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Representative Alan Grayson on What the Rich Might Do With Their Tax Cut

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On the House floor, Rep. Alan Grayons (D-Florida), who unfortunately did not win re-election in the midterms, stood up to explain to Americans just what it might mean for the top 1% if they get the tens of thousands of dollars an extension of the Bush tax cuts would give them. He explained how the Republican plan was to give every person in the top 1% $83,347 a year and shared a brief list of things these "high and mighty" individuals making an average of $1.4 million a year might purchase with the money from their tax cut.

One example:

"Here's one possibility: they can buy an $83,000 Mercedes Benz E-Class car, not just once, but every single year for the next decade...And each year, when they get tired of their brand new Mercedes Benz E-Class car, they can just give it to somebody 'cause they can afford another one. They can give it to a spouse, a sister, a son, a daughter -- anybody. Every single year for the next 10 years, the Republican tax plan is to give millionaires enough money for a Mercedes Benz."

Other items were revealed as purchases the top 1% could make each year because Republicans had extended their tax cut. He contrasted the suggestions with reality saying this is what working people in America would do with the money. If the money was put to better use and invested in jobs, the bottom 99% could begin to spend the money on things they need to get by and are struggling to afford.

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And, wouldn't that take some stress off this economy?

 

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Kevin Gosztola is managing editor of Shadowproof Press. He also produces and co-hosts the weekly podcast, "Unauthorized Disclosure." He was an editor for OpEdNews.com

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