While the Obama Administration remains unclear on their strategy regarding the Bush tax cuts, yesterday, Representative Alan Grayson (D-Orlando), speaking from the heart on the House floor, provided a visual demonstration of what the extension of the Bush tax cuts would mean for the wealthiest Americans.
Grayson explained that, for the top one percent of Americans earning at least $1.4 million, an extension of the Bush tax cuts would put $83,347 in their pockets each year.
“Let’s give some thought as to what the high and mighty might do with that money,” Congressman Grayson said. Then he proceeded to explain, using floor charts, what the wealthy could do with the $83,347 from the extension of the tax cuts.
See Video Below of Congressman Grayson on House Floor.
Grayson explained that, they could purchase the following:
- A Mercedes Benz E-Class Every Year: Grayson explained that this car could be purchased for $83,000 not just once, but for each year for the next decade. And when the wealthy got tired of it, Grayson added they “can give it to a spouse, sister, son or daughter every year for the next ten years.
- An Elite Designer Handbag Every Year: The Florida Congressman revealed that the richest Americans could purchase a “gorgeous Hermies bag, a Birkin, for $64,800 dollars. Not once, but every single year for the next ten years. For which they will say to the Republican party, ‘Thank you very much.’”
- A Bottle Of Wine Bottled in 1787 Every Year: Grayson explained that the Bush tax cuts for the richest Americans would provide them with enough cash to buy a “bottle of Chatteau d’Yquem wine bottled in 1787 for only $56,588, that will leave them loose change in their pocket of $25,000. They can buy a bottle of wine from 1787 every year for the next decade. Thank you Republican Party.”
- 20,000 Jars Of Gray Poupon Every Year: “They can buy 20,000 jars of their favorite mustard, Grey Poupon. 20,000 jars,” Grayson exclaimed. “That’s certainly enough for them, their family, their friends, even a few poor people. Thank you Republican Party!”
- 800 Luxury Cigars: The rich can buy 800 cigars, enjoying one in the morning and one in the afternoon and then light each with a $100 bill for the next ten years.
The Congressman said he had a better idea for how the taxes from the wealthy might be used. Noting that extension of the Bush tax cuts for the wealthy will cost taxpayers about $100 billion per year, Grayson suggested that the monies should be used to give three (3) million Americans a job with a working wage. Grayson added that this will revive the economy, as these monies will be spent on rents, credit card payments, haircuts–on things that working people need to stay alive.
“I favor jobs, not tax cuts for the rich”, Congressman Grayson said.
Congressman Alan Grayson on the Bush Tax Cuts for the Wealthy on House Floor.
