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Monday, August 22, 2011

Former CEO of American Express On Raising Taxes On The Rich: 'After all, I did earn it'

Harvey Golub is a former chairman and CEO of American Express and he has a message for the MSM, Warren Buffet, Barack Obama and every liberal Democrat that wants even more of his money.


Over the years, I have paid a significant portion of my income to the various federal, state and local jurisdictions in which I have lived, and I deeply resent that President Obama has decided that I don't need all the money I've not paid in taxes over the years, or that I should leave less for my children and grandchildren and give more to him to spend as he thinks fit. I also resent that Warren Buffett and others who have created massive wealth for themselves think I'm "coddled" because they believe they should pay more in taxes. I certainly don't feel "coddled" because these various governments have not imposed a higher income tax. After all, I did earn it.

It is about time time someone said it and thank you Mr. Golub for finally being the one to do so.

He earned his money and liberal Democrats and Barack Obama want to take more from him than they already do. He explains exactly how much they already take from him.

Now that I'm 72 years old, I can look forward to paying a significant portion of my accumulated wealth in estate taxes to the federal government and, depending on the state I live in at the time, to that state government as well. Of my current income this year, I expect to pay 80%-90% in federal income taxes, state income taxes, Social Security and Medicare taxes, and federal and state estate taxes. Isn't that enough?

"Here's my message: Before you "ask" for more tax money from me and others, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely. Then you'll need less of my money."---- Harvey Golub

Read the whole thing.

Noel Sheppard at NewsBusters likens the the spending problem the government has to a drug addiction:

Going back to the illicit drug analogy, we currently have a government hooked on spending. The Left claims the solution is to give it more money.

Isn't that like claiming you can cure a junky's problem by giving him more heroin?

Why yes it is. Also as any drug addict will do, they will go to any length. They will lie, they will cheat and they will steal to get their next fix.