A Great Argument For Raising Taxes From Bill O’Reilly

Bill O'Reilly makes a convincing argument for raising taxes on the wealthy.

Kevin Drum relays an excellent argument for raising taxes from Bill O’Reilly:

If Barack Obama begins taxing me more than 50 percent, which is very possible, I don’t know how much longer I’m going to do this. I like my job but there comes a point when taxation become oppressive.

It’s obviously not possible, politically or otherwise, for Bill O’Reilly to pay an effective rate of over 50%. Obama isn’t pushing for it and it’d never get passed Congress. Even a top marginal rate of 50% isn’t going to happen. (Though if anyone ever pushes for it, I hope they argue that we need to return to “Reagan-era tax rates,” just to see the rhetorical call and response.)

That said, like Kevin, normally I wouldn’t support a marginal rate that high (I think returning to Clinton-era taxes once the economy recovers is just fine), but if a high marginal rate means that Bill O’Reilly quits his job, well… that’s a nice ancillary benefit.

Of course, what’s sad about this is that Fox News is so far gone that losing O’Reilly means losing one of the few sane voices left on Fox. Yeah, that scares me, too.

(Image Credit)

FILED UNDER: Deficit and Debt, Humor, Taxes
Alex Knapp
About Alex Knapp
Alex Knapp is Associate Editor at Forbes for science and games. He was a longtime blogger elsewhere before joining the OTB team in June 2005 and contributed some 700 posts through January 2013. Follow him on Twitter @TheAlexKnapp.

Comments

  1. effusing says:

    As the 2nd most powerful person in America, according to Himself, I’m certain Mr. O’Reilly won’t let those tax hikes happen!

    I’d buy him a one-way ticket to anywhere outside the U.S.

  2. Herb says:

    Not just O’Reilly, but anybody with this attitude. If they don’t want to make some money and be useful to the world, then maybe they really should just quit. At least O’Reilly has the luxury of being able to afford it.

    Make room, I say.

  3. A voice from another precinct says:

    It does provide on of the best arguments for raising the tax rate that I’ve heard in a long time. I say, “let’s go with it and see how it works.”

  4. Hey Norm says:

    Historically low effective taxation is now “oppressive”.
    The arguments of the so-called republicans…in this case direct from HQ…don’t even pass the giggle-test.

  5. jpe says:

    heh.

  6. Ben Wolf says:

    If taxation did take 50% of his income O’Reilly wouldn’t quit. Still, it’s a worthy experiment.

  7. Rob in CT says:

    He’s done what he wanted to do: spread the lie that the eeeevil Obamamonster is trying to take 50% of his income. It’s “very possible” you know. Serious issue!

    The part where it’s a pile of bullshit? Well, that’s just what some liberal says.

  8. Fiona says:

    Bill’s going to quit if his taxes get too high. Yeah, and Rush was going to move to Costa Rica if Obama’s health care bill passed. But alas, he’s still here spewing poison.

    The right wing nonsense never ends.

  9. Wayne says:

    So you all want to chase rich people and profitable companies out of the U.S. Yeah that will get the country’s economy rolling, rolling into the sewer. What bright people you are.

  10. Wayne says:

    @Fiona
    Rush said Obama Care would ruin the U.S. healthcare therefore rich people like himself Rush would go to Costa Rica to get quality healthcare not move there. Try getting your facts right.

  11. Wayne says:

    Just a reminder, even Obama in his Joint Session of Congress said we need to give tax breaks to attract many businesses back to the U.S. Right before he stated we need to tax business even more.

  12. Drew says:

    Good snark. No substance.

  13. Steve Verdon says:

    He’d quit his job in protest? Ha! Got it without reading the post…. :p

    It’s obviously not possible, politically or otherwise, for Bill O’Reilly to pay an effective rate of over 50%.

    Seems very possible theoretically speaking.

  14. Liberty60 says:

    @Wayne:
    Rush needs to go to Costa Rica to get his Via_gra prescription refilled?

    How odd.

  15. sandra says:

    Who cares, they guys an idiot!

    FIGHT THE CAUSE – NOT THE SYMPTOM
    OsiXs (Revolution 2.0)

  16. Ben Wolf says:

    So you all want to chase rich people and profitable companies out of the U.S. Yeah that will get the country’s economy rolling, rolling into the sewer. What bright people you are.

    Where are they going to go, Thailand? They’ll take what we give them and like it.

  17. An Interested Party says:

    So you all want to chase rich people and profitable companies out of the U.S.

    Outside of Herb, who mentioned people with the same attitude as O’Reilly, everyone else directed their comments solely to O’Reilly…how exactly did you stretch that to conclude that commenters want to “chase rich people and profitable companies out of the U.S.”? And you wrote something about bright people…heh…

    Rush said Obama Care would ruin the U.S. healthcare therefore rich people like himself Rush would go to Costa Rica to get quality healthcare not move there.

    Well hell, Rush was already traveling to the Caribbean as a sex tourist long before PPACA was even thought of, so he obviously already had some experience with the region…

  18. Wayne says:

    O’Reilly’s point was that if you raise tax too high you will chase away business. Many States have found that out.

    Many companies have taken their money and investments overseas. Like I said even Obama acknowledge that in his Joint Session speech. They have taken it to China, Mexico and many other countries. So yes there are other options. Also because our tax system tends to favor overseas companies, many companies have taken their HQ overseas then bring its business back into the U.S.

  19. Wayne says:

    Do any of you really think that you can tax people and companies all you want without chasing them away or at a minimum hurting business?

  20. Fiona says:

    @Wayne:

    Here’s what Limbaugh said:

    Limbaugh: My guess is even in Canada and even in the UK, doctors have opted out. And once they’ve opted, they can’t see anybody Medicare, Medicaid, or what will become the exchanges. They have to have a clientele of private patients that will pay them a retainer and it’ll be a very small practice. I don’t know if that’s been outlawed in the Senate bill. I don’t know. I’ll just tell you this, if this passes and it’s five years from now and all that stuff gets implemented — I am leaving the country. I’ll go to Costa Rica.

    Sounds like he’s saying that he plans to leave the country. The larger point, however, is that both Limbaugh and O’Reilly are blowing smoke out their ass. As long as they keep making millions off of their schtick, they’ll keep selling it. Here.