Patriotic Millionaires: It's Socialism For the Rich

by
Abby Zimet

Two dozen members of the Patriotic Millionaires for Fiscal Strength were in D.C. this week begging the deficit supercommittee and other members of Congress to kill the Bush tax cuts and raise their taxes dammit because that's obviously how to help the economy. Wow. How dysfunctional is Congress that these guys had to come to them with this eminently reasonable argument? Video.

"It's a Las Vegas economy where regular Americans put their money on the table and the richest 1 percent own the house. And if the 1 percent happen to lose money, the 99 percent bails them out – covers their losses and then stands by watching while the house does it all over again." - Patriotic Millionaire Robert Johnson, former chief economist of the U.S. Senate banking committee.

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