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Wednesday, May 16, 2012

Will Smith Backs President Obama's Call for Higher Taxes on the Rich (But Not France's Proposed 75% Rate)

Fox News, Will Smith Backs Obama Tax Jack:

One of Hollywood's biggest and best-paid stars is supporting President Barack Obama's call for higher taxes on the country's top earners. Will Smith said while promoting Men In Black III last week that he supports the move. "I'm very supportive of that idea," Smith told The Associated Press in an interview. "America has been fantastic to me. I have no problem paying whatever I need to pay to keep my country growing." 

But Mr. Smith, who was paid $20 million for Men in Black III, recoiled when asked about French President-elect Francois Hollande's proposal to tax millionaires at a 75% rate:

http://taxprof.typepad.com/taxprof_blog/2012/05/will-smith.html

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Comments

There are tax rate levels at which "the rich calling for higher taxes" will quit supporting higher taxes. Perhaps, Buffett and others should clarify their positions by saying at which point tax rates are high enough. With that, we could determine their sincerity and level of support for the government raiding of private property.

Next, is it "fair" for Buffett to own more than one company when other people don't own any? Occupying minds want to know.

Posted by: Woody | May 16, 2012 9:34:57 AM

This is a country where the myth all men are created equal began. With no estate tax in 2010, some men were created with a multi-million dollar head start program.

Posted by: Nick Paleveda MBA J.D LL.M | May 17, 2012 9:07:25 AM