In response to Bill O’Reilly indicating he may quit his job if his taxes are raised, Lawrence O’Donnell emphasized how the Fox personality banked on “his audience’s gullibility” to believe his “lying.”

On The Last Word Monday evening, the progressive opinion host corrected O’Reilly’s claim that President Obama would raise his taxes, reminding O’Reilly that it’s Congress’ job and not the president who raises tax rates.

“O’Reilly has to lie about everything in that statement in order to make it credible to his audience, whose gullibility he has precisely calculated in the lies he has loaded into that sentence,” the MSNBC host said.

O’Donnell than proceeded to expose O’Reilly’s belief that he wouldn’t be able to continue working if taxes were raised back to levels seen during the Clinton administration, pointing out that O’Reilly came into his wealth and fame during that period of time.

“He knows his audience doesn’t know that tax rates are not up the president. And he knows his audience doesn’t know that no one is proposing a tax rate of 50 percent. And he knows his audience doesn’t know that Bill O’Reilly very happily started doing The O’Reilly Factor and became a multi-millionaire when the top tax bracket was 39.6 percent, the bracket he is so fearful of now.”

“O’Reilly has actually already proven what he would already do if the top tax bracket goes to where it was under President Clinton, 39.6 percent. O’Reilly would do the The O’Reilly Factor every night and get richer, and richer, and richer. ”

WATCH: Video from MSNBC, which appeared on September 21, 2011.

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