:39pmHe bashed Palin for her $14 million a year, yet he makes TWICE as much as her!
Report Post »troyvar
Posted on December 3, 2010 at 3:06pmActually he dosn’t make that much. That number is his net worth, I think.
Report Post »spookydude
Posted on December 3, 2010 at 2:39pmLast night Mark Levin had a Guest who had, in my opinion, the best way to Explain to your kids the difference between how Conservatives and Liberals view the World…..Stated simply, the Man‘s daughter came home with her report card and for the 2nd quarter in a row she received all A’s…..Her Father asked her how she felt about how well she did…The Daughter replied really good….The Father then asked how some of the other students did on their report cards…She said well, some people got A‘s and others didn’t do so well…..The father then said well why don‘t you ask the teacher to allow the kids that didn’t do so well to have some of the points from your grade to make their grades better….the Daughter quickly replied well that’s not Fair Dad…I earned those grades…..
Report Post »ElleSi
Posted on December 3, 2010 at 2:53pmSo true! I went up to one of my liberal friends once (I live in Cali so I know way too many of them) and told him that since he makes a few bucks more than me, could he give me a buck or two for every hour he works, that way we could even it out?
He thought I was joking and obviously wasn’t down for the idea. When I explained to him that that was the mentality of a liberal and that they are all about spreading the wealth, he got offended and ignored me.
Report Post »HAHA. :)
Reagan/Demint.deciple
Posted on December 3, 2010 at 4:43pmSpookie I heard that last night also, You forgot to tell the point at the end ,when the father asked and she said that’s not fair, I earned those grade by working very hard, and he looked at her and then her eyes opened up real wide and at that moment he knew that she understood… BTW great story and I’m glad you brought that up.. Thanks
Report Post »DAG
Posted on December 3, 2010 at 2:38pmAs long as he thinks nobody knows his real worth, he will speak this way without regret. Typical Liberalism. Don’t look at me, look at them.
Report Post »pamela kay
Posted on December 3, 2010 at 2:35pmWay to go Glenn and Rush. This is a poor excuse for a human-being. Why should succes be punished? And why should tax-payers have to pay for the screw-ups of our current administration? This man is trash. Like old rangle, he won’t have any financial worries. Sooner or later what comes around goes around. I would hate to carry the baggage that these pathetic morons have. If he is so concerned about the American people why doesn’t he just spread his wealth?
Report Post »charliego
Posted on December 3, 2010 at 2:35pmYOU know what, I DO NOT care how much Glenn Beck earns. If I can earn a penny for my thoughts, GB has done more for society, has contributed unselfishly to the same, offers valuable services, etc. He functions as a mentor, professor, researcher, pastor,advisor, chalk board expert to name just a few. His mind is always exploring to assist the public in locating resources. I can only assume he is, also, a great boss who discovers and formats new venues through the expanding employment opportunities he offers. Grayson?? From what I have seen, he should only be paid for his position of congressional fool-jokester, and all around pain in the tush.
Report Post »Jim S
Posted on December 3, 2010 at 2:35pmThe rich fighting…nice to watch…they are all for us you know,just ask any one of them,or elect them,or buy their book, or watch their TV show, or radio show or subscribe to their web site, or go to their movie..the rich are all about us…just ask them.
Report Post »Reagan/Demint.deciple
Posted on December 3, 2010 at 4:35pmAre you saing that those aren’t legit jobs ??? Seriously, why not ? If you can make excellent money in writing a book or having a radio show why not do so? Trust me, if it wasn’t in demand, then they wouldn‘t or rather couldn’t do it..
Report Post »Jim S
Posted on December 3, 2010 at 8:24pm..I never said either one didn’t earn their money, but unless Beck has some information that dippo’s money was obtained illegally, WHO CARES. There are buckets of reasoned arguments to rip the soon to be ex congressman apart, his net worth is not among them. If anything, a wealthy person lobbying to increase his own tax rate is at least not a MIMBY position. We all know there are not enough rich people to pay the govt’s bills. Therefore, any tax on the rich will be a tax on the upper middle and middle class soon enough. Maybe just a slow news day, but not really news, not really worth Glenn’s time..take a few days off, recharge a bit.
Report Post »seeker9
Posted on December 3, 2010 at 2:34pmDid Grayson’s stash come from the middle class, or from looting the treasury?
Report Post »troyvar
Posted on December 3, 2010 at 2:52pmAmbulance chasing lawyer…
Report Post »BetterDays
Posted on December 3, 2010 at 2:33pmAH Greyson is 1.8 million jealous he is…..lol
Report Post »But playing the socialist class game, which is “I should be rich and no one else can be because I said so”.
I will apologize to a socialist, if it takes more than one piece of lead, I hate waste.
