Patt Morrison for November 16, 2011

Millionaires lobby deficit-reduction supercommittee to please, raise its taxes

Millionaires Hold DC News Conference Demanding Higher Taxes

Mark Wilson/Getty Images

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.

WEIGH IN:

Should we be increasing taxes on the wealthiest of Americans? Are there unintended consequences of raising taxes on the rich?

Guests:

Charlie Fink, millionaire with Patriotic Millionaires

Grover Norquist, president of Americans for Tax Reform


blog comments powered by Disqus