Hip-Hop Mogul Joins Others in Calling For the Rich To ‘Pay Their Fair Share’
- Posted on October 1, 2011 at 1:50pm by
Becket Adams
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“All my employees — every single one — paid more taxes than I did,” Russell Simmons, co-founder of the Def Jam label, told MSNBC’s Martin Bashir on Thursday. “We need to make the rich pay their fair share.”
This is not the first time that Simmons, whose estimated net worth is $340 million, has called for the government to raise taxes on the wealthy. Now he and Warren Buffett have something in common.
Simmons also issued the request in a blog post on Wednesday.
Russell Simmons addresses the "Today, I Am A Muslim, Too" rally to protest against a congressional hearing on the role of Muslims in homegrown terrorism, Sunday, March 6, 2011 in New York (AP Photo/Henny Ray Abrams)
“I believe in a nation where everyone gets a fair share of the fruits of our labor and where everyone pays a fair share for what they receive,” he wrote on his site. “I am asking the United States government to raise my taxes and not allow the Republicans to use this economic recession as an opportunity to strip the basic programs that protect our most vulnerable.”
Asked by Bashir whether raising taxes on the wealthy would exasperate an already staggering recovery, Simmons was unmoved.
“I hired based on pre-tax profit, not post-tax,” said Simmons.
He continued: “We need to organize all the working class and underserved communities to go to work to fight off this money grab… that a great number of the [rich] corporations and individuals to undermine opportunities to give opportunity and resources to the poor.”
On Wednesday, Simmons joined the “Occupy Wall Street” protests in downtown Manhattan to emphasize his message of taking a stance against “corporate greed,” according to Mogulite.
“And most of the country would seem to agree with the drive to raise taxes on the rich,” the Huffington Post reported. “In a recent survey, nearly three-quarters of all respondents — and two-thirds of Republicans — said they would support President Obama’s proposal to tax millionaire households at the same rate as the middle class.”
Sure they do.
Watch the MSNBC interview:
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Comments (213)
f2345ranky
Posted on October 1, 2011 at 2:30pm3/4 of all Repubs would like to pay the same tax rate as the middle class. I made about $80K last year, which is middle class, and with my exemptions and 2 kids in college write offs I paid about 6%
Report Post »income tax. Why don‘t the Repubs call their bluff and say they give in and pay the same tax rate as Buffet’s secy. This argument by the libs is asinine.
mils
Posted on October 1, 2011 at 6:54pmThen close all the tax loop holes, deductions for what ever it is people call “RICH” people.
don’t make more laws…just close the freaking deductions and crap
Report Post »longun45
Posted on October 3, 2011 at 12:43amHe is lieing. Who paid the employees that paid their taxes? I submit that the employer paid the taxes as part of their salary and the employees merely passed it along.
Report Post »smithclar3nc3
Posted on October 3, 2011 at 10:29amSomeone tell this idiot he can pay 110% to the government NO ONE’S STOPPING HIM.
Report Post »Instead of attack success why don’t people like this call out for Government reform to end all waste from 16 dollar muffins to 538,000,000 dollar bribes to Democratic bundlers.
DrFrost
Posted on October 3, 2011 at 1:59pm@MLS
The problem with getting rid of all the loopholes is that you’ll actually hit the middle and lower class harder than the upper class by doing that. For example, the interest on my home loan is a big deduction (a loophole). If you remove that “loophole” I literally couldn’t afford my house (I’m in one of those markets where houses are insanely overpriced). I think you’d find a lot of people in a similar situation.
Also…. despite what Simmons and Buffet say here are the facts:
The upper 1% of wage earners with positive AGI make 20% of the money and pay 40% of the taxes. The upper 5% of wage earners with positive AGI make 30% of the money and pay over 55% of the taxes. And the bottom 46% don’t pay any federal income tax.
Sound to me that the rich, on average, are already paying more than their fare share. I know Buffet is a corner case because most of his earnings come under capital gains and is capped at a rate of 15%. I don’t know about Simmons but it must be a similar situation. Once might reply that we should simply do away with capital gains HOWEVER that would hurt a lot of people who sell that big home when it’s time to retire, so you have to be careful how to fix these loopholes.
