Millionaires Ask For Higher Taxes

A few months ago, Warren Buffett wrote a column saying that the rich should be taxed more. He thought it was wrong that many of the rich pay a smaller percentage of their income in taxes than do many middle class workers (especially true of the rich who make most of their income off of capital gains -- taxed at only 15%).

But Buffett is not the only one of the rich who believe they should pay higher taxes than those who make far less money. A group of millionaires have formed themselves into an organization called Patriotic Millionaires For Fiscal Strength, and this week a couple of dozen of them went to Washington to lobby Congress for higher taxes on everyone who makes at least a million dollars a year in income. They believe it's only fair that those who make the most should pay the highest rate of taxes. Here's what some of them said:


Doug Edwards -- "We want to pay more taxes. If you're fortunate, and you make more than a million dollars a year, you ought to pay more taxes."

Eric Schoenberg -- "If the Super Committee bill doesn't raise our taxes, we will ask out fellow citizens to consider killing the bill."

Farhad Ebrahimi -- "What we're all here today representing is to request the Bush tax cuts be allowed to expire -- that's simply the bare minimum."

They also ridiculed the Republican idea that raising taxes on the rich would slow down business growth. Garrett Gruener said, "Not once have any of my personal investment decisions been a function of marginal tax rates. We just don't think about it."

Now one would think that these millionaires who are patriotic enough to want to help the country out of this economic mess by paying more taxes would impress the members of Congress and spur them to action -- to raise taxes and increase government revenues. But the problem is that over half of the members of Congress are themselves millionaires, and this would mean they would be raising their own taxes -- and they are much more greedy and not nearly as patriotic as the members of Patriotic Millionaires For Fiscal Strength (PMFS).

Here is the letter the PMFS sent to Congress and the president last July, along with the signatures of the millionaires who sent it:

We are writing to urge you to put our country ahead of politics.

For the fiscal health of our nation and the well-being of our fellow citizens, we ask that you increase taxes on incomes over $1,000,000.

We make this request as loyal citizens who now or in the pastearned an income of $1,000,000 per year or more.

Our country faces a choice – we can pay our debts and build for the future, or we can shirk our financial responsibilities and cripple our nation’s potential.

Our country has been good to us. It provided a foundation through which we could succeed. Now, we want to do our part to keep that foundation strong so that others can succeed as we have.

Please do the right thing for our country. Raise our taxes.

