Civilians Who Run Full-Page Ads In The New York Times (Norman Lizt Edition)

(A new feature tracking individuals who buy full-page ads in the Times, several of whom the hardworking staff has noted before but is too lazy to look up right now.)

From Monday’s New York Times (sorry, the hardsearching staff couldn’t find a more legible version):

But here’s a decent description from an Atlanta Journal Constitution blog:

An eye-catching full-page advertisement appeared in The New York Times today from a self-described affluent business owner.

The ad is titled “Why This Fat Cat Likes Obama’s Tax Plan,” but be assured that the heading is tongue-in-cheek.

The writer, Norman Lizt of La Jolla, Calif., says he pulls in “close to eight figures annually” and has built a substantial net worth as a sole, private equity investor. He says he also employs a half-dozen people and contributes to charities.

But Lizt says that if President Obama is reelected and his “redistributionist tax agenda” is achieved, his marginal rate of taxation (he lives in California, and that’s factored in) will edge over 50 percent. That, he says “represents the crossing of an inviolate threshold … and is entirely unacceptable.”

And so, he says, “I probably will simply shutter my business and say my sweet farewells to a half dozen great employees (who are unlikely to equal their current remuneration elsewhere … if they are fortunate enough to get new jobs in this economy).”

Then, he says, will simply ride off into the sunset with his fiancee.

“To Barack Obama, I say thank you …” he concludes, “… for freeing me from the yoke and bondage of my current endeavors and providing a newfound freedom. I just hope, however, that there are not thousands and thousands of others in the same position as I am in … the multiplier effect on jobs, the economy and charitable giving could be devastating!”

Just as this ad hopes to be.

But isn’t.

 

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17 Responses to Civilians Who Run Full-Page Ads In The New York Times (Norman Lizt Edition)

  1. S. Czarnecki says:

    I read that page the other day. What did it cost him?

  2. Hell, my dad paid way more than 50%, under Eisenhower, no less; what’s this guy’s freaking problem?

    What a self-absorbed crybaby. Makes 8 figures, lives in the most affluent state in the country, enjoys the protection of the US armed forces, the police and fire departments, the FDIC, SEC, etc., — and he’s complaining about paying for it?

    Hey, Lizt: check out this list. You can move to Albania — much lower taxes there. But you’ll need more than 6 employees to help you hold onto it.

    http://en.wikipedia.org/wiki/List_of_countries_by_tax_rates

  3. I think you are missing the point Lizt made very well. Something is really wrong with tax laws that give the government Robin Hood powers. Someone who has worked hard and made sacrifices and built a business should not be taxed so unreasonably that he is better off not running his business or contributing to the economy in many other ways (jobs, product, etc). The point is to humanize his plight and show that is not unusual. People who earn a good living aren’t the bad guys and they aren’t all Republicans either. I salute his courage to take a stand and his intent to show how simply preposterous the Obama plan is.

    • I agree – it’s positively heroic of him to encourage the government to cut my taxes (again) and pay for it by raising taxes and cutting services to those who can least afford it.

      Otherwise, guys like Lizt and I are liable to pick up our toys and go somewhere else, like for instance, 1941 Nazi Germany, which had a tax rate of only 13.7%.

      Btw, there’s no evidence that Norman Lizt did or did not “made sacrifices” to acquire his vast wealth — but shall we assume Robert Lizt will someday make the argument that he did? I suppose it’s possible, since Robert is one of Lizt’s “half dozen great employees” he’s threatening to throw into the street.

      http://www.ljcinvestors.com/team.html

    • Pnaut says:

      Isn’t Obama’s tax plan just a return to the top rates during the Clinton years and leaves the Bush rates in place for everyone else? If you think that’s preposterous I’m not sure you’re really informed as to what Obama is actually proposing. That 39% top marginal rate was in place during the 90′s, the time of the greatest economic growth in US history. As an investment specialist I’m sure much of Lizt’s wealth is taxed at the capital gains rate which is far below that for income taxes, so all of this makes little sense financially or morally.

  4. JimG says:

    Does anyone believe this whiner will actually pay 50% in taxes? If he’s so smart and rich and self- employed,where’s his tax attorney to find him the ample loopholes that Mitt Romney uses to lower his taxes to a rate in the teens? He knows perfectly well that Fat Cats don’t really pay top tax rates.
    And why didn’t he quit during the Clinton years, when taxes were at the “inviolate threshold” rate ?

    • He’ll “shutter” his business when he says his “sweet farewells” to his son, who is one of his “half dozen great employees.” Which is to say, never. Just another B-school blowhard.

      The funny part is that somewhere there’s a GOP campaign manager who’s banging his head against the wall that the NYT got Lizt’s money instead of his candidate.

  5. James Nadeau says:

    Reading the Lizt ad; the name of Jim Haggard the Colorado Springs minister that raged against homosexuals came to mind. For those who don’t remember Haggard, it turned out he was having homosexual trists. Lizt did not talk about his tax history in his add. My guess is that Lizt is a hypocrite: payed a low tax rate over the last several years(similar if not less than Romney), has overseas tax shelters (legal or otherwise) and makes little in terms of charitable contributions(even though he talks about leaving his estate to charity). I would have received his message with more credability if he demonstrated that he is not one of the “just don’t tax me” rich folks.

  6. Claudia says:

    Isn’t this really a political ad and labeled as such?

  7. reallybearish says:

    This piece is straight out of Ayn Rand’s ATLAS SHRUGGED, making this guy the intellectual equivalent of a college freshman with some shortcomings in the area of critical thinking.

    We don’t really know how he makes his money. Most of the characters in his business engage in things like high frequency trading, where through computer manipulation they can shave a couple of cents out of the price variations of financial assets like stocks or commodities. When done at high speed, those cents turn into millions. Who benefits? Nobody except the traders, which is why the practice should be taxed out of existence (by putting a penny or two tax on each trade). In reality, it’s the traders who are the parasites. People who think they are John Galt are not the Steve Jobs of the world. They are the “moochers”.

  8. Pingback: Civilians Who Run Full-Page Ads In The New York Times (William Louis-Dreyfus Edition) | Campaign Outsider

  9. Pingback: Civilians Who Run Full-Page Ads In The New York Times (Norman Lizt Edition II) | Campaign Outsider

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