'Patriotic Millionaires' Beg Supercommittee for Higher Taxes
gimmesometruth27
St. Fuckin Louis Posts: 23,303
i don't know how effective it will be, but it is a good sign...these are all businessmen who are for the most part self-made millionaires. i think they might have an idea what they are talking about...
'Patriotic Millionaires' Beg Supercommittee for Higher Taxes
http://news.yahoo.com/patriotic-million ... 20525.html
Two dozen wealthy members of the group Patriotic Millionaires for Fiscal Strength are targeting members of the deficit "supercommittee" to increase their taxes.
Entrepreneur and producer Charlie Fink, said he and other Patriotic Millionaires testified in a congressional hearing and visited the offices of 13 members of Congress on Wednesday, seven of whom are members of the supercommittee, to express their concern for the country's fiscal health.
Fink, who lives in Washington, D.C., said if the Bush tax cuts do not expire, the country "is digging itself a big hole by foregoing revenue."
"Without revenue, we will never solve the problem by giving tax cuts to the wealthy while supporting two foreign wars," Fink, a former AOL executive, said.
The group visited the offices of legislators in both parties, including Senators John Kyl, R-AZ, and Pat Toomey, R-Pa., and Reps. Nancy Pelosi, D-Calif., minority leader, Xavier Becerra, D-Calif., and Jim Clyburn, D-S.C., assistant democratic leader.
"It was a very refreshing conversation that restored my faith that there are people who, in spite of their financial successes, have not lost their compassion and sense of fair play," Rep. Clyburn told ABC News after meeting the group.
The supercommittee has stalled on how to trim over $1 trillion from the budget.
Democratic members of the group met on Wednesday for more than two hours.
Patriotic Millionaire Robert Johnson, former chief economist of the U.S Senate banking committee, said that the current economic system is not broken, but it is "working on behalf of those who designed it in their favor."
"America is no longer based on markets and capitalism, instead our economy is designed as 'socialism for the rich' – it is designed to ensure that the wealthiest people take all of the gains, while regular Americans cover any losses," he said at a press conference this afternoon in Washington, D.C.
"It's a Las Vegas economy where regular Americans put their money on the table and the richest 1 percent own the house," he said. "And if the 1 percent happen to lose money, the 99 percent bails them out – covers their losses and then stands by watching while the house does it all over again."
Last November, the Patriotic Millionaires launched with 45 signatories who sent a letter to President Obama asking him to allow the Bush-era tax cuts to expire at the end of last year. The petition was signed by the Grammy Award-nominated DJ, MOBY, as well as Jerry Cohen of Ben-and-Jerry's-Ice-Cream fame.
The Patriotic Millionaires for Fiscal Strength wrote a 155-word letter saying they hope their taxes will increase. Its text is posted at FiscalStrength.com.
The message of the group has remained the same.
"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," the group's website states. "We make this request as loyal citizens who now or in the past earned an income of $1,000,000 per year or more."
Other Patriotic Millionaires who participated on Wednesday were Lawrence Benenson, executive vice president of Benenson Capital Co., David desJardins, former Google software engineer, Guy Saperstein, civil rights attorney, and Eric Schoenberg, former managing director of Broadview International.
'Patriotic Millionaires' Beg Supercommittee for Higher Taxes
http://news.yahoo.com/patriotic-million ... 20525.html
Two dozen wealthy members of the group Patriotic Millionaires for Fiscal Strength are targeting members of the deficit "supercommittee" to increase their taxes.
Entrepreneur and producer Charlie Fink, said he and other Patriotic Millionaires testified in a congressional hearing and visited the offices of 13 members of Congress on Wednesday, seven of whom are members of the supercommittee, to express their concern for the country's fiscal health.
Fink, who lives in Washington, D.C., said if the Bush tax cuts do not expire, the country "is digging itself a big hole by foregoing revenue."
"Without revenue, we will never solve the problem by giving tax cuts to the wealthy while supporting two foreign wars," Fink, a former AOL executive, said.
The group visited the offices of legislators in both parties, including Senators John Kyl, R-AZ, and Pat Toomey, R-Pa., and Reps. Nancy Pelosi, D-Calif., minority leader, Xavier Becerra, D-Calif., and Jim Clyburn, D-S.C., assistant democratic leader.
"It was a very refreshing conversation that restored my faith that there are people who, in spite of their financial successes, have not lost their compassion and sense of fair play," Rep. Clyburn told ABC News after meeting the group.
The supercommittee has stalled on how to trim over $1 trillion from the budget.
Democratic members of the group met on Wednesday for more than two hours.
Patriotic Millionaire Robert Johnson, former chief economist of the U.S Senate banking committee, said that the current economic system is not broken, but it is "working on behalf of those who designed it in their favor."
"America is no longer based on markets and capitalism, instead our economy is designed as 'socialism for the rich' – it is designed to ensure that the wealthiest people take all of the gains, while regular Americans cover any losses," he said at a press conference this afternoon in Washington, D.C.
