Wednesday, September 21, 2011

Tax the Rich? Tea Party lawmaker complains that he barely gets by on $600,000 a year... as it costs $200,000 just to feed his family - 20th Sept 2011

A Louisiana congressman who works as a doctor and owns several businesses is crying poverty over President Obama's tax plan, saying he's struggling to get by on the $400,000 left over after he feeds his family.

Rep John Fleming went on the attack on Monday, saying in an interview with MSNBC that the tax plan kills jobs by overtaxing business owners.

He said that higher taxes would slow job growth by making business owners less likely to reinvest to create new jobs.

Fleming, a doctor who also owns several Subway and UPS franchises, said that while he pulls in $6.3million a year, much of it is devoted to paying his employees, reinvesting in his businesses and feeding his family.

Rep Fleming told MSNBC's Chris Jansing: 'The actual net income is only a mere fraction of that amount.'

He added: 'My net income is more like $600,000 of that $6.3million... By the time I feed my family I have maybe $400,000 left over to invest in new locations, upgrade my locations, buy more equipment.' Read More