Wealthy Americans sign letter asking Congress not to cut their taxes

Share

Liberal group Responsible Wealth led the effort, gaining signatures from the likes of Ben & Jerry's co-founders Ben Cohen and Jerry Greenfield, billionaire George Soros, philanthropist Steven Rockefeller, and fashion designer Eileen Fisher. They say the money that corporations and the rich save on their taxes would likely be used to start new companies or build new factories, the Post explained. The proposed tax cuts mainly benefit passive owners of stock and property and offspring whose main accomplishment is choosing the right parents.

Republican congressmen are hoping to get Trump's tax plan onto his desk to be signed by the end of the year, following a series of humiliating defeats in their bid to repeal and replace Obamacare.

"Authors of the letter even called on the Congress to raise the taxes for wealthy people to boost the country's budget".

I don't believe "populists" think it is more important to be able to prepare their taxes on a postcard if it means they are bumped into a higher, if compressed, tax bracket.

The proposal would also eliminate most individual tax deductions, a move that could result in some taxpayers seeing an increase in their total bill to the government while others see a decrease. Among Republicans, 26 percent think all Americans will benefit, followed by 16 percent who think the wealthy will benefit most, the poll found. "Doing so will help create jobs, strengthen the middle class, and ensure America's economic success".


■ 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.

■ Of the $1.5 trillion in tax cuts, $1 trillion will go to businesses and corporations, with only $200 billion going to individuals, most of whom will be upper middle class or wealthy.

The Democrats drew this analysis in an attempt to target the proposals of the House Republicans and portray them as a trick to lure the wealthier households.

The Reuters/Ipsos poll was conducted in early November online in English throughout the United States.

Share