DagneyT
Posted on December 3, 2010 at 2:33pmThankfully he won’t be able to use our money to enrich himself for much longer they way Rangel has for forty some years!
Report Post »American4God
Posted on December 3, 2010 at 2:32pmWho really cares they make that much money? i hope to make that much some day..the free market at work. class warfare is so 2008….
Report Post »Flux
Posted on December 3, 2010 at 2:31pmI can’t decide wich he is more of, idiot or evil. I’m leaning towards idiot.
Report Post »intothelight
Posted on December 3, 2010 at 2:41pmBoth!
Report Post »Helen-of-Joy
Posted on December 3, 2010 at 2:56pmHell even my school age children understand.
Son, the more money you make, the more money the government will take away from you. So don’t work too hard. Just work hard enough to get by, only have enough money for yourself and none for charity or to hire people. We would not want to be accused of stealing from others by making too much money.
::donk::: The logic is astounding.
Report Post »MeteoricLimbo
Posted on December 3, 2010 at 2:30pmRich, very rich indeed. More is revealed daily. Thank you.
Report Post »pinetopblade
Posted on December 3, 2010 at 2:30pmBe careful who you pick on. Voters did the right thing in this case. Say good bye, now don’t let the door hit you in the rear. That is being polite
Report Post »mossbrain
Posted on December 3, 2010 at 2:29pmLife is not fair and neither should be our tax system. Tax the hell out of the rich.
Report Post »KCRICK
Posted on December 3, 2010 at 2:38pmHope you win the lottery
Report Post »Dodgersfan16
Posted on December 3, 2010 at 2:41pmOh yeah sure.. We wouldnt want to reward hard work right? Punish those that work for themselves and take charge of thier own lives…
That is ridiculous line of logic. People that work hard should not be forced to compensate those that do not apply themselves.
Report Post »DagneyT
Posted on December 3, 2010 at 2:55pmYou’re well named, squishy green brain!
Report Post »TSman2469
Posted on December 3, 2010 at 3:33pmThis persons comment just goes to show how many don’t get it. It’s a shame and could be the downfall of our economy.
Report Post »chfields62
Posted on December 3, 2010 at 4:03pmWhat a maroon………
Report Post »be1776
Posted on December 4, 2010 at 10:28amReally? That is your argument? Life is not fair. Taxes have nothing to do with life. Life is not fair so you and others with this same philosophy should stop proposing insanely worthless, yet expensive, nanny state programs trying to make life fair like Deval Patrick’s everyone gets a car program or free health care for everyone or free child care from dawn til dusk. Your pronouncement of “life is not fair” should continue on to say “only if you work hard and put forth the effort to make something of yourself”.
Report Post »ElleSi
Posted on December 3, 2010 at 2:27pmLMAO indeed.
Hypocrites!!!!
Report Post »Conserving Ink
Posted on December 3, 2010 at 2:26pmNotice how the party of Class Warfare is run by the rich? What kind of hypocrite do you have to be to say that ‘no one can be rich but me?’ _______________________________________________________________
Report Post »http://conserving-ink.blogspot.com/2010/12/government-we-didnt-elect.html
snowleopard3200 {mix art}
Posted on December 3, 2010 at 2:58pmLets see: self-serving, egotistical, narccisistic, pathetic, wimpy, and such…only ones I could think of offhand.
Report Post »dont ****** me bro
Posted on December 3, 2010 at 3:00pmname one nation politician that is not rich…that is not a left thing, its a govt thing
Report Post »troyvar
Posted on December 3, 2010 at 3:11pm@ tea bag
Report Post »Google it, there are a few who are not millionaires… yet!
TEIN
Posted on December 3, 2010 at 3:21pmAnd Libby/Progressive points are always bring down the top to meet the bottom, instead of teaching the ones at the bottom how to reach the top. It ends up that you have elite idiots and then everyone else poor surfs….the minority ruling the majority….
Report Post »Reagan/Demint.deciple
Posted on December 3, 2010 at 3:54pmExcellnt cut and paste job by the global warming expert..
Report Post »Sunnyr
Posted on December 3, 2010 at 2:26pmLMAO!!! This is unbelievably delicious. Thank you, Glenn for making my day! Alan Grayson is such a flaming hypocrite….he needs to be under psychiatric evaluation for a few years and he should wear an ankle tracking device. I actually think this boob is a danger to society. Pathetic, FAT, LYING SLOB!
Report Post »dkhartman
Posted on December 3, 2010 at 2:56pmnow you’re just offending boobs everywhere now, Come on
Report Post »NancyBee
Posted on December 3, 2010 at 11:05pmI‘m sosoooooooooooooo glad he’s going to be gone!
