In an act that would seem to defy political logic, the 1% is appealing to the White House to raise its taxes, and by a whole lot more than, well, 1%.
Business Insider reports
that a group of over 200 moneyed men and women dubbed "Patriotic Millionaires for Fiscal Strength
" met with White House officials and members of Congress earlier this month to plead their case for raising taxes on folks occupying their particular income bracket. They're calling for an increase of the inheritance tax and a limit to the deductions allowable by law, either by dollar amount or as a percentage of income, among other measures to usher in more government revenue.
's Lucas Kawa notes, these millionaires have a ready-made answer to critics who suggest they simply volunteer
their wealth to the federal government if they so desire. In short: "That's not the point."
"The Patriotic Millionaires' stance is that the tax debate is not a matter of personal virtue," writes Kawa, "but rather of societal choices."
Via Business Insider