So, to summarize, if Buffet and Simmons want to say there are some loopholes in the tax code that need to be addressed for a small fraction of the top 1%, I don’t have a problem with that. But to suggest that the typical top 1% wage earner isn’t paying hi
Report Post »DrFrost
Posted on October 3, 2011 at 2:04pmSo, to summarize, if Buffet and Simmons want to say there are some loopholes in the tax code that need to be addressed for a small fraction of the top 1% wage earners, I don’t have a problem with that. But to suggest that the typical top 1% wage earner isn’t paying his or her fair share is ludicrous.
Furthermore… to suggest that fixing these are somehow going to provide the administration with $200 billion more a month (the amount the current administration is borrowing PER MONTH to keep the government running) is misleading in the extreme.
This is not about undertaxed wealthy. This is about out of control government. Obama’s attempt to shift the attention to class warfare is irresponsible in the extreme.
Report Post »slvrserfr
Posted on October 1, 2011 at 2:27pmIronically, this is coming from a guy that was once quoted actually supporting illegal downloading of music and that rather than shutting them down, that the music industry should instead ‘adapt’ to make legal purchases more beneficial.
Russell Simmons, chairman and CEO of Rush
Communications and cofounder and chairman of Def Jam Records. “It’s not about buying
music anymore. If the industry doesn’t respond to that change quickly, it’s going to be in
big trouble. We can’t shut these people down.
So now he’s saying that the rich should pay their fair share while the music industry gets robbed blinded and that the poor and middle class should feel entitled to rob them blind and bleed their bottom line. Basically sticking it to the rich even more while the rest of the country remains unaccountable for their actions. Typical liberal anti capitalist. Oh, by the way – guess who is now in prison for tax evasion? Ja Rule – one of his label’s own artists. So yeah, how can he preach about the rich paying their fair share when one of his own didn’t even pay their fair share?
I thought I would also mention that Def Jam is BANKRUPT.
Report Post »SREGN
Posted on October 1, 2011 at 3:19pmI think he must have meant that all of the drug dealers who listen to his hippity-hop music should pony up and pay tax on their drug proceeds.
Report Post »Chrono_Sleuth
Posted on October 1, 2011 at 4:59pmIt‘s little wonder he’s bankrupt his own company. Let’s see, what was his statement?
Oh ya…”I hired based on pre-tax profit, not post-tax.” Interesting viewpoint, not something I’ve ever heard of. It’s like saying you prefer ensuring a lower profit margin from your hires than a higher. Then take into account his statements on MP3 downloading…ya. Then take into account what he pays himself…ya.
Hypocrite to the bone. Not to mention all the things incorrect with his own statements. I wonder if anyone will do research on his 2010 tax return to show how much of a BS artist he is, or maybe if he’s gotten away with tax fraud.
Report Post »RavenGlenn
Posted on October 2, 2011 at 11:44amWell he was right on the music costs. The music industry is getting beat up badly because of their archaic business practices. They charge a ludicrous amount for a CD AND put a whole bunch of copy protection that doesn’t work on it. The people that want it illegally still get it and those that buy it legally suffer with all the extra protection junk. It’s the same problem video games and movies have had.
They need to wise up to the online marketplace and charge a more reasonable price. Time and time again we see in these industries that a video game will sell like crazy at $10 a pop, but at $60 people pirate it because they don’t believe it to be worth that much.
The main problem with those industries is you have figureheads in control that run monopolys. The RIAA and MPAA both believe that if they can eliminate piracy that people will pay whatever crazy prices they come up with. It just isn’t going to happen. The supply is there but not the demand.
Heck, when is the last time and album came out where every single song was something worth listening to? Most albums today are built around one great song that they play on the radio and the rest are throwaway tracks. I’ve even heard albums where every single song sounded almost identical because they knew it would sell.
THAT is why these labels and companies are going out of business. Just like newspapers, they refuse to adapt to the times.
Report Post »Libertyluvnmomma
Posted on October 2, 2011 at 10:50pmRuss, must be nice to be a pot smokin’ buddhist.
Report Post »Shouldn’t you be taking a more pacifist role?
Teleologicus
Posted on October 1, 2011 at 2:26pmTax revenues are not the problem.
Government spending is the problem.
Raising taxes -on anybody- without first controlling government spending is throwing good money after bad.
