Robert Reich Quotes
Yes, the rich will find ways to avoid paying more taxes, courtesy of clever accountants and tax attorneys. But this has always been the case, regardless of where the tax rate is set.
Reich, Robert. Aftershock: The Next Economy and America's Future. Alfred A. Knopf, 2010.
His minimum tax proposal was for the income over $10 million was 35%. For income between $1 million and $10 million, it was 30%. At the time, he found that his secretary, everyone who worked in his office, and the waiter who served him lunch, all paid a higher income tax rate than he did. President Obama, in a great struggle with the Republicans who fought to retain the lower tax rates for the wealthy with deductions, was able to terminate the Bush tax cuts for the very rich.
The President was asked his opinion of his opponents proposal to roll back the large tax cuts that he had passed for wealthy people. Instead of commenting on the societal aspect of the question, he took it from the point of view of the rich.
Reacting to proposals to reduce the capital gains tax:
Robert Bernard Reich is an American economist, professor, author, and political commentator. He served in the administrations of Presidents Gerald Ford and Jimmy Carter, as well as serving as the United States Secretary of Labor from 1993 to 1997 under Bill Clinton. He was a member of President Barack Obama's economic transition advisory board.
