Here is what he said, since you are at work - Edit 1
Before modification by Roland00 at 24/08/2011 11:37:08 PM
See below
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Jon Stewart: That's the problem with poor people. They still have some of their skin. But you know what? Maybe they're right. Maybe Fox is right. Maybe the bottom 50% of Americans, while they already pay excise and payroll and Medicare taxes, do need to pay more. I mean, they can spare it.
Jon Stewart: After all, they control 2.5% of our nation's wealth. Oh, you know what? Actually, this is a pretty easy calculation, we can do this, the bottom 50%, it's just simple math. In dollar figures, the bottom 50% of this country have $1.45 trillion dollars in everything they own on this Earth. So let's see, they have $1.45 trillion dollars, what do you say we take, I don't know, half of that. That'd be... oh look at this, $700 billion dollars.
(audience applause)
Jon Stewart: Why does that figure sound so familiar to me?
CHRIS EDWARDS, CATO INSTITUTE (10/11/2010): The President wants to raise the top two income tax rates, which would raise about $700 billion dollars over 10 years. You know what? That's only a tiny fraction of the federal government's deficit.
Jon Stewart: So raising tax rates on the top 2% of earners would raise $700 billion dollars. But taking half of everything the bottom 50% have in this country would do the same. I see the problem here. We need to take all of what the bottom 50% have. All of it! It's the only way to make a significant dent! Now we're up to $1.4 trillion! And if you're worried about the poors, don't! Because they're defined by the Census as a family of four making less than $22,350 a year. Four! $22,350 a year! They'll be fine!
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Jon Stewart: That's the problem with poor people. They still have some of their skin. But you know what? Maybe they're right. Maybe Fox is right. Maybe the bottom 50% of Americans, while they already pay excise and payroll and Medicare taxes, do need to pay more. I mean, they can spare it.
Jon Stewart: After all, they control 2.5% of our nation's wealth. Oh, you know what? Actually, this is a pretty easy calculation, we can do this, the bottom 50%, it's just simple math. In dollar figures, the bottom 50% of this country have $1.45 trillion dollars in everything they own on this Earth. So let's see, they have $1.45 trillion dollars, what do you say we take, I don't know, half of that. That'd be... oh look at this, $700 billion dollars.
(audience applause)
Jon Stewart: Why does that figure sound so familiar to me?
CHRIS EDWARDS, CATO INSTITUTE (10/11/2010): The President wants to raise the top two income tax rates, which would raise about $700 billion dollars over 10 years. You know what? That's only a tiny fraction of the federal government's deficit.
Jon Stewart: So raising tax rates on the top 2% of earners would raise $700 billion dollars. But taking half of everything the bottom 50% have in this country would do the same. I see the problem here. We need to take all of what the bottom 50% have. All of it! It's the only way to make a significant dent! Now we're up to $1.4 trillion! And if you're worried about the poors, don't! Because they're defined by the Census as a family of four making less than $22,350 a year. Four! $22,350 a year! They'll be fine!
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