Thank you,

EVELYN ALDRICH-WINTHROP
Rumson, NJ

MICHAEL ALEXANDEREl Macero, CA 

CYNDA COLLINS ARSENAULT
Superior, CO

JACOB B 
New York, NY

WD BAspen, CO

MICHAEL BARRBaltimore, MD 

HENRY BEANNew York, NY 

DICK BEATTIE
New York, NY

PAUL BEIRNE
New York, NY

LAWRENCE B. BENENSON*
New York, NY

DANIEL BERGER
Philadelphia, PA

D.A.
San Francisco, CA

N.A.
Dallas, TX

ROBERT S. BOWDITCH
Brookline, MA

BRADY BRIM-DEFOREST*
Los Angeles, CA

DAVID A. BROWN 
Berkeley, CA 

MARK BUELL 
San Francisco, CA

SUSIE BUELL
San Francisco, CA

DOUG CARLSTON 
San Rafael, CA

DAVID CHIANG
Las Vegas, NV

JEROME CLELANDSan Diego, CA 

TOM AND NOEL CONGDON 
Denver, CO

ROY CRAWFORDWhitesburg, KY

A DSacramento, CA

SCOTT DELMANNew York, NY 

DAVID DESJARDINS 
Burlingame, CA

ABIGAIL DISNEY 
New York, NY

BILL DONALDSONRedford, MI 

MARTA DRURYSan Francisco, CA

DOUG EDWARDSLos Altos, CA 

PAUL AND JOANNE EGERMAN*
Boston, MA

JAY EISENHOFERNew York, NY 

NIKO ELMALEH
New York, NY 

DAN F.Greenwich, CT 

EDIE FALCO 
New York, NY

RONALD FELDMAN
New York, NY

JERRY FIDDLERBerkeley, CA 

CHRISTOPHER FINDLATER
Naples, FL

CHARLIE FINK 
Washington, DC

JONATHAN FISHERSeattle, WA

RICHARD FOOS

ERIC FREDRICKSONLos Gatos, CA 

JOHN FULLERTONRye, NY 

RON GARRET, PHD 
Emerald Hills, CA

BILL GAWTHROPYorkville, CA

DREW GINSBURGDallas, TX

STEVEN GLUCKSTERNSan Francisco, CA 

DAVID GOLDSCHMIDT 
Princeton, NJ

JOSH GORDONLas Vegas, NV 

LINDA GOTTLIEB
New York, NY

GARRETT GRUENER* 
Oakland, CA 

JEFF GURALNew York, NY

NATHAN HADFIELD*
Provo, UT

BRUCE HELMERChanhassen, MN 

SUZANNE AND LAWRENCE HESS*
San Diego, CA

ARNOLD HIATTBoston, MA 

KENNY HILLMAN

LEO HINDERY, JR.
New York, NY

BILL JANEWAY
New York, NY

FRANK JERNIGAN* 
San Francisco, CA

MELISSA C. JOHNSEN* 
Kirkwood, MO

JOHN S. JOHNSON 
New York, NY

ROB JOHNSON 
New York, NY

WAYNE JORDANOakland, CA 

WILLIAM JURIKA 
Piedmont, CA

JOSEPH KAEMPFERMclean, VA 

AL KAHNNew York, NY 

JOEL KANTERVienna, VA

JOSH KANTER 
Sandy, UT

ROB S. KAPLANNew York, NY 

ROCHELLE KAPLAN 
Salt Lake City, UT

JANE KATCHER

JOHN KATZMAN
New York, NY

JOHN KORTENHAUS* 
Plano, TX

DAL LAMAGNAPoulsbo, WA

STEVE LARRSONFairfax, WA 

JOAN LEIBOVICHBoston, MA 

DAVID LEVINE* 
New York, NY

MARY & CHARLES LIEBMAN*
IL

DOUG L
New York, NY

ART LIPSON 
Salt Lake City, UT

EUGENE LONG 
Plymouth Meeting, PA

ALEXANDER MLos Altos, CA

MICHEL MARKSRed Bank, NJ

WIN MCCORMACKPortland, OR 

DOC MCCOYFort Worth, TX

GERALD MCHUGHPhiladelphia, PA 

TERENCE MEEHANNew York, NY 

DENNIS MEHIEL 
New York, NY

DIANE MEYER SIMONSanta Barbara, CA 

HERB MILLERWashington, DC 

VIBHU MITTAL 
Palo Alto, CA

KEN MORRISSan Francisco, CA 

STEVEN NAGOURNEYNew York, NY

SHEKAR NARASIMHANMclean, VA 

CHRIS NELSON 
Barrington, RI

KELLY NELSON

WENDY NEUNew York, NY 

PETER NORVIG*
Palo Alto, CA

LARRY NUSBAUMPhoenix, AZ 

FRANK PATITUCCI* 
Pleasanton, PA

RAKITA PAYNEVirginia Beach, VA 

MORRIS AND BARBARA PEARL
New York, NY

JUDY PIGGOT*
Seattle, WA

REBECCA PONTIKES*

CATHERINE RAPHAEL*

ANDY RAPPAPORTMENLO PARK, CA 

GREAT NECK RICHMANNEW YORK, NY 

NOURIEL ROUBINI
New York, NY

JONATHAN ROSE
New York, NY

MICHAEL SALAKODeSoto, TX 

GUY AND JEANINE SAPERSTEIN
Piedmont, CA

HEIKE SCHMITZ 
Palo Alto, CA

FRITZ SCHNEIDER* 
San Francisco, CA

DAVID SCHROEDERSSarasota, FL 

JAMES SEILERAlpine, NJ

SYBIL SHAINWALDNew York, NY 

ED SHUFRO

CRAIG SILVERSTEIN 
Mountain View, CA

MICHAEL STEINHARDT 
New York, NY

DAN STEVENSNaples, FL

SARAH STRANAHAN

SANDOR AND FAYE STRAUS
Lafayette, CA

SIMON STRAUSSNew York, NY 

PAT STRYKERFort Collins, CO 

MAUREEN TATEPhiladelphia, PA 

WHITNEY TILSONNew York, NY 

ANDREW TOBIAS
New York, NY

BETH UFFNERNew York, NY

SUSAN VAN DOLSENRye, NY 

PHILLIPE VILLERSConcord, MA

CHRISTY AND SCOTT WALLACEWashington, DC

ROSS WALLERLexington, VA 

DAVID WATSON 
Oakland, CA

ANGELA WBNew York, NY 

PETER WEINBERGER 
New York, NY

BERNARD AND CAROL WINOGRAD
New York, NY