Former Tribune Co. Owner Sam Zell: ‘The 1 Percent Work Harder’ (Video)

Former Tribune Co. Owner Sam Zell: 'The 1 Percent Work Harder' (Video)

During an interview on Bloomberg Television’s “In the Loop” with Betty Liu, Zell exclaimed “The 1 percent work harder. The 1 percent are much bigger factors in all forms of our society.”

Former Tribune Company owner Sam Zell appeared on Bloomberg Television and stood up for controversial venture capitalist Tom Perkins, saying he agreed with a controversial op-ed he wrote in the Wall Street Journal that compared the criticism of the rich to the Nazi persecution of the Jews.

“I guess my feeling is that he’s right,” Zell said bluntly. “The quote '1 percent’ are being pummeled because it's politically convenient to do so.”

Also Read: Sam Zell: ‘I Just Don't Need to Be the Media's Bitch Anymore’

“The problem is that the world and this country should not talk about envy of the 1 percent, it should talk about emulating the 1 percent,” Zell explained. “The 1 percent work harder. The 1 percent are much bigger factors in all forms of our society.”

Also Read: Suing Sam Zell – Tribune Bankruptcy Gets Personal

“But Sam, tell that to the person who's on minimum wage, who's living below the poverty line, that they should try the emulate the 1%,” Liu interjected. ”How are they going to get there?!”

“The stories are rampant of people who started with a candy store and took it from there,” Zell countered. ”There are lots of people who have the ambition and have the motivation and have succeeded.”

Watch Zell's comments defending the rich below via Bloomberg Television:

  • How much is enough?

    This is why we need to have inheritance taxes on all estates. The moneyed classes should not be allowed to hold onto their wealth from generation to generation. We do not need to become a society that emulates the Lords and Serfs from the Middle Ages.

    Zell might have easily said, “Let them eat cake”. We know how that worked out for the French 1% in the 18th century.

    • ahrmann

      “But my daddy eaaaaaaaarrrrrrrrnnnnned this money!”

      • come on ahrmann

        Cheap demagoguery at its worst.

        Should a family farm (or nice country house) be taken from a family when the patriarch dies? Should a successful restaurant be taken from a family when the founder passes?

        If so, who gets it? If I start an organic pet food company (so that you liberals don't think I'm evil for being in business at all) that has 1000 stores around the world, when I die should I not be able to pass down that business to my daughter?

        If I shouldn't, who gets to run the business the day after I die? A government bureaucrat in the Department of Seized Estates takes over I suppose?

  • ahrmann

    Sitting on your doughy ass is harder than manual labor? I love when people double-down on stupid.

    • come on ahrmann

      Risk taking is MUCH harder than punching a clock, and is the way the whole society gets wealthier. If you don't know that, it's because you have never taken one.