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Steele: 'After taxes, $1 million is not a lot of money'

By Eric Zimmermann - 02/05/10 05:27 PM ET

RNC chairman Michael Steele has yet another gaffe to live down after arguing in a debate yesterday that $1 million isn't a lot of money.

Steele made the comments while debating former Rep. Harold Ford (D-Tenn.) at the University of Arkansas. The topic turned to taxes, and Steele criticized President Obama's plan to let the Bush tax cuts expire for wealthy Americans.

"Trust me, after taxes, a million dollars is not a lot of money," Steele said, according to the Associated Press.

Ford, who's gearing up for a primary challenge against Sen. Kirsten Gillibrand (D-N.Y.), taunted Steele for the remark.

"Who in here makes a million dollars a year?" Ford asked the college audience.

Source:
http://thehill.com/blogs/blog-briefing-room/news/80007-steele-after-taxes-1-million-is-not-a-lot-of-money
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Comments (20)

HAAAAAAAAAAAAAA AAAAAAAAAAAHAHA HAHAHAHA HAHAHAHAHAHAHAH AHAHA!!! O-M-F-G.BY Ethan on 02/05/2010 at 17:51
Steele also said: "The American people want […] to build consensus towards national health care reform" — That sound you just heard? Teabagger's heads exploding.BY Ethan on 02/05/2010 at 18:12
IMAGINE THE LEADER OF THE DEMS AND THE LEADER OF THE RNC BOTH OF AMERICANS OF AFRICAN DESCENT…TYRONE SHARDEL PRITCHARDGLOBAL UNDERSTANDING AND EXCHANGEENVISIO N A GREEN HAITI AND WTC/UNIVERSITY.BY TY S. PRITCHARD on 02/05/2010 at 18:43
This dolt keeps shooting himself in the foot.The problem is that his foot is always in his mouth.He is a gift that keeps on giving to the dems.Replace him now.remoBY jose on 02/05/2010 at 18:56
Resign Mr Steele.BY Reagan on 02/05/2010 at 19:48
So what if he said that? The pathetic thing is, he's probably right. It's so easy to rip off others who are objects of envy, like they don't deserve their own property, and it plays so well to certain types. God forbid the guy should defend somebody's right to their own money, whatever it is. Most people have no clue how much the taxes really are at that level unless they win a lottery. Suddenly, their perspective alters dramatically.BY warbugs on 02/05/2010 at 19:54
Well, Daddy Warbugs, why don't you tell us "how much the taxes really are" on a $1 million income? What, 30%? 40%? Could it possibly be more? Well, let's say that 50%- 1 out of every 2 dollars- is "stolen" by the US Government out of a millionaire's paycheck. That rich ass is still taking home $500,000 per year. On what planet is that NOT a lot of money? And what's YOUR perspective on that? Do you have any idea what it means to be "forced" to live on a half million dollars? I'm guessing the answer's no. Just a piece of advice, friend: you never will know. You'll scrape by, posting on Internet forums, dreaming of being allowed to "earn" that much money. And the folks who DO have that income? Well, they'll keep on laughing at you while you vote against your interests.BY Chris on 02/05/2010 at 20:48
An investment banker earning $500,000 a year gives half that to the government, so he's keeping $250,000. On average an investment banker at that level is working ~70 hours a week. I don't have a calculator but I think that works out to a guestimate of about $70 an hour or so, about half the rate charged by my plumber. So get over yourselves.BY Lydia Vann on 02/05/2010 at 21:12
Greetings Comrade Chris, thanks for the post and I'm sorry we're at odds, but I think you made my point for me.BY warbugs on 02/05/2010 at 21:20
Steele apparently lives in a bubble and has no concept of how 95% of America lives. He comes across like one of those clueless, soon-to-be ex-spouses explaining to the judge at a divorce hearing that they cannot possibly live within their means on less than $50,000 per month.BY labman57 on 02/06/2010 at 00:39

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