Report Post »bullcrapbuster
Posted on December 4, 2010 at 9:04pmProgressive usefull idiots like ABC all sound the same. They cannot think creatively. They just go on and on repeating their Marxist mushyheaded flawed logic. Truth combined with falsehoods.
Report Post »TXPilot
Posted on December 3, 2010 at 2:25pmI wondered how he could afford all those fancy posters he likes to stand next to and spout gibberish.
Report Post »abc
Posted on December 3, 2010 at 2:45pmBeck must be worth more. The silly chalkboard he uses costs way more than Grayson’s posters.
((GB)) FAN
Posted on December 3, 2010 at 3:00pm@ABC is all you do is spend your time on this site pushing your progressive talking points. what a tool
Report Post »Jethro212
Posted on December 3, 2010 at 3:07pmABC you crack me up. You do grasp that your arguments are pointless right? It IS my money, not like my pay check is a gift from the Feds… That is what MY taxes are!
Socialism works, really it does, when you exploit the crap out of either a different nation or race, take a look at how well it works around the planet.
Notice as well something really amazing, states that have high levels of socialism? Economic toilet. States with smallest amounts of socialism? Economic boom. Gee, I recall in math, something about looking for a pattern… Do you see it?
Oh wait, let me guess GEORGE BUSh something something something, right?
Report Post »snowleopard3200 {mix art}
Posted on December 3, 2010 at 3:14pm@Jethro 212
Yeah Progressives talk is usually – something, (blame bush), something, (race card), something, (tea party hatred), something, something, (progressives save the day and the universe once again), etc
Report Post »APatriotFirst
Posted on December 3, 2010 at 3:35pmThose fancy posters are paid for out of his budget…….your money
Report Post »TEXASQUINN
Posted on December 3, 2010 at 5:43pm@ABC
Report Post »Typical no thought to the economics…at least beck can reuse the chalk board over and over. Grayson is just killing the environment with his multiple posters that he just throws away
grandmaof5
Posted on December 3, 2010 at 7:14pmIf anyone is interested, google: Alan Grayson: lies, tax fraud and deceit
Report Post »His ponzi scheme partnership netted him millions and he has the unmittigated gall to criticize other people. Beck, O’Reilly, Hannity and Rush worked for their money and give generously to many charities; on the other hand, Grayson is a despicable person who is probably the most loathed man in Orlando and surrounding areas. The sooner he goes away the better.
abc
Posted on December 3, 2010 at 8:38pmJethrow, you are a funny one!! You live under the protection of the military, so you must pay for it. You breath air that is protected by the EPA, so you must pay for it. You enjoy a safety net that means that when you grow old and sick you are covered, so you must pay for it. You drive on roads that the government pays for, so you must pay taxes on it. I could go on and on, but the point is that while private companies send you monthly bills and charge you by the transaction, your government collects just once a year. I wonder what tax rate you think covers all of this, but I know one thing for sure. There is not a single conservative or Republican that has offered up a realistic plan to cut enough spending such that the deficit can be reduced without a tax cut. It has never happened. So taxes cannot go down or even stay put. THey must go up. And so you better get ready for that. Either the politicians will awake from denial to this reality, or the credit markets will force it on us as they have Ireland, Greece and the like–countries that had spending cut but also TAXES RAISED. So play semantic games about what is yours, but the reality is that as long as you are in a country that provides you with defense, public infrastructure and a safety net, then you have to pay up. The math doesn’t lie, even if the pundits and politicians that you love and hate often do.
Zorro6821
Posted on December 4, 2010 at 6:27amGee, I wonder why Beck uncovered it. This has been public knowledge all al along. Nothing new hear. Beck is worth about the same, so what! All I care about is how our country will create jobs for the little guy. Gryson, Beck, and the rest, trust me they will be fine, no matter what happens. One more thing, I with Beck would get off his preachy gig, its a real tune out. He is going off the rails. I hope he is not getting a God complex. I liked his investigative style, hope he gets back to it soon if he wants to keep up his ratings. An enough with the shameless book plugs already!
Report Post »JKN
Posted on December 4, 2010 at 9:20amZorro has a point… I’ve been watching Glenn Beck since he worked at CNN in a tiny room surrounded by pitch forks. I followed Glenn to FOX News and continue to appreciate his opinions on current events. I just wish that Glenn would continue his excellent investigative opining instead of dwelling so much on our history, world history, and religion.
I understand that we must know our foundational history and related facts in order to undo all of the current damage radiating from our excessive and out-of-control government. After all, knowledge is power; and most Americans are thirsting for it. However, if I wanted to learn history, I’d take a history course at a local college. If I wanted to listen to a religious sermon, I’d visit our local church.
