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Thank you -- -- so let's move on that I can -- fashion she made more than twelve million dollars last year.
But -- state income repeat -- state income tax rate.
With just one percentage point above the middle class state income tax right.
Now that's all in California by the way.
Now one group is using -- -- as the poster child for that campaign to raise taxes apparently is working.
-- mall for the reason foundation is in California for the story.
Okay a group in California they wants to tax millionaires more raise that tax rate on million as so they put up king -- action and say hey look at this you make twelve million she should pay -- And you tell me that my campaign is working.
Well I don't know how much it's it's an insisting marketing ploy on their behalf they are trying to recruit.
Kim Kardashian and -- essentially embrace their proposal to raise taxes.
On millionaires notably Hollywood millionaires.
And aunts and therefore give their campaign more momentum so she hasn't agreed on a -- -- just and agreed to yet known known.
I don't know this is just an appeal to -- card action that they're making its independence -- -- pick her I mean obviously did they yeah ironic thing or did they say.
All come on can -- -- -- you know you you be the -- -- yeah.
Well Stuart you know she's -- widely respected financial advisor in the states California and we'll let -- for her pocket why does not a fitting California.
That did they do so much to try to.
Tax mall the very people most successful and that they need to stay in California why do you people do this.
Yeah I it's it's like momentum I was listening this morning to.
The tape tape from a few weeks ago.
When -- state announced these sort of automatic budget cuts they kicked the and they kicked in -- much lower than they were supposed to.
But the governor is clearly seeing and the democratic leaders in Sacramento -- clearly saying.
Look either we raise taxes this coming year or everything goes to pieces and that's all there is to it they're completely unwilling.
Even at this point to talk about reducing spending -- real.
Think what would you just stay there for 12 please -- -- -- -- with us here in New York taxing million -- is politically popular business.
It is politically popular because.
People think that the wealthy aren't paying as -- -- share their income in taxes as the middle class.
People in the middle believe they are paying a larger share their income than anybody else.
But there is not a desire to soak the rich to there's no desire to place limits on how what you can -- there is a core belief that if Stuart Varney earns twice as much as I do.
Well Stuart -- should pay twice as much in taxes as I do twice the rate twice the total tax bill if you work is -- -- say that most people don't.
That the top 1% -- 40% of all income taxes the Michigan into all of these details.
It did you talk about realized in commerce is not realized income and the people the top have gimmicks for getting around payment of taxes that people and lower income -- don't is that suspicion that fuels it.
It's not an economic debate.
Okay about -- -- -- don't wanna come back to you because I've got a second topic and I I'd need to get to this on running out of time to look that it does pay outrage via again.
Book please retired city manager.
He will get nearly 250000.
Dollars per year in pension pay and benefits he also got a 147000.
Dollar cheque -- unused sick and vacation days.
I'm doing is working like -- may 240000.
The year you would explain this one to us.
Yeah almost defies explanation this -- is actually going to get paid more per year when he's not working.
Then they paid him when he was working -- -- has their pension.
Their pension contract the contract he had allow is.
That his pension to be calculated on his highest salary which is -- last year plus whatever bonuses here and so.
He put in a really good year his last year racked up a bunch of bonuses.
And spike his last year's income so his pension would be based on -- Paramount's exactly getting.
A pension -- only 90%.
Of his income.
But it's more than is actual annual salary was because he gained -- the system.
And Berkeley had 75.
Retirees right now that are -- more than a 100000 a year in retirement through using the same technique.
All right agent with good enough for -- I -- move ahead.
Three's via it's it's unsustainable -- that you thought he should say that speculators are good I'm looking events and thank you US companies that sitting on nearly five trillion dollars in cash that's on their balance sheets.
So what are they gonna do with a lot.
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