"It's a Las Vegas economy where regular Americans put their money on the table and the richest 1 percent own the house," he said. "And if the 1 percent happen to lose money, the 99 percent bails them out – covers their losses and then stands by watching while the house does it all over again."
Last November, the Patriotic Millionaires launched with 45 signatories who sent a letter to President Obama asking him to allow the Bush-era tax cuts to expire at the end of last year. The petition was signed by the Grammy Award-nominated DJ, MOBY, as well as Jerry Cohen of Ben-and-Jerry's-Ice-Cream fame.
The Patriotic Millionaires for Fiscal Strength wrote a 155-word letter saying they hope their taxes will increase. Its text is posted at FiscalStrength.com.
The message of the group has remained the same.
"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," the group's website states. "We make this request as loyal citizens who now or in the past earned an income of $1,000,000 per year or more."
Other Patriotic Millionaires who participated on Wednesday were Lawrence Benenson, executive vice president of Benenson Capital Co., David desJardins, former Google software engineer, Guy Saperstein, civil rights attorney, and Eric Schoenberg, former managing director of Broadview International.
"You can tell the greatness of a man by what makes him angry." - Lincoln
"Well, you tell him that I don't talk to suckas."
"Well, you tell him that I don't talk to suckas."
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I agree w/ this/. These millionaires don't get rich by giving it away, and unfortunately, they have the money to hire the accountants to ensure they pay less than people that make far less. The smart ones will pay themselves a salary of about $10, 000/year. The tax code is so complicated that the average American can't navigate/ manipulate it like these guys w/ forensic accountants. These loopholes need to be closed, IMO.
On a similar note I remember reading somewhere about how the super rich don't really care about how much money they have because after a certain point its just like a game to see who can have the highest numbers. One of them (it may have been Warren Buffett or Bill Gates) said,well ok, then lets start a contest to see who can give the most away and, apparently, that got a lot of big time giving started. Anyone else read about this? Am I remembering correctly?
By the way, gimme, nice avatar. Abbie Hoffamn wore that shirt well!
-Eddie Vedder, "Smile"
the ows people should embrace that flag, but to them it represents all that is wrong with america. the tea party took over the "don't tread on me" flag and i think it would be a big statement for the youth movement to take back the american flag and make that the symbol of their movement and make it represent the country they wish to have. that flag means different things to different people all over the world. old men in political offices, war hawks, and republicans do not have a monopoly on that flag.
could you imagine how pissed off people would be if all of the ows protesters waved the american flag at their protests?
"Well, you tell him that I don't talk to suckas."
-Eddie Vedder, "Smile"
"Well, you tell him that I don't talk to suckas."
Godfather.
It's right around 44:30 on "Imagine in Cornice."
-Eddie Vedder, "Smile"
http://dailycaller.com/2011/11/17/patri ... z1dzJONwaq
"Well, you tell him that I don't talk to suckas."
http://givingpledge.org/
I was reading one of those goofy e-mails about the deficit saying why do have a deficit and how do the gov. account for it ? I may sound a bit goofy myself bit it almost kinda made sense...
Godfather.
I love that pic too. And yeah, your last sentence should be a strategy the OWS movement should look into. A bunch of protesters using patriotism to their advantage. Like Abbie Hoffman.
We get the point. But, why not lead by example? Yes, many of them give to charities. So, why not give all that to the gov't to reduce the deficit?
I'll answer my own question - because they know the gov't will mis-use it. Thus, the reason to not raise taxes in the first place. They (think they) know places that will better use the money. Good for them.
So, their solution is make it compulsory. Well, why not keep your mouth shut (or keep talking, whatever) and just put the money into the til? Why do they have to wait until other Millionaires do it? Like gimme said - less of a deficit (in theory) is better than what's going on now (though we all know this money will just be spent and never really go to the deficit).
"Well, you tell him that I don't talk to suckas."
do you think it is specific to Obama, or they want democratic/liberal policies to fail?
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
Personally, I might not mind paying more taxes...IF..... Spending was first cut to a point where the extra taxes would make a difference. I am of the belief that at this moment in our history, all extra taxes is going to do is give the gov't more money to spend without reducing the deficit a penny. That is, is there any relation to taxes collected and monies spent today? So, why would we believe taking more money out of the economy will solve this problem?
So, to me - cut (significanlty) now, and then we can talk taxes. Otherwise, it's spitting in the wind.
Show responsibility, and then I'll trust you again. Is that so hard to understand/expect?
I don't think it's necessarily because they think the government will misuse it. I think it's because changing the system is a long-term solution but individuals making donations is just a temporary band-aid that doesn't actually solve the problem.
Either that, or they like the hear themselves speak. :roll:
Why can't there be both? Drastic cuts in wasteful spending along with increased tax revenue to pay down a ballooning deficit? It seems apparent that both a reduction in spending and an increase in tax revenue are needed to restore America to prosperity.
Because the gap is so huge and they always go back on agreements of cuts that until I see it, I won't believe it. But in the land of unicorns, you are absolutely right. I hope to see a unicorn some day.