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Former VP's sale of Current TV to Al-Jazeera shows the global warming champion loves big oil money and hates higher tax rates
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His former vice president Al Gore a hypocrite.
-- of this.
Two months ago he was talking about raising taxes in the 1990s that the rich should pay there fair share.
The single most popular proposal won't we had.
Was to reduce taxes on working people and lift the higher rate.
Let's give an incentive to work and let's ask the the most fortunate -- it in our society include me and you 22 to do our fair share.
And we ought to do that again.
But insurance and there might be a slight glitch in the former vice president's thinking about everyone -- his fair share.
Apparently he doesn't want to apply that ruled himself or -- different idea of what his fair share is.
Watching Sandra Sean Higgins joins us and -- -- for -- -- -- taking some heat from some.
Why what's what's the latest.
Well according to -- near times reporter on DS sale of -- -- Al-Jazeera.
He was making extraordinary.
Effort to get this deal done before the end 2012.
The reason for that is under the new tax code that -- present Obama -- just -- just over.
The capital gains tax rate goes from 15% to 23 point 8%.
Now since Al Gore owns about 20%.
Current TV -- it was sold for 500 million dollars he's hitting hundred million dollars from the sale.
If he has sold it.
In 2012 you you're paying 15% -- -- paying about.
Fifteen million dollars in taxes the tax fight goes up -- 23 point 8% had.
Time now he's paying 23 point eight million give or take him in his -- back at him flow estimates.
But he's attempting to reduces tax -- by about nine million dollars.
By trying to get this done early.
Well another another mollid tax avoidance which it is tax avoidance or arm or rubbed -- have been -- -- Governor -- again you.
Got hit hard for -- -- the tax -- he was paid on his sick investment income it's a whole a whole idea that the critics are saying is that he was.
Pushing it release of New York Times -- he's tried everything he could to quote.
Meet meet the deadline nothing wrong with that except for the question -- that have been a hypocrite when you're asking others to pay.
What in of itself there's nothing wrong with trying to arrange your finances and a way to lower your tax liability that's something everybody does.
In fact and changes in tax rates treat this type of behavior you see this when they change rate lower you know people do things differently -- consequences when that.
Fundamental things of economics.
But yeah I mean as your segment earlier -- I -- he was telling that saying earlier that the rich need to pay their fair share -- the need to pay this higher rate.
For the good of everybody but when it came to time for him to do that.
He had a different idea about it.
Now who -- I don't I don't understand precisely what he was thinking I don't have the inside information on that but.
Either he thought -- didn't find him -- he didn't consider the fact that trying to do this was a violating what he was talking about before about the fair share.
Why couldn't make the deadline and that sort of peculiar minutes ahead you have -- so mention that he didn't make the deadline.
That's a good question Saddam in as hard as I don't know precisely why they weren't able to do that.
Because on the information that they were trying to sell -- they came out actually as far back as October.
So it's not clear why it took them this long to do that but.
You know these are complicated deals sometimes it may just have -- that want to do it and they may not where they may not realize that you know -- -- was taken as positive.
Yeah it's true to that they've got into this class warfare situation this country you know -- people actually I'd say it's it's gotten ugly and going yeah great.
-- -- everyone's grabbing for what every cannon people are criticized everybody for whatever they do.
It is kind of ugly and one of the if you -- things about it is everybody thinks -- somebody else is doing something wrong and I think that's what may have happened here -- Al Gore.
So yeah AA abusive toward you make certain those -- you pay their fair share make certain they do what's.
You know what's right now he wasn't thinking that made it may also apply -- himself.
And -- he's already very wealthy man he's not even wealthier man but.
Apparently they never conquered his own mindset that he was on the people he was criticizing the first place like that pay its fair share that they think chilly -- but for not paying his fair share.
And I John thank you very much thank you very much -- coming.
