Detroit Monster
Pamela Hilliard Owens
Yes, there are many really rich people in America who realize that they are rich BECAUSE of the uniquely American opportunities and the right thing to do is not--as a lot of rich and even not-so-rich Republicans want--to make themselves even richer at the expense of the middle class and the poor.
There is actually a group of people whose "Adjusted Gross Income" (such as it is) is OVER $1,000,000 annually and who WANT to be taxed accordingly. Their reason is simply that if rich people were taxed fairly, the deficit would be practically wiped out. Meanwhile, they would still be really, really rich.
The Patriotic Millionaires, as they call themselves, urged President Obama and Congress NOT to extend the Bush tax cuts last year; and after losing that effort, have now written a letter to the President, to Senate Majority Leader Harry Reid and to Speaker of the House John Boehner. In that letter, they are BEGGING to be taxed fairly; BEGGING to have their taxes RAISED.
Here is some interesting information from the group's website:
Only 375,000 Americans have incomes of over $1,000,000
Between 1979 and 2007, incomes for the wealthiest 1% of Americans rose by 281%
During the Great Depression, millionaires had a top marginal tax rate of 68%
In 1963, millionaires had a top marginal tax rate of 91%
In 1976, millionaires had a top marginal tax rate of 70%
Today, millionaires have a top marginal tax rate of 35%
Reducing the income tax on top earners is one of the most inefficient ways to grow the economy according to the non-partisan Congressional Budget Office
44% of Congress people are millionaires. The tax cuts were never meant to be permanent
Letting tax cuts for the top 2% expire as scheduled would pay down the debt by $700 billion over the next 10 years
While the greedy and heartless Republicans like Paul Ryan, Eric Cantor, Scott Walker, Rick Scott, et al, are doing everything possible to destroy the middle class and the social safety nets for the poor, there are rich people in America who are willing to stand by the true morals of our country and put their money where it can help EVERYONE.
