Over at Think Progress, the quote is:
Fleming responded by saying that while his businesses made $6.3 million last year, after you “pay 500 employees, you pay rent, you pay equipment, and food,” his profits “a mere fraction of that” — “by the time I feed my family, I have maybe $400,000 left over.”
You see that period at the end of their quote? It's not actually there if you listen to what he said.
What he actually said was:
"Yeah, that's before you pay 500 employees, you pay rent, you pay equipment and food. The actual net income of that was only a mere fraction of that amount....I would say that since my net income, and again, that's the individual rate that I told you about, the amount that I have to re-invest in my business, and feed my family is more like $600,000 of that $6.3 million, and so by the time I feed my family, I have maybe $400,000 left over to invest in new locations, upgrade my locations, buy more equipment, all of that."
He points out, "Class warfare has never created a job and that's people that will not get jobs...".
So after Fleming takes care of his family (house note, insurance, taxes, bills, car notes, etc.) he has $400,000 to re-invest in his business.
That's $400,000 to re-invest in new jobs by theoretically upgrading his locations, as he says, or buying new locations, hiring more people, upgrading equipment, paying health care costs that are soon to increase...well, $400,000 won't go terribly far.
And he's right. Obama's decision to raise taxes on the millionaires is a job killer.
I think Fleming's comments illustrate that perfectly.
Unless you're a liberal who interprets his remarks to mean that he walks around with $400,000 in his pocket and lights his cigars with $100 dollar bills.
(H/T: Memeorandum)