Closing unreasonable tax loopholes used by the wealthy is a topic for consideration but is neither the same thing as raising taxes nor is it a solution to the budgetary crisis. If super-rich individuals or businesses are paying high-priced tax attorneys to evade legitimate taxes already in the IRS code, this needs a close look. Talk about RAISING taxes on the rich merely because they are rich is un-American nonsense spouted by ignoramuses.
Report Post »TheGreyPiper
Posted on October 1, 2011 at 4:51pm“Tax revenues are not the problem.
Government spending is the problem.”
That’s the whole problem and solution right there, 2 lines, 11 words. You should run for pres!
Report Post »Dougral Supports Israel
Posted on October 1, 2011 at 2:25pmMr Simmons. Write a big check and mail it here:
Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782
You can then be happy knowing you have paid “your share”.
Report Post »brado9505
Posted on October 1, 2011 at 6:10pmHas ANY of them paid yet? Bet not.
Report Post »kaydeebeau
Posted on October 2, 2011 at 7:14amIf he really want to help why doesn’t he just give away his “albums” why should he profit from the sale if he were truly compassionate and charitable he should give away his “music” to those less fortunate …same for Micahel Moore et al…geez
Report Post »geonj
Posted on October 1, 2011 at 2:21pmwhat a middle class person is actually taed and what tax bracket that person falls in are 2 different things. the same is true for wealthy individuals. to say they pay taxes at a rate lower than a middle class family is just a lie. and, if simmons wants to pay taxes, he has the ability to make voluntary payments to pay down the debt. so shut up fool and write a check.
Report Post »patriotjax
Posted on October 1, 2011 at 2:19pmHey, Mr. Simmons…
I have an idea. Why don’t you set aside a portion of your reported $340 million, say about $9 million, and set yourself up a trust fund that’ll pay you about $250,000 to $300,000 a year for the next 30 years, buy yourself a modest suburban home of about $150,000 and you’ll live about as comfortably as I do, an average American. Then liquidate your remaining assets and hand it over to the federal government. That way you can assuage your liberal guilt and also set an example for all the other rich people to follow.
Otherwise, shut the hell up!
Report Post »choppinczech
Posted on October 1, 2011 at 8:35pmLike it!
Report Post »Socialism_Is_The_New_Black
Posted on October 1, 2011 at 9:58pmIf Obama is reelected he will usher in the king of welare (reparation) programs. The Latinos around here in my neighborhood come to this city work at the two meat packing plants and other industry in the area making fistfuls of cash, while another ethnicity that occupies the same few blocks either works fast food or is unemployed and bitches about not being able to find work. Our latinos aren’t making min wage either, try 15.00 to low 20′s. It was all latinos in this are until a couple years ago, then poof! Don‘t know why some want to move here if they don’t like the jobs we have to offer. Maybe it’s a short sec8 list. We have also been graced by a ton of black african muslims (as opposed to the non-black ones in northern africa) that are more than happy to work at our walmart. Just love all the new thugs in the area want to be all passive aggressive because they don’t have a car and probably no license walk out in the road when they see us drive by with our nice rides. I saw an ‘entitled’ mom and her two little ones almost get turned into hamburger by j walking in front of a cattle-car out on the ave. I swear they think the world is owed to them!
Report Post »BubbaCoop
Posted on October 1, 2011 at 2:15pmWhy is no one calling for the 48% of Americans who pay zero federal income to tax to pay their fair share?
Report Post »bigbud
Posted on October 1, 2011 at 3:05pmNo one that I read , or watch, or listen to. Will ask all these “Rich” people, or for that matter “poor” people what their “fair share” is. I always thought that you paid what you “had” to pay. My wife and I pay about 9 ro 10% after deductions. We make about 70 to 75K. If these rich people want to pay more,,,,, just write the check. If they have 300 mill or more. Just write the check for 150 mil. That would do more than cutting off my mortage deduction. Wouldn’t that be more? This really isn’t rocketsurgery…. HEY!!! rich people just write the check. OK?
Report Post »Nepenthe
Posted on October 1, 2011 at 6:33pmProbably because most people recognize that the vast majority of your 48% are hoping to just have a place to live and enough money to put food on the table for thier family next month.
