More than 400 millionaires and billionaires tell Republicans, don't cut our taxes - raise them!

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More than 400 millionaires and billionaires tell Republicans, don't cut our taxes - raise them!

Post by Ben Mothafuckin' Reilly on Mon Nov 13, 2017 7:33 am

More than 400 American millionaires and billionaires are sending a letter to Congress this week urging Republican lawmakers not to cut their taxes.

The wealthy Americans — including doctors, lawyers, entrepreneurs and chief executives — say the GOP is making a mistake by reducing taxes on the richest families at a time when the nation's debt is high and inequality is back at the worst level since the 1920s.

The letter calls on Congress not to pass any tax bill that “further exacerbates inequality” and adds to the debt. Instead of petitioning tax cuts for the wealthy, the letter tells Congress to raises taxes on rich people like them. It is being released publicly this week, as Republicans debate legislation that would add $1.5 trillion to the debt to pay for widespread tax cuts for businesses and individuals.

https://www.washingtonpost.com/news/wonk/wp/2017/11/12/more-than-400-millionaires-tell-congress-dont-cut-our-taxes/?utm_term=.95c0e0423b95

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Re: More than 400 millionaires and billionaires tell Republicans, don't cut our taxes - raise them!

Post by eddie on Mon Nov 13, 2017 4:16 pm

Wow. Some good humans in the world who, despite having more than enough, care enough for those who haven't enough.
Nice to see.

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Re: More than 400 millionaires and billionaires tell Republicans, don't cut our taxes - raise them!

Post by Original Quill on Mon Nov 13, 2017 4:35 pm

The Republicans want to cut taxes for the wealthy (same old 'trickle-down' theory) yet increase spending on the military, resulting in the already massive built-up debt left over from the Iraq War, climbing still higher.

However, hope is on the horizon.  Republicans also intend to penalize the middle and lower class by eliminating deductions for mortgage interest and state and local taxes, reintroducing the tax upon a tax.  In effect, Republicans want a redistribution of wealth from the poor/middle class, to the super rich.  (Does anyone wonder why Trump is in favor of it?  It's not just pussy he is grabbing!)

Trickle down doesn't even work; but if it did, we don't need any new jobs, we need higher wages.  We have 4.1% unemployment, but 6.1% unfilled jobs.  Even the Postal Service is advertising for jobs, fcs.

America is awash in capital, and they think adding more capital will help...studies show that more capital will only increase corporate buy-back programs, removing more and more wealth from the general population and placing it in the hands of the 1%.

This is the source of the concerns of enlightened wealthy people.  They wouldn't mind at all the extra cash, but they are thinking of the backlash when America realizes that the already unpopular distribution of wealth and property, is exacerbated by a tax cut that was sold as benefiting the middle/lower class.

Republicans are the party of the special interests.  Only Democrats are the party of the common interest.


Last edited by Original Quill on Mon Nov 13, 2017 4:47 pm; edited 2 times in total

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Re: More than 400 millionaires and billionaires tell Republicans, don't cut our taxes - raise them!

Post by eddie on Mon Nov 13, 2017 4:41 pm

Ah, thanks Quill. You just poured piss on my hopeful fire.

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Re: More than 400 millionaires and billionaires tell Republicans, don't cut our taxes - raise them!

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