Wealthy Americans, Businesspeople Petition Congress for Higher Taxes
Thursday, September 16, 2021
SACRAMENTO, Calif. -- CARSON CITY, Nev. -- It is not every day people ask for higher taxes, but that's the gist of a letter just sent to Congress, signed by more than 200 wealthy taxpayers and business owners.
A coalition of progressive groups organized the public letter, which calls on lawmakers to raise taxes on rich people and corporations in order to fund the new infrastructure proposal, details of which were released this week.
Robert Bacon, an attorney from Oakland, said he signed the letter to encourage Congress to make some big investments.
"I'd be willing to pay more in taxes to increase the quality of public education and public transportation, to catch up with deferred maintenance of our public infrastructure," Bacon stated.
The letter asks Congress to reverse some 2017 Trump-era tax cuts by setting the top marginal tax rate back to where it was four years ago, at 39.6%. Supporters would also like to raise the corporate tax rate from 21% to 28%, close loopholes on estate taxes, and start taxing capital gains as ordinary income.
Sandra Fluke, president of the nonprofit Voices for Progress, said the money would help fund President Joe Biden's $3.5 trillion infrastructure package, known as Build Back Better.
"Child-care affordability, home- and community-based care, and paid leave, fighting climate change and protecting all of us from natural disasters are good investments," Fluke asserted. "Investments that will help to rebuild our economy and to strengthen our democracy."
The letter also calls on Congress to restore full funding to the IRS, which has lost one-third of its employees in enforcement roles in recent years, resulting in close to a 60% drop in the number of audits it performs.
get more stories like this via email
BALTIMORE, Md. -- Maryland civil rights groups are proposing a lawsuit against Baltimore County if it adopts its current redistricting plan, claiming …
LINCOLN, Neb. -- Nearly seven in ten Americans say billionaires are not paying their fair share in taxes, according to a new survey. Among likely …
BISMARCK, N.D. -- Over the coming weeks, North Dakotans will be clicking the "purchase" button as they order holiday gifts online, and fraud experts …
GREENE, Iowa -- The proposed Build Back Better bill is getting attention for a host of funding possibilities, including one area flying under the …
MADISON, Wis. -- In a four-three decision this week, the Wisconsin Supreme Court backed a "least-change" approach to redistricting in the state…
OXFORD TOWNSHIP, Mich. -- Michiganders are mourning the loss of four students after this week's school shooting at Oxford High School, and advocates …
WALNUT CREEK, Calif. -- Labor protests and strikes are on the upswing this fall, compared with 2020 when everyone hunkered as the pandemic closed …
CONCORD, N.H. -- With the holiday shopping season under way, experts are urging Granite Staters to watch out for scammers. A survey from AARP found …