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Most of Hollywood is in President Obama’s camp, but not former Saturday Night Live star Jon Lovitz. In a recent media recording he rants about his tax burden with Hollywood director Kevin Smith.
Jon Lovitz: If I make a dollar, and out of every dollar, I’m taxed 50, half of 50 cents, I have to give isn’t that like enough?
Kevin Smith: Yes
Jon Lovitz: So for every dollar you make, two dollars, you have to give a dollar back. No, that’s not right. Your not paying enough. It’s Half!
Kevin Smith: Yeah, yeah I got you, I feel you. I pay…
Jon Lovitz: Half! And then they go, ‘well all the rich people have all these deductions.’ Well everyone in this room has the same deductions. You just didn’t know, learn about it. You have the exact same deductions. Do you drive a car? Did you take it to work? Deducted. Do you eat lunch? Deducted.
Kevin Smith: Hey hey, stop yelling at the 99%.
Jon Lovitz: It’s my club.
Kevin Smith: Yeah but don’t burn it down, man. Occupy Lovitz!
Jon Lovitz: You’re constantly thinking of ways to be creative and make money. What’s wrong with that?
Kevin Smith: Do you know why? Because the government takes half.
Jon Lovitz: That’s right and you had no money growing up, didn’t you?
Kevin Smith: None
Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox Bussiness Varney & Company to discuss how wealthy investors and clientele feel about paying half of their income to taxes.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Tags: ed butowsky, financial advisor, fox business, hollywood, jon lovitz, obama, performance, portfolio, president obama, saturday night live, sharpe ratio, tax burden, taxes, varney and company, wealth manager