Among the wealthy, a new voice for fiscal sacrifice
By Katrina vanden Heuvel
Tuesday, November 30, 2010
President Obama's discussion Tuesday with leaders of both parties about the expiring Bush tax cuts comes at a time when a growing chorus of progressives and other reasonable-minded Americans have been ramping up pressure on the White House to allow the cuts for millionaires to end - as intended - at the end of the year. Last week that chorus was joined by a group of unlikely, albeit welcome new singers: the millionaires themselves.
In a November letter to President Obama, a group calling itself Patriotic Millionaires for Fiscal Strength argued that the wealthiest Americans do not need, and should not be given, an extension on tax cuts that have done next to nothing to improve broad economic prosperity. "We are writing to urge you to stand firm against those who would put politics ahead of their country," the letter's authors write. "Now, during our nation's moment of need, we are eager to do our fair share."
Signers include a number of early Google executives as well as leaders of companies such as Ben and Jerry's, Men's Wearhouse and Princeton Review. They aren't the first group of ultra-wealthy people to signal discomfort with senseless fiscal policy designed to benefit the top 2 percent. A group of 700 business leaders and individuals known as Responsible Wealth have called the Bush tax cuts "irresponsible" and "downright inexcusable." Bill Gates Sr. and Warren Buffet, of course, have also called for a change in priorities.
Read more at: http://www.washingtonpost.com/wp-dyn/con...pmopinions
By Katrina vanden Heuvel
Tuesday, November 30, 2010
President Obama's discussion Tuesday with leaders of both parties about the expiring Bush tax cuts comes at a time when a growing chorus of progressives and other reasonable-minded Americans have been ramping up pressure on the White House to allow the cuts for millionaires to end - as intended - at the end of the year. Last week that chorus was joined by a group of unlikely, albeit welcome new singers: the millionaires themselves.
In a November letter to President Obama, a group calling itself Patriotic Millionaires for Fiscal Strength argued that the wealthiest Americans do not need, and should not be given, an extension on tax cuts that have done next to nothing to improve broad economic prosperity. "We are writing to urge you to stand firm against those who would put politics ahead of their country," the letter's authors write. "Now, during our nation's moment of need, we are eager to do our fair share."
Signers include a number of early Google executives as well as leaders of companies such as Ben and Jerry's, Men's Wearhouse and Princeton Review. They aren't the first group of ultra-wealthy people to signal discomfort with senseless fiscal policy designed to benefit the top 2 percent. A group of 700 business leaders and individuals known as Responsible Wealth have called the Bush tax cuts "irresponsible" and "downright inexcusable." Bill Gates Sr. and Warren Buffet, of course, have also called for a change in priorities.
Read more at: http://www.washingtonpost.com/wp-dyn/con...pmopinions
