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Doug Edwards (C) is flanked by other millionaires while urging Congress to raise his taxes during a news conference on Capitol Hill on November 16, 2011 in Washington, DC.
A group of 21 millionaires spanning from Berkeley to Boston lobbied Congress today to increase taxes on the wealthiest Americans.
The group, Patriotic Millionaires for Fiscal Strength, includes Ben & Jerry’s Ice Cream founder Ben Cohen; actress Edie Falco; economist Nouriel Roubini; and Garrett Gruener, founder of Ask.com. Together, they’re asking the deficit reduction super committee to create a new tax bracket for households making over $1 million a year with a tax rate of 39.6%, an increase of 13%. After meeting with members of the super committee, the group headed to the offices of conservative anti-tax activist Grover Norquist to convince him of their proposal. Patt checks in with both parties about how the day went.
Should we be increasing taxes on the wealthiest of Americans? Are there unintended consequences of raising taxes on the rich?
Charlie Fink, millionaire with Patriotic Millionaires
Grover Norquist, president of Americans for Tax Reform