Millionaires Urge Congress to Raise Their Taxes

Millionaires Urge Congress to Raise Their Taxes

Instead [of cutting taxes], we call on Congress to raise our taxes to bring in additional much-needed revenue and to restore investments to vital services. Though some promise that tax cuts will stimulate business activity and thereby increase tax collections enough to replace what is lost, most economists believe this is a pipe dream.

When the "populists" demanded Tax Fairness, they didn't mean that Congress should leave in all the loopholes, the tax-dodges and tricks that enable $2 trillion to be stashed in overseas tax havens, paying for tax cuts by stripping away the only deductions that enable working people to claw their way up the ladder of the American Dream.

They claim repealing the estate tax would cost $269 billion over 10 years.

According to Mark Mazur, Tax Policy Center, the bill would amount to a decent tax decline for the majority of the USA households.

Is the problem with American tax system that the wealthy and most profitable corporations pay too much tax, strangling economic development?

Tell Representative Walden that we want real bipartisan tax reform!

■ Four out of five dollars of the tax cuts will flow to the top 1 percent of the population, thus increasing the gap between those with unimaginable wealth and power and the rest of us.

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The Republican tax plan cuts taxes on average for people in multiple tax brackets, including the highest earners.

Despite an insistence by Republicans that their goal is help the middle class, only 8 percent of Americans think that demographic will benefit the most, the poll, which was conducted November 3-8, found.

Republicans are planning to pass the bill to vote already this week.

The Tax Foundation had released an earlier report that focuses on the growth advantages of the tax reforms and is hence given more weight by the Republicans.

Furthermore, they note that the Republican tax plan would disproportionately benefit the wealthy, while adding at least $1.5 trillion in tax cuts to the current national debt.

Republicans are in a frantic rush to pass their tax plan - just to be able to chalk up something, anything, after a year with total control of government.

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