President Obama’s latest proposal to raise taxes on high-income earners would effectively cut taxes for a number of senior White House advisers whose net worth exceeds $1 million.
At least five millionaires currently employed in senior White House positions would receive a tax cut under Obama’s plan, an initial Washington Free Beacon review of financial disclosure records has found.
White House Communications Director Dan Pfeiffer, Press Secretary Jay Carney, Cabinet Secretary Chrisopher Lu, and senior advisers David Plouffe and Valerie Jarrett would all benefit under Obama’s plan to extend current tax rates on annual incomes below $250,000. Each of them earns the maximum White House salary of $172,200 per year, records show.
“It seems hypocritical,” said Douglas Holtz-Eakin, president of the American Action Forum and a former director of the Congressional Budget Office. “These people benefited from these low rates when they made their millions, and will continue to benefit, while making it harder for other people to reach their level of success.”
“High marginal tax rates don’t hurt those who already made their money,” said Ryan Ellis, tax policy director at Americans for Tax Reform. “They hurt those trying to get theirs. It’s pulling up the ladder.”
Jarrett’s net worth is between $3.3 million and $13 million. Lu is worth between $2.3 million and $5.2 million. Plouffe is worth as much as $3.6 million, Carney as much as $3.2 million, and Pfeiffer as much as $2.1 million.
Read more: http://freebeacon.com/obamas-millionaires/
At least five millionaires currently employed in senior White House positions would receive a tax cut under Obama’s plan, an initial Washington Free Beacon review of financial disclosure records has found.
White House Communications Director Dan Pfeiffer, Press Secretary Jay Carney, Cabinet Secretary Chrisopher Lu, and senior advisers David Plouffe and Valerie Jarrett would all benefit under Obama’s plan to extend current tax rates on annual incomes below $250,000. Each of them earns the maximum White House salary of $172,200 per year, records show.
“It seems hypocritical,” said Douglas Holtz-Eakin, president of the American Action Forum and a former director of the Congressional Budget Office. “These people benefited from these low rates when they made their millions, and will continue to benefit, while making it harder for other people to reach their level of success.”
“High marginal tax rates don’t hurt those who already made their money,” said Ryan Ellis, tax policy director at Americans for Tax Reform. “They hurt those trying to get theirs. It’s pulling up the ladder.”
Jarrett’s net worth is between $3.3 million and $13 million. Lu is worth between $2.3 million and $5.2 million. Plouffe is worth as much as $3.6 million, Carney as much as $3.2 million, and Pfeiffer as much as $2.1 million.
Read more: http://freebeacon.com/obamas-millionaires/
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