Florida Democrat Alan Grayson is at it again.
In a little-noticed speech on the House floor Wednesday, Congressman Grayson -- who lost his re-election bid and is slated to depart Congress at the end of this session -- detailed just how much money the top one percent of earners would keep if the Bush tax cuts were allowed to continue: $83,347.
The Bush tax cuts reduce the top federal income tax rate from 39.5 percent to 35 percent. The tax cuts are scheduled to expire this year, and Republicans in both the House and Senate want them extended.
The top one percent of earners in the United States make $1.4 million dollars or more. If the Bush tax cuts were allowed to continue, those who earn this sum would get a tax break of $83,347 a year.
Grayson explains just how much of a break the richest one percent of Americans would get. ThinkProgress summarizes Grayson's list, which includes a top of the line Mercedes, a bottle of wine from 1787 and an expensive cigar for both morning and night that can be lit each time with a $100 bill.
- A Mercedes Benz E-Class Car Every Year: Grayson explained that the Bush tax cuts for the richest Americans would provide them with enough money to purchase an “$83,000 Mercedes Benz E-Class car, not just once, but every single year for the next decade.”
- An Elite Designer Handbag Every Year: The congressman revealed that the richest Americans could purchase a “gorgeous Hermies bag, a Birkin, for $64,800 dollars. Not once, but every single year for the next ten years. For which they will say to the Republican party, ‘Thank you very much.’”
- A Bottle Of Wine Bottled in 1787 Every Year: Grayson explained that the Bush tax cuts for the richest Americans would provide them with enough cash to buy a “bottle of Chatteau d’Yquem wine bottled in 1787 for only $56,588, that will leave them loose change in their pocket of $25,000. They can buy a bottle of wine from 1787 every year for the next decade. Thank you Republican Party.”
- 20,000 Jars Of Grey Poupon Every Year: “They can buy 20,000 jars of their favorite mustard, Grey Poupon. 20,000 jars,” Grayson exclaimed. “That’s certainly enough for them, their family, their friends, even a few poor people. Thank you Republican Party!”
Video of Grayson's floor speech follows.