Report Post »dnewton
Posted on October 3, 2011 at 1:42pmThe problem with the term “fair share” is that they never define it so that the “fair share” goal post can not be moved later. In the commercial sense, a fair transaction is one that takes place when two people exchange money for either services and goods and each feels better off after the transaction. Liberals have to view these transactions in terms of social justice or in terms of an overwhelming winner versus a overwhelming victim result. This odd view of the transaction sloshes over into unfair transactions where, even though the transaction is not fair, both parties willingly agree to it. ( this would be a forgiven debt, an inheritance, some charity, etc. ) I have always suspected the underlying problem is that these transactions take place largely as a result of free will. Free will means that individuals are in control of the things they want to either get or receive rather than a central and all seeing and all wise elite that is greasing the skids to Utopia. So far, I have never seen or heard a liberal take up the challenge of defining what “fair share” means in a specific way or in a way that would make it unchangeable in the future.
Report Post »BrianL
Posted on October 1, 2011 at 2:14pmWhen one of these clowns speaks with his or her check book and writes a check that equates to at least 25% of their liquid assets I might give them some credit for backing up their moronic chatter.
Report Post »COFemale
Posted on October 1, 2011 at 2:12pmHere is a thought Russell Simmons – get an education and then get a job, then you too can become rich.
Hey and quit hiring your accountant to find all the tax loop holes that you manage to use when filling taxes. Then you can and will pay your fair share. And if that isn’t enough, perhaps writing a check to the U.S. Treasury will work.
Report Post »Popp40
Posted on October 1, 2011 at 2:10pmAnother thing….before ANYONE’S taxes are raised….I think a budget should be passed!!!! How many days has it been now that a budget has been passed and I’m not talking about these “budget bills” that are keeping the government running….I’m talking about a REAL budget.
Report Post »paulusmaximus
Posted on October 1, 2011 at 2:08pmGood all R.S. downt pay asmuch as da rest un, ta dis he do confess un,ifn he’s realy wantsa puta his mony where his mout is wri9ght da check ana make it care de IRS Un!!
Report Post »capecodsully
Posted on October 1, 2011 at 2:05pmHey commies, how about we all pay less and you stop spending money that we don’t have?
Report Post »TSUNAMI-22
Posted on October 1, 2011 at 2:13pmBut living beyond one’s means is the American way. Remember, the want always justifies the need.
-insert sarcasm here-
Report Post »LIBSALWAYSLIE
Posted on October 1, 2011 at 2:05pmif russel pay less taxes than his employees, its because his accountants are looking for loopholes for him.So, it his own fault if his tax bill is not high enough. what a effing moron.
Report Post »Popp40
Posted on October 1, 2011 at 2:14pmEither that or tax evasion…..
Report Post »COFemale
Posted on October 1, 2011 at 2:14pmGreat minds think alike. I made the same post as you before I read yours.
Report Post »Popp40
Posted on October 1, 2011 at 2:31pmLOL…sorry COFEMALE I beat you to the punch… ;-) but aren’t Simmons and Charlie Rangel friends (you know the tax cheat) or maybe he just lives in his district…..so I’m sure he can give him some tips….
Report Post »KickinBack
Posted on October 1, 2011 at 2:03pmTo hell with raising your taxes. Just send me a check Mr. Hippity Hoppity I’d-like-to-give-my-money-away-guy.
Report Post »Gonzo
Posted on October 1, 2011 at 2:03pmHerman Cain was right.
Report Post »AntiLiberal74
Posted on October 1, 2011 at 2:36pmHerman Cain hates black people
Report Post »Popp40
Posted on October 1, 2011 at 2:03pmSo Mr. Simmons would you like to tell us if that was Income Tax or Capital Gains Tax that you are comparing?
The problem is that people buy into this garbage and get all worked up not knowing the actual truth. Once again Mr. Simmons if you feel like you are not paying your fair share then you can send in extra money to the government! Why don’t you do that instead of asking the government to raise taxes….oh that‘s because you won’t actually have your taxes raised because you are not comparing the same taxes.
