The venture capitalist will allow that when he compared progressive politics to Kristallnacht, he may have exaggerated slightly: He knows the 1% will not literally go extinct, for mathematical if for no other reasons. But just in case, he’s come up with a plan that will keep them protected.

When challenged to say, in 60 seconds, how he would change the world, Perkins made a playfully controversial response. He suggested that, in the tradition of Thomas Jefferson’s voting land owners and Margaret Thatcher’s idea of only allowing taxpayers to vote, “The Tom Perkins system is: You don’t get the vote if you don’t pay a dollar in taxes. But what I really think is it should be like a corporation. You pay a million dollars, you get a million votes. How’s that?” To which the audience responded with laughter. Perkins later said offstage that what he meant was that, with 50% of registered U.S. voters not paying taxes, “we got ourselves into a mess.” [...]

The last question an audience member asked at the end of the event was what the 1% fears. While the Jews of Nazi Germany feared deportation and extermination, what was it that made Perkins afraid of “the war on the 1%?” Perkins said the fear is higher taxes until there is no 1%. “It’s an economic extinction, not a physical one.”

To reiterate, all he meant was an economic genocide, not a real one, and that separately, it would be great if we could come up with a two-pronged tax plan that gives the rich more votes, and makes them count even more by disenfranchising the poor. If TP keeps being this reasonable, the firm he founded may have to stop telling people they’ve never heard of the guy.

Tom Perkins: Taxes will lead to ‘economic extinction’ of the 1% [Fortune]

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Comments (17)

  1. Posted by Guest | February 14, 2014 at 1:45 PM

    Tom, you are not helping.

    - the 1%

  2. Posted by Guest | February 14, 2014 at 2:23 PM

    Since it worked so well when Romney discussed the 47%, I'm surprised Perkins thinks more needs to be said.

  3. Posted by Guest | February 14, 2014 at 2:35 PM

    Tommy, how many times did we go over this? Mathematically, there will always have to be a 1%! This is why I had to fail you.

    - Ms. Jenkins, Tom's 9th grade math teacher

  4. Posted by St. Copious | February 14, 2014 at 2:41 PM

    For someone so proud of his 1% status, you think he'd put on a shirt and tie worth more than twenty bucks (combined) on the day Fortune magazine was coming with a photographer.

  5. Posted by Alan Miles | February 14, 2014 at 3:01 PM

    I really wonder where these statistics come from. The 47% number was always crazy – it includes children as non-taxpayers, for example – but where do we get "50% of registered voters don't pay taxes?" When someone makes an outlandish claim with a statistic, we need to ask how it's defined.

  6. Posted by guest | February 14, 2014 at 3:06 PM

    and he's only basing "paying tax" on paying income tax. What about all those benefits people who pay tax on their cigarettes and quarts of Colt 45?

  7. Posted by UFO | February 14, 2014 at 3:17 PM

    I got an idea….we rob the guy and make ourselves the 1%. After the genocide will be the reincarnation of the 1%. I know this is BS, but hey, a boy can dream

  8. Posted by Guest | February 14, 2014 at 3:26 PM

    He's right. Just look at what the IRS is doing to Michael Jackson's family.

  9. Posted by Guest | February 14, 2014 at 3:34 PM

    focus on the watch

  10. Posted by T. Woods | February 14, 2014 at 4:11 PM

    I enjoy his breakfast restaurants.

  11. Posted by gab | February 14, 2014 at 5:51 PM

    Do we get to count lottery ticket purchases?

    Signed,

    47% analyst

  12. Posted by Guest | February 14, 2014 at 5:52 PM

    I bet that will make a great paper in your philosophy class.

  13. Posted by the bro | February 15, 2014 at 6:08 PM

    i got a six pack of those ties

  14. Posted by Guest | February 17, 2014 at 2:57 PM

    Go shill your shitty website elsewhere.

  15. Posted by Guest | February 17, 2014 at 10:00 PM

    No, the stat doesn't include children. It's based on households who pay $0 of federal income tax. So is an overstatement to say that 47% pay no tax – they're paying FICA payroll taxes, plus paying state and local sales and property taxes – but they aren't paying any federal income tax, which is the largest individual tax in terms of dollars collected.

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