"Raise Our Taxes!" Say Patriotic Millionaires As Super Committee Stalls
It's not hypocrisy for millionaires to support a progressive tax policy that eases the burden on the 99%--and increases theirs, fiscally speaking.
Instead, it's a statement of values: they'd rather see their country on track and their countrymen taken care of and not suffering than, say, build an extra wing on their house or buy a boat. And oh, they also recognize that stratification is bad for the economy.
That's not hypocrisy, it's rational. And that's why a group of moneyed "patriots" are going down to DC to do some lobbying that the right wing and the corporate media finds extremely counterintuitive:
Patriotic Millionaires for Fiscal Strength is sending 21 members to Washington to hopefully convince super committee senators and representatives that the rich need to pay higher taxes, the Los Angeles Times reports.
According to Erica Payne, a spokeswoman for the organization, the group wants taxes on millionaires to be raised to 39.6 percent from 35 percent -- at the very least.
Meanwhile, the Super Committee (you know, the bipartisan group tasked with the deficit, that thing everyone was fussing about before Occupy Wall Street happened) is "moving backwards" and the White House is bracing for failure.Democrats want a balanced package, including a combination of spending cuts and new tax revenue, along with measures to address the top Democratic priority: job creation.
Republicans want massive spending cuts, no investments in the economy, and tax cuts — which move the super-committee further from its goal, not closer.