Strong language warning, Jon Lovitz really doesn’t care for Obama’s rhetoric about tax the rich, and he admits that he’s a Democrat and voted for Obama:
We already know that “tax the rich” doesn’t get you very much in the way of additional tax revenue, and even Obama himself has admitted that it’s just a gimmick, so I suspect that Lovitz is speaking for a lot of wealthy Americans who are sick and tired of being the target of class warfare, especially those who worked hard to get where they are, such as Mitt Romney, as opposed to marrying into or inheriting their wealth, like John Kerry or any of the Kennedys.
In fact, demonizing those that have worked for their wealth might actually have serious consequences for the economy as a whole, because they’re simply not going to work as hard or as much, in order to reduce the amount of income that the government can tax, which reduces overall tax revenues. If they’d lower rates, these hard working people would probably work that much harder, and expose that much more of their income to taxation. Look at it this way. Would you rather have 50% of $500,000 or 20% of $3,000,000?