Jon Lovitz Quotes
The problem with the economy isn't that people aren't paying their fair share of taxes.
Lovitz, Jon. "CNN Starting Point With Soledad O'Brien." CNN, Turner Broadcasting System, 25 Apr. 2012.
Two decades later, in 2011, the fact that the very wealthy often paid tax at a much lower rate than the middle class and even some working poor became a major political issue.
Reacting to proposals to reduce the capital gains tax:
The George W. Bush administration when they had a Republican-controlled Congress, had amended the tax laws to treat the earnings of the hedge fund managers differently from people who manage other enterprises in the nation. They gave a group of very wealthy managers whose earnings were already amongst the highest of any managers in the country a huge tax break, while little public attention was paid to the subtlety of complex tax laws. Daschle and others began to draw public attention to the inequity.
This became known as the Buffet Principle—that the very rich should not pay a lower tax rate than the workers who make far less money than they do. President Barack Obama used this principle by name in calling for the 2011 Jobs Act which would eliminate some of the loopholes and exemptions by which the rich could avoid some or much or their tax obligation.
The nation rejected the flat tax that was favored by conservatives in the 1930s. However, in the Republican Presidential Primary Campaign of 2000, candidate Steve Forbes made the flat tax a centerpoint of his campaign. He lost badly, but the idea caught on amongst some conservative Republicans, and has had some support since.
At the time, he, th richest man in America was paying a lower ta rate than his secretary, his employees and the waiter who served him lunch. The “Buffet Rule” was developed and named for him that said that wealthy people should pay a minimum rate of taxation regardless of tax credits, deductions and other means of tax avoidance.
Jonathan Michael Lovitz is an American actor, comedian, and singer. He is best known as a cast member of Saturday Night Live from 1985 to 1990. He starred as Jay Sherman in The Critic and has appeared in numerous other television series and films, including 20 episodes of The Simpsons.
