Peter Schiff on the Real Fiscal Cliff and “Fairness” 12/11/12

Peter Schiff also had some great exposure on the Rush Limbaugh show yesterday:

Now, there was a guy on CNBC. Does the name Peter Schiff ring a bell? It does to me. I’ve seen this name over and over. He is the CEO of something called Euro Pacific Capital. He lives in Connecticut. He was on CNBC recently, and he said, “First of all, I’m in the top two percent. Right now, I’m paying 45% of my total income in income taxes, both to the state of Connecticut and to the federal government, and if you take the 3% Medicare tax. After the tax hikes go into effect next year, more than half — more than half of my total income is going to go to the government. You tell me, what’s fair about that when medieval serfs pay 25%, I’m paying half?”

He’s introducing a new fairness argument here. What the hell is fair about the top 2% already paying close to half the income tax burden, and then having their income taxes go up? And he then said, “I don’t care what the majority voted to do, they don’t have a right to steal my money just because they vote for it.”

Oh, yes, they do. That’s where we are. They do have a right to your money, Mr. Schiff. That’s what the election of Obama meant. That’s why people voted for Obama. I am more and more convinced that the Obama voters knew what they were doing…

VIDEO