The Jon Lovitz Tax Rant: If Obama Loses the Hollywood Left
Many years ago, before it became associated with foreign intervention, neo-conservatism was simply a term for former liberals who migrated to the right. It was said that they had been “mugged by reality.”
We may need a new term, perhaps “Holly-tarians,” for folks in the entertainment industry who have begun to realize the downside of excessive government. I’ve already favorably cited Clint Eastwood for his pro-flat tax views and dismissed Arnold Schwarzenegger on national TV as a de facto statist, but there are other actors who deserve some attention.
I don’t know whether Jon Lovitz is a budding Hollywood libertarian, but (in addition to being a very funny character actor) he certainly seems a bit upset with Obama’s class-warfare approach to fiscal policy.
Since I couldn’t figure out how to embed the file, click on his image and it will take you to an audio file of him ripping Obama, high taxes, and occupy poseurs. Warning, there are plenty of naughty words, including ubiquitous F-bombs.
I will make one correction to his rant. He says that middle-income people have the same deductions that are available to rich people. That’s not really true. Rich people, as I have explained before, don’t rely on wage and salary income like the rest of us. Instead, they earn capital income and business income, which opens the door to a much larger degree of tax planning.
For what it’s worth, this is why Obama’s proposed tax increases won’t raise nearly as much money as projected.
But since politicians doubtlessly will increase spending in anticipation of higher receipts, the net effect will be bigger government and more red ink. In other words, business as usual in Washington.
http://finance.townhall.com/columnis...eft/page/full/