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article imageFilmmaker Ron Howard calls 90 percent tax era one of 'nostalgia'

By Michael Krebs     Sep 22, 2011 in Entertainment
Filmmaker and 'Happy Days' sitcom actor Ron Howard appeared on MSNBC and said he would support a higher tax structure for upper-income Americans, in line with President Obama's latest proposals.
According to the non-partisan Tax Foundation, Americans earning $1 million or more pay an average income tax rate of 24.6 percent, while Americans earning between $40,000 and $50,000 pay an average income tax rate of 6.8 percent.
While this disparity may seem unfair to many people, President Obama's recent proposals to increase taxes on Americans earning $200,000 or more is receiving support from some high-income celebrities. The latest celebrity to publicly endorse the White House plan is filmmaker and former "Happy Days" sitcom star Ron Howard.
In an appearance on MSNBC, Mr. Howard did not object to what has become known as the "Buffett Rule," referring to Warren Buffett's position that wealthy Americans should experience an increase in their tax rate.
"To be honest, I remember on The Andy Griffith Show when income taxes for the upper levels were as much as 90 percent," Howard said. "And that's the year that we often look back to with great nostalgia, and it was a time of tremendous growth. So, I'm not adverse to paying some taxes to try to help the country grow and the economy grow."
However, as Fox Business reported, Mr. Buffett was citing an incorrect figure in the opinion piece he wrote for the New York Times, drawing his conclusion that the wealthy should pay more based on the 17.4 percent rate he paid on his capital gains revenue. The vast majority of Americans do not receive their core income from capital gains revenue.
While President Obama has suggested his new tax proposals are "math" in the face of difficult economic times, the Republican leadership in Congress believes the White House move is akin to "class warfare."
"Class warfare will simply divide this country more. It will attack job creators, divide people and it doesn't grow the economy," Rep. Paul Ryan told FOX News, according to an ABC News report. "Class warfare may make for really good politics, but it makes for rotten economics."
"I'm with Warren Buffett on this one," Mr. Howard concluded.
More about ron howard, Happy days, Taxes, Income tax, Obama
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