Millionaires’ group: Tax us, please
UPI, Oct. 3, 2011
The group, calling itself Patriotic Millionaires for Fiscal Strength, drew wide attention during the president’s visit to the area last week by contending that Americans with incomes over $1 million should shoulder a larger share of the tax burden, the San Francisco Chronicle reported.
Their statement came amid a contentious debate in Washington over whether raising taxes on America’s wealthiest taxpayers would stall investment in the economy.
Republicans who control the House prefer to characterize wealthy individuals as “job creators” who would simply reduce their investments in the country’s economy should they see their taxes increase.
But Oakland venture capitalist Garrett Gruener, founder of Ask.com and a member of the Patriotic Millionaires, said changes in the tax rates would make “zero difference” about where he would choose to invest.
“The kind of investing I’ve done for the last 25 years isn’t based on how a few points of the income tax rates change,” he said.
But “somehow, the Republicans have managed to convince 98 percent of the people that they are affected by how 2 percent of the population is taxed,” he said.