Campaign 2010

Apr 11, 2014

Three Things Millionaire Partydude Stewart Mills III Would Rather Discuss Than the Ryan Budget

It’s no surprise that Millionaire Stewart Mills III won’t talk about his support for Congressman Paul Ryan’s budget. Mills says he’s “personally offended” when millionaires like himself are asked to pay their fair share. Here are three things Mills has spoken to Minnesota reporters about, rather than his support for Congressman Paul Ryan’s budget that would raise taxes on the middle class and cut taxes for millionaires like Stewart Mills:

  1. Beer Bongs
  2. His love for the Green Bay Packers.
  3. ‘Reptile impressions’ on the face of a woman who is not his wife

“Stewart Mills made it clear when he said he’s offended that the millionaires like himself are asked to pay their fair share that he would march in lockstep with Congressman Paul Ryan’s budget that raises taxes on middle class Minnesotans in order to cut taxes for millionaires,” said Brandon Lorenz of the Democratic Congressional Campaign Committee. “Stewart Mills would rather protect the wealthy and corporate special interests than side with Minnesotans who have to work for a living.”

BACKGROUND:

Mills Said he was “Personally Offended” of Claim that the Rich are Undertaxed. In June 2013, Mills was personally offended at claim that the wealthy did not pay enough taxes. “What happen in the last couple elections, where you have folks saying that the wealthy are not paying their fair share that there are all these loopholes and they don’t pay any taxes and we have to make them pay more.  Well you know what… we’ve paid all of our taxes, we reinvest the money that we make into our business.  We provide jobs for people, we provide health insurance for people. We are part of this community and then beyond that we support community and civic endeavors.  We donate to charity, we help with events, we do a lot of things for this community, and to be singled out as a deadbeat, is personally offensive,” Mills said.  [Crow Wing County GOP 2nd Amendment Rally, 7/20/13]

Republican Budget Plan Would Encourage Companies to Ship Jobs Overseas.  The National Review reported that the FY 2015 Republican Budget would reform the tax system by “reducing the U.S. corporate tax-rate from 35 percent to 25 percent and shifting from a worldwide tax system to a territorial system.”  The Tax Policy Center previously reported that a territorial tax system “might encourage some domestic companies to move more of their operations- and shift both jobs and more reported income- to low tax countries.” Citizens for Tax Justice reported: “The tax incentives for job offshoring and profit shifting would increase if Congress adopted a ‘territorial tax system.’” [National Review, 4/02/14; Tax Policy Center, 2/28/12; Citizens for Tax Justice, 10/19/11]

Citizens for Tax Justice: Republican Budget Would Give Millionaires a $200,000 Tax Cut.  “As in previous years, House Budget Committee Chairman Paul Ryan has released a budget proposal that includes some specific, enormous tax cuts with a vague promise that the amount of revenue collected by the federal government would somehow be unchanged. There is no way the plan could be implemented without providing millionaires with tax cuts averaging at least $200,000.” [Citizens for Tax Justice, 4/02/14]

CBPP: Reducing Top Tax Bracket to 25 Percent Would Cost $1.1 Trillion Over 10 Years.  “The costliest of the new tax cuts in the House budget would shrink the top individual tax rate to 25 percent, its lowest level since before the New Deal (see Figure 2).  TPC estimates that eliminating the tax brackets above 25 percent would cost $1.1 trillion over ten years.  (This would be in addition to the $700 billion cost of extending the Bush tax cuts for those in the top brackets.)” [CBPP, 5/26/11]

New York Times: Republican Budget Would Lower Taxes for the Wealthy While Raising Taxes on the Middle Class by $2,000. “The budget lowers the top tax rate to 25 percent for the wealthiest taxpayers, down from the current 39.6 percent, while raising taxes on middle-class families with children by an average of $2,000.” [New York Times Editorial, 4/01/14