Glenn… Please get back to what you do best! Reporting our current events and sharing your common-sense opinions of such events.
Enough with the historical and religious background checks… We must start tackling the current problems we face today!
Report Post »silentwatcher
Posted on December 5, 2010 at 3:15amcan’t we all just get along?? if not, then piss off.
Report Post »BurntHills
Posted on December 3, 2010 at 2:22pmnever never apologize to a democrat.
FED-UP-AND-READY-TO-TAKE-ACTION
Posted on December 3, 2010 at 2:34pmNow how much would he “make” if the tax breaks go into effect………………….“VICTORY OR DEATH”
Report Post »abc
Posted on December 3, 2010 at 2:44pmEven when you are making a bogus argument?
It was not a hidden fact that Grayson is worth tens of millions. It is publicly available information and even Wikipedia has information on him having made a lot of money before running for Congress.
Also, from an economic standpoint, there is no difference between saying your boss gave you an extra $1.5M raise and the tax man saying you can keep $1.5B in taxes. I know conservatives like to say that you don’t need to make tax cuts budget neutral, only spending cuts. They further say that the only spending cuts that need to be budget neutral are the ones that they propose, unlike defense spending, aid to Israel, farm aid, etc. This is not only hypocritical and reveals Republicans as NOT being principled but very duplicitous, but it also is just plain wrong. The Chinese hold about 10% of our debt, while foreigners hold about 25%. Try explaining to them–or, for that matter, the domestic holders of US debt–that they should forgive the debt since it was incurred while giving tax cuts to people. I don’t think that they will see any difference in the debt incurred because of excessively high spending and the debt caused by inadequate levels of taxation. In short, they don’t care. Economically, there is no difference. The author of this blog apparently doesn’t understand enough about economics or accounting–much less the views of debt holders and the credit markets–to draw this conclusion. Hopefully, the conservatives who are supporters of the Tea Parties and who presumably care about the deficits and debt, however, ought to care. The arguments for letting the middle class keep their lower tax rate are different than those arguments made for the rich, whether that is Beck or Grayson–which is a total side show, irrelevant discussion to tax policy and US fiscal reform, by the way. MIddle class tax cuts are highly stimulative to the economy, by increasing consumer demand–by far the largest driver of GDP growth–and driving corporate hiring and investment. Rich folks tax cuts are not stimulative, as massive amounts of emprical evidence have shown. So if the GOP is serious when they say that their number one priority is to get the economy moving and increase employment, and their number one-b priority is to reduce the deficit, then the only logical conclusion is to raise the taxes back to non-punitive Clinton levels on the rich while holding current tax rates for the middle class. In a couple of years, they should raise the middle class tax rates back to Clinton levels as well, in order to close the structural deficit. That, and a bunch of spending cuts, increased retirement ages, etc. Any other strategy might make sense from a philosophical or religious point of view, but it is at odds with economics and the dictates of the credit markets.
wolfagain
Posted on December 3, 2010 at 2:46pmBig surprise.
DrewA72
Posted on December 3, 2010 at 2:50pmAnother RICH politician ranting away while folks like myself who got an education and have worked hard cant find work! Nice real nice Grayson! Its a crime for folks like Beck and Limbaugh to make money but guys like you its ok! Wasnt Grayson one of those guys in DC looking to nail the door shut so folks couldnt make something for themselves and be successful? Get rich become a politician then change the rules so you can stay rich while driving the economy and people like myself into the ground huh Alan?
If you are looking for an innovative, entrepreneurial out of the box thinker that can use my unique skill-set in business development, operations/ administration and/ or new product development in So CA (I know I know whats a conservative patriot doing in the land of fruits and nuts) drop me a line.
A.Avilla@yahoo.com LinkedIn profile http://www.linkedin.com/in/andrewavilla
Thanks!
Report Post »snowleopard3200 {mix art}
Posted on December 3, 2010 at 2:56pmGo Glenn go, you are on the path, and so many Americans are as well.
http://www.artinphoenix.com/gallery/grimm
Report Post »M
Posted on December 3, 2010 at 3:03pmI was perusing the internet looking for this very information and came upon HuffPo and found this little gem. Now I’m not interested in humiliating this person any further than they already did themselves, but this is one example of the mindset of an HuffPo’s poster. You just gotta love their passion for obscurity. Enjoy =)
NOBODY has the right to live well – no matter how hard they worked for their money – while others are homeless, hungry, without decent healthcare, have clean air and water and perhaps a free education. It’s really amazing that the people who have all the money are the ones who seem to complain about taxes. No one I know- (upper middle class)complains. I have no kids, but have paid decent real estate taxes for forty years- my only concern is that the money is available. I think it’s my obligation (maybe a privilege) to keep my society educated.
