Nancy Pfotenhauer Gets Her Punishing the Rich Talking Point Shot Down
By Heather Sunday Mar 15, 2009 6:30pm
You Tube
Joan Walsh and Peter Beinart do a pretty good job here of tag teaming Nancy Pfotenhauer on her punishing the rich talking point. It was nice to watch a panel where they didn't let her talk over everyone the entire time as she likes to do if they let her.
HUGHLEY: Nancy, what do you think? Is he a communist?
PFOTENHAUER: I heard communist and socialist thrown around, and they are two different things. If you want to talk about communism, that's more "From each according to his ability, to each according to his needs." So it would be more the redistribution of wealth aspect.
I do think his tax the rich thing is punishing prosperity, which is an antithetical to the American dream, and completely ignores the fact that the top five percent of the earners in this country, they do earn about 36 percent of the income. They pay about 60 percent of the income tax, and the bottom 40 percent pay zero. So I'm not sure that's the way he should be going. So that would speak to the redistribution act.
WALSH: But why is it --
PFOTENHAUER: Excuse me?
BEINART: Sorry, go ahead.
HUGHLEY: We just turned into Jerry Springer. Who is going to say -- Joan, what were you saying? You were about to say something.
WALSH: I think that we have had a situation. We are not punishing the rich. Let's be honest. In this country, we have a game that is rigged. If you're born wealthy, you stay wealthy. It's very hard to climb out of the middle class into wealth.
It's still possible. It's a great country. We provide a lot of opportunity. But the rich are finally about to pay their fair share, and Obama, finally a president did what he promised to do. He gave a tax cut to 95 percent of the country. And if you're lucky enough to be in the top five percent who will pay a little bit more, well, you're a lucky person to start with and you should be paying more.
(CROSSTALK)
BEINART: What happens is Republicans always play this game, Republicans always play this game when they start talking about taxes. They start talking about taxes, and then they add the word "income taxes."
PFOTENHAUER: I will talk about payroll.
BEINART: Payroll taxes are much more regressive. They fall much more aggressively on poor people. So do sales tax. So Republicans always talk about income taxes are so weighted against the rich. That is actually the most progressive part of our taxes.
PFOTENHAUER: Let me talk then, particularly, to payroll taxes. When you include payroll taxes with income taxes, the numbers do drop, but not demonstrably.
So you can look at it. You still see the top earners paying the lion's share of both the income and the payroll taxes, and you see the prime earners -- I'm not arguing for anybody to pay more taxes. In a recession, no one's taxes should be raised.
Since President Obama is not talking about raising anyone's taxes other than the upper earners I don't think Nancy is really too worried about everyone's taxes. Just the types she used to lobby for. Just a hunch.
Full transcript to follow.





