On Thursday night's "Daily Show" Jon Stewart took a break from speculating about the GOP presidential race and did a lengthy segment on conservative pundits' contradictory views about the rich and the poor when it comes to deciding how to lower the deficit.
While the GOP wants to make low-level spending cuts to social, educational and other programs, President Obama and company suggest taxing the mega-rich. So it was pretty surprising this week when Warren Buffet wrote his op-ed saying he and his millionaire cohorts ought to be paying more taxes. Fox News called it "Class Warfare," with one pundit even calling Buffett a Socialist, which got a hilarious reaction from Stewart:
"You really have no f**king clue what Socialism is, do you?"
Stewart argued that closing corporate tax loopholes and raising the marginal tax rate to raise $700 billion over 10 years would be favorable, but a montage of Fox News hosts showed how they believe differently. They claim that Obama's plan is "demonizing" the rich and the "private jet class." Another argument is that it wouldn't even "make a dent" in our debt.
In the second segment, however, Stewart shows how the same pundits feel about the same taxes being implemented on the poor. It turns out they don't have the same "why bother" attitude, as another montage showed, when it comes raising their taxes or cutting their programs.
"All we have to do to raise $700 billion is cut 700,000 NPRs. It's almost too easy!" Stewart joked.
The most eye-opening part of the Stewart's bit occurs when, like the pundits he's mocking, takes out pen and paper and devises a plan he assumes Fox News would enjoy: The bottom 50% -- which controls 2.5% of our national wealth -- has $1.45 trillion. To raise $700 billion we just take half of everything they own! It's that simple.
Watch both clips below to see the full segment, including Stewart's reaction to Fox News' audacious break down of what constitutes "Poor." Surprise: if you have a refrigerator you probably don't need any financial assistance.WATCH: Part one
WATCH: Part two
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