A question: Why do people with inherited, gambling, etc. wealth, that is money they didn’t work for have the same rights as those who did?
** Don’t mistaken this comment to be mine. I found from a poster at HuffPo**
Report Post »mara123
Posted on December 3, 2010 at 3:05pmI thought everyone new how much Grayson was worth,
Grayson is also a carpetbagger, hasn’t been in Florida long
Report Post »Ken
Posted on December 3, 2010 at 3:07pm@BURNTHILLS: Agree!
Report Post »cotuit
Posted on December 3, 2010 at 3:26pm@abc; Just as with your well written argument about global warming, you are wrong. Just because you are able to parrot the socialist dialogue eloquently doesn’t make you right. Any 12 year old running
Report Post »his lawnmower business knows how taxes effect growth. The plan you propose has been done to death and has failed every time it has been tried. Spend some time reading history.
troyvar
Posted on December 3, 2010 at 3:28pm@ M
Report Post »Gotta love that liberal mindset.
Rowgue
Posted on December 3, 2010 at 3:56pm@ABC Just stop already.
All you do is parrot the talking points from Huffpo and MoveOn. You provided a long vapid list of talking points from pseudo economists, but not a single sentence explaining what benefit to the economy it would have other than making you feel good that those evil rich people are being punished.
Report Post »mikem1969
Posted on December 3, 2010 at 3:57pmABC you need to go back and take a look at history. Say the roaring 20s for instance. Why do you think they were roaring? The government got out of the way and let small businesses do what they do and bam the economy was booming.
Let’s do a little math here. If you raise a businesses expenses what is that business going to do? Cut expenses. Now how does the business cut expenses? 1) Cut salaries (less tax revenue as a result) or 2) Terminate employees (less tax revenue as a result). And by the way, fewer employed people = less tax revenues, fewer employess mean fewer people buying things = less tax revenues. Also with fewer people buying things businesses have to cut expenses even further. Now since you supposedly do research and think about things, you can see how all of that snowballs out to do more harm to the economy. History has proven that lower taxes = more spending power for consumers = more revenues for business = more tax revenues for local, state, and federal government, and the exact opposite happens when you rais taxes. How about read up on some non-revisionist history and take an econ 101 class.
Report Post »jzs
Posted on December 3, 2010 at 4:28pmMike I think you need to look at history:
http://en.wikipedia.org/wiki/Jobs_created_during_U.S._presidential_terms
http://politifact.com/ohio/statements/2010/jul/25/sherrod-brown/sherrod-brown-touts-job-grown-during-clinton-presi/
Job growth was worse under Bush than under Clinton for example. Far worse, despite the tax cuts. Job growth was higher under Reagan than Bush, despite the fact that taxes were higher under Reagan. There is this “idea” that giving more money to the rich creates jobs, but that idea doesn’t correspond to factual reality. The better model is to cut some slack for the middle and lower income groups, which they can spend, driving up demand. In the abscence of a demand for your product or service, why would you hire anyone despite the amount of money in your pocket?
Beside, the latest CBS poll shows that most Americans are in favor of letting tax cuts for the rich expire: http://www.cbsnews.com/8301-503544_162-20024494-503544.html
The concept that the people who post here represent “most Americans,” is false.
jzs
Posted on December 3, 2010 at 4:32pmHere’s a better link as far as what Americans think about tax cuts for the rich (they’re against it).
http://politifact.com/truth-o-meter/statements/2010/dec/02/john-boehner/john-boehner-says-american-people-spoke-pretty-lou/
booger71
Posted on December 3, 2010 at 4:44pmHere is how it works
Report Post »I start a business (PC or Sub Chapter S) ,and work my a$$ off
My business starts to grow, and start to hire a few people. My business is doing well, after expenses, on paper, it looks like I have a high salary, I do, but because I want to grow this business even bigger, I live frugally, and put most of my high salary back in the business (note I have a high salary but little wealth).
I do this for 10 years, the business keeps growing, and keep putting money in the business. At this point, A large Corporation I am competing with buys me out for 100 million dollars. I take the money, buy a nice house, and invest the rest. Now I have almost no “income” but I am very wealthy.
The liberals want to tax these small business guys on their “high salaries” so they can not grow as much or as fast. That is why guys like Soros and Buffett and the rest say, yeah tax me at a higher rate because they make very little “income” based on their wealth. They would scramble like roaches if we said let us tax them at 39.5% of their wealth.
IntheKnowOG
Posted on December 3, 2010 at 5:03pm@abc
“aid to Israel,”…….THAT says it all, doesn’t it? You had to go there because it’s your ideological nature.
