Just scraping by on $400k a year….
After deductions, I’m sure….
Rep. John Fleming (R-La.) appeared on MSNBC Monday morning to express opposition to President Barack Obama’s deficit reduction plan, which includes a proposal to raise taxes on the wealthy.
Fleming charged that the plan is a terrible idea which kills jobs provided by wealthy “job creators” who pay personal income taxes. When asked about his business ventures — including his role in a number of Subway restaurants and UPS stores — from which he earned $6.3 million last year, Fleming told MSNBC host Chris Jansing that his business expenses left him with little to tax “by the time I feed my family.”
Fleming told Jansing that the $6.3 million is “before you pay 500 employees, you pay rent, you pay equipment and food.”
“The actual net income of that was a mere fraction of that amount.”
“By the time I feed my family, I have maybe $400,000 left over,” Fleming said.
via John Fleming, GOP Congressman, Blasts Obama Over Buffett Rule: I Can’t Afford A Tax Hike.