If you want a fair tax where EVERYONE pays their fair share…then make a 10% flat tax on everything you buy and do away with all other taxes. That is a true way to make sure everyone is paying their fair share….so tired of hearing about how the rich aren’t paying their fairshare when 47% of Americans are not paying taxes at all. I used to like Mr. Simmons but like so many others in the entertainment industry I have lost all respect for them.
Report Post »CatB
Posted on October 1, 2011 at 2:06pmExacly .. NO ONE is Stopping these idiots from sending in more OR ALL of their money to the government. What gets me are the people who pay NOTHING saying that others don’t pay enough .. time to fix this and make EVERYONE pay something. Then let’s see how they feel about the government wasting their money!
TEA!
Cain/Rubio 2012
Report Post »Popp40
Posted on October 1, 2011 at 2:19pmOh come on now, you know good and well when it is their money being wasted, their attitude would change really quick.
Report Post »Czar Kasim
Posted on October 1, 2011 at 2:03pmYYou keep using that word “fair” I don’t think it means what you think.
Report Post »Fair would be you not getting to itemize everything so you end up paying less. If you feel bad, we would be happy to take a check. It would save us a lot of wasted time making a law to force you to pay. We are busy at the moment any way, need to save the country and all. Don’t worry though we will remember this nice gesture and get back to you at a later date.
SavingtheRepublic.com
Posted on October 1, 2011 at 2:02pmI have had enough of this time to tell all these Hollywood fakes to PAY UP or SHUT UP! http://tinyurl.com/3qfvfrz
Report Post »SavingtheRepublic.com
Posted on October 1, 2011 at 2:07pmhttp://www.treasurydirect.gov/govt/resources/faq/faq_publicdebt.htm#DebtFinance
There are two ways for you to make a contribution to reduce the debt:
You can make a contribution online either by credit card, checking or savings account at Pay.gov
You can write a check payable to the Bureau of the Public Debt, and in the memo section, notate that it’s a Gift to reduce the Debt Held by the Public. Mail your check to:
Attn Dept G
Bureau of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188
~~~~~~~~~~~~~~~~~~~~~~~ OR ~~~~~~~~~~~~~~~~~~~~~~~~
http://www.fms.treas.gov/index.html
Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called “Gifts to the United States.” This account was established in 1843 to accept gifts, such as bequests, from individuals wishing to express their patriotism to the United States. Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government. Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below.
Gifts to the United States
Report Post »U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782
CatB
Posted on October 1, 2011 at 3:08pmWell said .. no one is stopping them from paying more .. perhaps they should move out of their mega mansions and donate that money to the government also .. NO ONE IS STOPPING THEM!
Report Post »not funny
Posted on October 1, 2011 at 2:00pmCan’t you hear Obama and the IRS saying ” Show me the money!” Come on, Russell–put your money where your mouth is. Send in your big check now–today!!
Report Post »IceCreamMan
Posted on October 1, 2011 at 1:57pmGoes to show you don’t have to be smart to get rich. Income tax vs. capital gains seems to be a difficult one for liberals to understand. How about we drop the income tax below cap gains instead of raising both and then it’ll be fair in their minds. Just sayin’.
Report Post »netmail
Posted on October 1, 2011 at 1:57pmIf it would make a difference, it would be worth discussing. It’s just an artificial point of contention since taxing the rich is 100% irrelevent. Stupid argument. We’ve lost 2 1/2 trillion in market value recently. Many of the rich are in the ditch with the rest of us.
Report Post »Exrepublisheep
Posted on October 1, 2011 at 1:56pmSay it.
Report Post »LIBSALWAYSLIE
Posted on October 1, 2011 at 2:02pmJust write a check russ baby. Oh, and by the way, what is the “Fair Share”? Give me a number
Report Post »IMCHRISTIAN
Posted on October 1, 2011 at 1:56pmAs we told Buffett.. go ahead and send check to IRS. You don‘t have to list deductions they don’t care. Hurry along now and send check.
Report Post »ConservativeCharlie
Posted on October 1, 2011 at 1:56pmRussel Simmons, YUK> Rap producer more like crap producer. Here is the only rap I have liked as of late. http://www.youtube.com/watch?v=s17Jh2tc04A
Report Post »TRONINTHEMORNING
Posted on October 1, 2011 at 1:53pmMr. Simmons…go buy some bling and learn how to sing and live your little “lefty” fling. What a bore, this guy.
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