Report Post »missbosslady
Posted on December 3, 2010 at 5:26pmABC, your opening line is a turn off, but worse still is your idiotic, rambling, paragraph-less rant.
There is not a chance that I would take the time to read your endless screed.
Perhaps you should practice some of the “ABC’s” of grammar to make your posts, at least, readable. Otherwise, you’re just wasting your time.
Report Post »Planada Conservative
Posted on December 3, 2010 at 5:27pmThis site has income and net worth for all of congress.
Report Post »http://www.opensecrets.org/pfds/CIDsummary.php?CID=N00028418&year=2009
jds7171
Posted on December 3, 2010 at 5:42pmYou know why steve jobs takes only a dollar as net income. ITs because he is taxed less in his capital gains he gets from divideds from the stocks he holds. So he is paying less in taxes. ITs not because he is charitable, its because he is fighting the system.
Report Post »My Two Cents
Posted on December 3, 2010 at 5:49pm@ ABC: Here is some “real world” impirical evidence for you.
I own a retail business in an affluent area where the average household income is well over $250,000.
For the last two years my customers have curtailed their spending and added the word budget to their vocabularies. As a result, my annual sales last year were down 35% and this year is looking even worse. Every other business and restaurant in my immediate area has experienced the same decline. A couple of them have closed their doors.
Regardless of what your charts and graphs say, a tax hike on the wealthy in today’s economy will be a knife in the back for small businesses like mine.
Report Post »dawgPound
Posted on December 3, 2010 at 7:22pmOf course GB would make it seem like it was some sort of epic investigation to find Grayson’s net worth, with all that “research” his crack staff does. Most of the time it’s finding out facts then figuring out a way to fit them into the current conspiracy theory.
HKS
Posted on December 3, 2010 at 7:55pmI’m jealous, he’s an idiot.
Report Post »abc
Posted on December 3, 2010 at 8:31pmCotuit, to assert without support that I am wrong is not a rebuttal. You’ve lost the argument on climate change, so don’t even try asserting otherwise without any proof…
…and your argument on economic theory is equally misinformed. Yes, taxes lower economic activity. We know that. But that is not the issue. The issue is balancing the need to balance the budget with the need to accelerate economic growth. David Stockman, the budget man under Reagan, said today that the GOP is reckless and retarded (his word, not mine) on the issue. As he said, the GOP had eight years to cut spending but they did nothing. He is against all taxes staying at Bush levels, but especially (again, his word not mine) taxes on rich. Now, that is merely one expert’s opinion. The real point is that economic studies have shown that holding taxes constant on the middle class is about 7 times as stimulative as it is for taxes on the rich. This has nothing to do with activity levels from taxes, an irrelevant argument occuring in a vacuum. The reality is that we need to close the budget gap over the next decade and we need to stimulate growth over the next two years. This means that we hold tax cuts for two years on middle class, while getting rid of lower taxes on the rich. Every economist says that this maximizes growth. Only voodoo economists and lots of non-economists (like you) are making a different argument. Luckly, the majority of Americans, and even the majority of Republicans are in favor of letting the Bush level tax rates on the rich expire. You are in the minority even in your own party. That says it all. Say I am wrong all you want, but the logic, facts and poll data is all on my side–not yours.
Rowgue, I am not “parroting” when I say that 1 + 1 = 2. That is merely stating the facts that are widely accepted. The same goes for econometric data showing that tax cuts on the middle class are stimulative, while those for the rich are not. So call it parroting if you want, but it merely is a craven attempt to hide the veracity of what I am saying. Your complaints are hardly a rebuttal. Either you show counter evidence from credentialled economists or you concede the point. I’ll interpret your silence as a concession. And I will not hold my breath for a reasoned response. By the way, I AM an “evil” rich person whose taxes will go up. But like the smartest man in America, Warren Buffett, I view that as necessary and just, given the highly regressive economic and tax policies pursued in the country since Reagan and especially since Bush.
