"Raise Our Taxes!" Say Patriotic Millionaires
Not everyone votes in his or her self-interest. A group of milionaires are asking Obama to let their (Bush-era) tax cuts expire, for the good of the country, Salon's Joe Conason reports. The signees include "hedge fund legend Michael Steinhardt, super trial lawyer Guy Saperstein, and Ben Cohen of Ben & Jerry's fame" In a letter, they explain their rationale:
For the fiscal health of our nation and the well-being of our fellow citizens, we ask that you allow tax cuts on incomes over $1,000,000 to expire at the end of this year as scheduled.
We make this request as loyal citizens who now or in the past earned an income of $1,000,000 per year or more.
We have done very well over the last several years. Now, during our nation's moment of need, we are eager to do our fair share. We don't need more tax cuts, and we understand that cutting our taxes will increase the deficit and the debt burden carried by other taxpayers. The country needs to meet its financial obligations in a just and responsible way.
As Conason notes, this important movement comes together just as it's been revealed that over half of our national legislators are millionaires themselves--and would thereby be rewarding themselves by extending those tax cuts.
Read the full story at Salon.