Fox Business panel pushes GOP tax cuts to help school teachers and firefighters who make $250,000 a year
Video ››› ››› MEDIA MATTERS STAFF
From the July 13 edition of Fox Business Network's After the Bell:
Loading the player reg...
KEVIN KELLY: I don’t know why they didn’t kickstart this economy by doing temporary tax cuts then focusing on health care, then to real tax reform but I think it’s important to note that this 3.8 percent tax on net interest income, that’s for couples making $250,000 or more. Let me tell you. If you’re a schoolteacher or a firefighter as a married couple here in the city making $250,000 you’re not wealthy. So when they’re getting villainized –
CONNELL MCSHANE (HOST): Right, the tax on the rich thing doesn’t work.
KELLY: This whole tax on the rich is a complete misnomer, OK. Maybe they want to lift those levels to making a million dollars a year or something like that, but it’s preposterous as Adam said before.