Breaking out an image of the character Thurston Howell III from Gilligan’s Island, Hatch said those with incomes of over $200,000 shouldn’t be lumped in with “Warren Buffet or Gilligan’s Island’s resident millionaire.”
And you know what, Senator Hatch is right. We need more income tax brackets to keep all the members of the top 2 percent of rich people from being lumped together. The millionaires and billionaires totally deserve their own marginal rates! It would be a mark of distinction, with bragging rights. If we restored progressivity to the income tax, then it would really mean something to be able to say you were in the top bracket. You know Thurston Howell III would hate being mistaken for somebody just scraping by on $200 K a year.
Of course, Senator Hatch wasn’t saying that. He was trying to explain his remarks from last week about how the poor and middle class have too much money.
GRAPH: As Wages Stagnate, The Typical American Family Is Working 26 Percent Longer Than In 1975
UPDATE: This just in from Senator Hatch:
You are invited to participate in the Salt Lake County Tele-Town Hall Meeting this evening, July 12, 2011 from 6 pm-7pm. You can do so by calling in at 1-888-886-6603 Ext.16885# and staying on the line to ask me a question. I will also be calling out to thousands of residents.
The meeting only lasts for one hour, so a limited number of questions may be asked on the air. However, if I cannot get to your question, I invite you to stay on the line after the meeting ends so that you can leave a message for me. I will make sure to respond to each message within the next few weeks. I appreciate your input and hope you will participate.