Perkins: 1% Faces 'Extinction'

Like a modern-day Robin Hood but completely the opposite, Tom Perkins is continuing his fight over the plight of the 1 percent. Speaking at an event aptly titled “The War on the 1 percent,” Perkins, 82, reiterated earlier views he expressed about the wealthy in a letter to the editor of The Wall Street Journal. "I wouldn't say taxation is a form of persecution. But the extreme progressivism of the tax system is." His comments Friday were modest in comparison to his WSJ piece in which he compared taxation of the rich to the Nazis’ Kristallnach. Perkins has since apologized, but he is still fighting the good fight for the uber-rich. He said the one percent faces "an economic extinction,” though he did qualify it is “not a physical one.”