MikeM, I think you are focusing on one factor when many are at play, and you ignore lots of counter evidence to your overly simplistic argument that tax policy is highly correlated with growth. First, the facts. No economic study has shown a clear cut relationship between certain tax levels and certain growth rates. You can see this in the data. Growth rates were higher in the 50s and 60s than in the 20s or 00s although taxes were much much higher and rising. This is economic fact, so you cannot ignore it or deny it. Second, you can have tax rates that are too low. Look at Ireland. They have a corporate tax rate that is one-half the European average, and they are now being forced to raise it because they are running huge deficits even though their government spending as a percentage of GDP is lower than ours. The credit markets are forcing Ireland to raise its taxes even with aggressive spending cuts. That is because the credit market doesn’t differentiate deficits from excessive spending or inadequate taxation. The problem in this country is that you cannot close the structural deficit without doing both. Not even Ryan, supposedly the brightest young gun in the GOP, cannot get more than 9% of the budget deficit closed based upon his budget plan. This means that tax cuts are needed. Finally, like others here you assume that the Laffer curve is actually a declining line, meaning that all tax cuts always yield more tax revenue, but not even Art Laffer believes this. If the tax rate is too low, and the US income tax rate is at a 60 or 70 year low, then lowering it further will yield less tax revenue, not more. No conservative has ever explained what a just or optimal tax rate is, just that it should always go lower. This is not economics, but idiocy. Perhaps you can explain why a 400 bps increase of the tax rate to a level that generated Clinton growth (which was better than Reagan or either Bush) is going to lead to a huge depression and reduced tax receipts. But I will not hold my breath. By the way, I‘ve taken more than just an Econ 101 class and have been invited to Art Laffer’s house on the basis of the challenging questions I’ve given him on his supply side ideas, so I think I have a better command of these issues than you have demonstrated. Perhaps you need to pick up that intro text book, not me…
IntheKnow, do not imply that I am anti-semitic or even anti-Israel. I am not. I simply provided a list of spending items that are near and dear to conservative hearts. Add or subtract from that long list as you like, but the key point is that conservatives are pro-small-gov’t unless it deals with their favorite policies, which is hypocritical and highly partisan.
MissBossLady, that you cannot read a paragraph suggests that you are not well-read enough to evaluate the argument anyway. Admit it. You have no formal training in economics, accounting or finance, so your opinion lacks any weight anyway. Discussions around budget and tax policy are best left to people who actually know how to run the numbers. The rest of you will be talking nonsense if you offer an opinion. So I really don’t care what you write about or think about me, to be perfectly honest with you.
MyTwoCents, thanks for the anecdotal evidence. I never said that there is no stimulative effects from tax cuts to those making $250K, but that the effect is far smaller than for the middle or lower classes. Your business might be down 35% last year and presumably up a little this year, but spending by the middle and lower classes is down even more. If your customers were making only $30K, you likely would have gone under. Given the scarce resources in any economy, your story is not compelling enough to place a priority for those making $250K over those making $30K. The econometric analysis is correct, while your story shows how tone-deaf you are to the massive cuts in spending at the lower income levels. Imagine your situation ten times worse and you have a glimpse of the struggling class that will spend 100% of what they get in tax cuts or unemployment benefits. The CEO of Walmart commented on the blips in grocery spending occurring on periodic bases, corresponding to the payment of unemployment checks; these people are not buying optional items, but necessities–milk and bread. So please spare me the sob stories of $250K+ customers reacquiring the word “budget” in their lexicon. There are millions wondering how to feed their families and 40% of kids in this country going without meals due to economic distress sometime in the last two years. Talk about someone out of touch with the common man…
silentwatcher
Posted on December 3, 2010 at 8:35pmand did he make it all while in politics??????? and how, pray tell, did he do that????
Report Post »nhall729
Posted on December 3, 2010 at 9:31pmNever apologize when there is nothing to apologize for. Always do what is needed to make things right when there is something to apologize for.
Report Post »trolltrainer
Posted on December 3, 2010 at 10:46pmI see we have a new college boy on the board. I do not think too many people will take the time to read ALL that, and just skimming some of ABC‘s posts I can tell he has his head stuck so far up his butt a John Deere couldn’t pull it out. God bless you ABC, though somehow I am certain that you are way too smart to believe in Him too. Good luck with all that…
Report Post »CatB
Posted on December 4, 2010 at 12:41amGrayson should give his wealth to the insurance companies so that they can provide that “free” care! Put up or shut up!
Report Post »INTHEBEGININGGOD
Posted on December 4, 2010 at 6:41amFED-UP
Report Post »It stays the same
INTHEBEGININGGOD
Posted on December 4, 2010 at 7:00amWe are the LITTLE PEOPLE we pay all the taxes. All the people in Congress are exempt look how many in congress and this administration don‘t or owe for many years there taxes and the IRS let’s them go. Look what just happened to charlie rangel, he stands before pelosi and says you have been a naughty boy charlie look ashamed and go back to your office and we‘ll pick you up cause this is the boy’s night out. They all make a good show in front of the camera‘s but when their off their all buddy’s. Who got us in this mess? Congress!! Congress spends the Billions…Now it’s Trillions. I still want Term Limits. Two terms at the most…
Report Post »sjohn70037
Posted on December 4, 2010 at 11:01am@ ABC – I pray that one day there will be a loud POP signaling your head is now out of your a**.
