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Will Smith's tax epiphany

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    Hollywood star not 'jiggy' with idea of paying 75 percent in taxes

  • Duration 6:56
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Welcome back.

So Robin Hood is a beloved character from movie makers appearing in countless films and TV series.

But what if -- were real well UN human rights experts have -- the funny hat in -- As they push for a financial transaction tax dubbed a Robin attacks since it's tax is rich nations in order to pay the -- -- for all sorts of stuff.

Of course advocacy groups love it and whenever they want something they firmly believe you should pay for it.

That taking the advice from the UN on human rights is like asking Dana it to grab something from a high shelf at the -- just not possible because she shall -- But still it plays well for people who love noble rhetoric but can't balance a checkbook meaning celebrities celebrities love these -- Take Will Smith who showed up on French TV talking taxes.

Her last week Smith said he supports the Buffett rule.

And taxing the rich more but even he has limits after hearing that France's new president might raise that rate to 75% -- Yahoo! won't it make -- good seasons he's.

You who don't didn't go to content model that I got -- to -- Europe.

And if you tell Kamimura doomed and young movies performance in terms of emotional as good as the only players anchor good seamless I don't -- news -- actually -- you -- some that a citizen doesn't intimidate them.

-- -- -- -- -- -- -- I only black yeah that's different moments like they're under -- -- seventy but I don't -- Or are you know what god bless America.

Yeah I tax than to that was painful.

But there is a celebrity having a Jen you wine -- if -- be on live TV you don't see that often.

It's like a young man looking -- -- first base it's seeing the government -- Luckily for most celebrities they -- so much money it doesn't matter which is why Robin Hood is their hero as long as he only robs from you.

And gender -- can't.

Of him is an adorable.

They're I -- Wilson hit it.

Isn't it neat how we just suddenly discovers what that the world is different yes I loved watching that and I would like to encourage mr.

Will Smith to live.

In Paris island in France and night it's like you make fun of the French he's a little expects the friend that's why -- parents that was so funny when you realize the number of affinity by.

Because mostly it would have never been able to be Will Smith in France -- French celebrities.

Crates very grades and taxes in France not great the unemployment system that number in France not grade the job market not great in France.

The health care in France not great.

He never could have been gone from the Fresh Prince of Bel Air to -- is now and so.

He admits that -- he actually says that that he's at America's great place.

They want -- and I'm willing to shovel more money into this system which is what I disagree with them is that I don't think you -- government -- all that.

-- gets all that gratitude I think it's his own initiative an individual.

I'm I'm I'm very confused I know I'm just sitting in for Bob and I'm looking outside and -- New York around -- are we in Paris France and are we suggesting that we have 75% tax no.

We're in the United States it clearly gives credit tiered -- -- pretty close let -- -- -- the wrong city I'm ready I'm in Los Angeles, California and it is its -- and look into what I'm getting he's talking about thirty.

Person -- talk about 30% the United States not 75%.

He's talking about how great our nation is we're not proposing what what France is proposing this is definite.

Elliott Smith went out what are they how are they pretty good idea what -- what are they -- trying to -- yes 40% to 39 -- half percent tax and try to raise capital gains.

That's corporate -- they were trying to become as close to.

Socialist France is possible by the way.

It's not working in Europe so they're gonna do more of it they just -- did the reason why.

They're talking about a 75% because the socialists was just elected president of France France while Holland and on -- lot on.

And in so doing more of what's not working meanwhile we're trying to emulate that raise taxes read history distribute wealth.

Why are we doing that would -- California.

California's practically France and there's.

-- -- MIT and they're not a millionaire -- a lot on -- we -- fly abroad as of July or night to see alien like in.

I -- -- fleeing California because of the taxes there and they're moving to other states.

That is true also -- -- believe it or not -- -- and regulated in the UK.

People are trying to leave France and are to live in the UK because attacks -- is not as bad that's like going to -- let me get your -- -- except -- Justice I'm which she did an it was a really it was -- that -- Not gonna -- about -- Robin that they prep for just a moment now so there's this.

The G-8 meeting today's of the other groups wanna go unseat this is an evolution of something that they tried during the 1990s -- and the first part bid for -- this -- -- Which is they wanted the rich countries to pay that for climate change harm.

To the -- -- when that all fell apart now they're gonna go after the banks say they just that whatever it is whenever the going thing and that's what they -- glob on to.

-- -- and well -- it when they did it when they wanted to global aids fund.

The President Bush went for six months and said anybody else but any money and not a single country put any money -- until we did.

And -- the number out there in that bit number that that would raise his half one half of 1% of transactions.

Is 365.

Billion dollars a year.

Brought born mostly.

A good percentage to -- it -- Americans in our -- trading partners.

I detect are what -- I'm I actually support point eight I had and I am -- that support private sector efforts it's as well but a lot of money is very mismanaged and just goes into the dictators that's something like that here in New York State common stock transfer tax and even though they collected the reading it because they know if they -- people would -- like they're gonna do in France there's not even enough millionaires in France for them to tax yeah -- for this budget thanks I don't know what they're gonna what does that say that yet but -- they're -- not enough rich people when you talk about less than one less than half of 1%.

For Wall Street in their people on the left and the right were very myself included very opposed to the bailout.

Sorry it's pay back the banks can afford that's why -- reliably what is the yeah.

Well yeah -- -- that but what and I think that's the problem that what you what what do you get for that money.

And that's where people are rejected it might be able to pay for more if there's reform but there's not it's a -- and all other -- stuff on -- and I'm -- -- sort of frustrating I'm -- just yelling in my -- Dana I'm tired of this are.

All right coming up.

If you're thinking of buying stock in FaceBook forget it I bought it all that's right.

I -- an apology FaceBook.

That's not the company I mean the book of faces I -- I'm probably going to jail they believe now -- -- on button assured another button and --

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