Report Post »moonpeace
Posted on December 4, 2010 at 11:17amABC, why did you take so many words to say what you said…when all you really had to say was, “I am a liberal loon, and I do not understand economics.” Any clear, right-thinking conservative is going to come to that conclusion anyway.
Report Post »tjdavid21444
Posted on December 4, 2010 at 11:55amAbove, ABC said the following “Also, from an economic standpoint, there is no difference between saying your boss gave you an extra $1.5M raise and the tax man saying you can keep $1.5B in taxes.” First, unless it was a typo on your part, ABC, $1.5B is 1000 times $1.5M. Second, yes, there is a big difference between the 2. In the case of the raise, the money has to come from somewhere in the company. Either it is subtracted from profits, or it is borrowed, increasing the company’s debt. In the case of the lower tax, the money was earned by the employee, and he/she is keeping more of it, the money can (though admittedly not necessarily) be spent into the economy in the form of the purchase of more goods and services. Yes, so can the raise, but your example failed to note the impact on the company (and potentially its investors) of that raise. The tax break does not impact the company, and is not the same as giving someone more money. They already had it, before the government confiscated it. Perhaps you can understand this example. A group of children are trick or treating. Each one manages to “earn” a bag full of treats. Along comes Mr. R.E. Distributionist who sees that the bags are very full, but there are others who’s bags are empty (because they didn’t want to go out and trick or treat like the other). So, R.E. says, “I will make this fair. I will take 10% of all of your candy and give it to those who don’t have any,” and so he does. The next year, the kids are equally successful, and the ones who didn’t go out at all, are equally unmotivated. However, this time R.E. feels “generous” and says “I will only take 5%” of all of your candy to give to the others this year.” My question to you, ABC, is, did R.E. “give” them all an extra 5% by not taking it away in the first place? No? I rest my case.
Report Post »TaxedEnoughAlready
Posted on December 4, 2010 at 12:02pm@ABC: All taxes are punitive. I and and a lot of other working people are sick and tired of paying half of our sweat to a failed and bloated corrupt central government that keeps taking the fruit of our labors and redistributing it to unappreciative freeloaders that have have been brainwashed and led to believe that they are oppressed. They are so blind they cannot even see that they are slaves to this failed system, ie, the so called “great society” and the “war on poverty”. What a sad and tragic thing that has been! While the Civil Rights movement did a lot of good it also helped usher in the so called social justice programs. Before the Civil Rights movement 75-80% of black families were intact family units with a father and a mother. Now it is the reverse. Thankfully more and more wise black leaders have come to realize this and are working to help their communities, and yet the democrats keep on fostering the myth of wealth redistribution as social justice which is actually their way of buying votes with taxpayer money. Also, the government does not create jobs, it puchases jobs with taxpayer money and helps to slow if not decrease job creation in the business sector.
Report Post »HOPEFORCHANGE
Posted on December 4, 2010 at 4:40pmWho cares how much Grayson or Beck make. It is obvious Grayson is a flake and this pays tribute to capitalism and free enterprise. If a man like Grayson can become a millionaire anyone can.
Report Post »338lapua
Posted on December 4, 2010 at 8:08pmHow long is it going to be before @abc is labelled a troll and not fed. @abc is a dinosaur waiting to be rotted down into something useful. He/she pretends to be an authority on whatever blather talking points the lefty’s are currently pushing. Cannot even argue his/her points on facts, must use the “mountains of empirical evidence” and “everybody knows” crap. Sorry troll, you cannot even articulate your position to a degree of even being taken seriously anymore. GO AWAY!
Report Post »tierrah
Posted on December 5, 2010 at 5:05pm@ABC: Economics was not my forte in school. Are you telling me that you would rather tax the high dollar earners and give that tax money to the government to disburse? Or would you prefer to leave the money with the high dollar earners who actually EARNED the money and let them disburse it? Even obama said he would NOT spend this tax hike money on the national debt so why do we need to give the government more revenue to spend if it isn’t going toward the national debt? I really don’t understand the thinking here and would like very much to have your input in “simple” terms as I am a simple person, not simple minded, but not as publicly educated as you.
Report Post »halflink123
Posted on December 6, 2010 at 8:28pm@ABC – it is really a pretty simple concept. The PRIVATE SECTOR allocates capital better than the GOVERNMENT. Hence, why would one EVER prefer to give the GOVERNMENT rather than the private sector capital (in the form of higher taxes)?
If you think taxes are so great, by all means, right a check to the Treasury, for 100% of your after-tax disposable income. Your idol Obama would really appreciate that. What’s that? You’re all talk and no action? Thought so.
I don’t think anyone on here doubts that deficit spending is not the way to go. The government has to cut spending; that will make tax cuts possible for everyone, including and especially the middle class.
Report Post »