southernhybrid
Contributor
https://www.nytimes.com/2019/02/12/nyregion/millionaires-tax.html
There is a group of about 200 very wealthy people that want to pay higher taxes. I remember when Warren Buffet used to say that his taxes should be much higher than they are, but this is the first time I've seen something that could become a movement of very wealthy people who realize they don't mind paying a lot more taxes as they would still be able to live very lavish lifestyles.
I do think there should be higher taxes on income over a certain amount. I'm wondering if more very wealthy people would agree that their taxes should be higher, if this would make it more acceptable to lawmakers to raise taxes on the upper percent.
So far, the governor doesn't like the idea, as he fears it will make more wealthy people leave New York, but having grown up just outside of that city, I know how damn much New Yorkers love that city and I doubt having to pay higher taxes will result in very wealthy people leaving. Regardless, I like the idea of those at the top trying to lead the way for people like them to pay more in taxes. The man leading the movement claims that he could easily move to a low tax state, but he loves New York. While, I assumed his is primarily about state and local taxes, it certainly could include federal taxes as well. I think this is a good idea and I hope those leading this movement will be able to get more in their class to join them.
A millionaire walks into the State Capitol and says, “Raise my taxes.”
Please.
This was no joke: The millionaire was Morris Pearl, a former BlackRock executive who is the chairman of Patriotic Millionaires, a group dedicated to pushing for higher taxes on businesses and the ultrarich.
Testifying on Tuesday at a state budget hearing, Mr. Pearl asked a bipartisan group of about half a dozen legislators to create a new “multimillionaire’s tax” on households earning more than $5 million a year in order to fund new affordable housing, infrastructure and schools.
“I’m a person of some means. I could live wherever I want,” said Mr. Pearl, a former managing director at BlackRock. “I could live in Kansas, if I wanted to live in a state with low taxes and low services. But I don’t.”
There is a group of about 200 very wealthy people that want to pay higher taxes. I remember when Warren Buffet used to say that his taxes should be much higher than they are, but this is the first time I've seen something that could become a movement of very wealthy people who realize they don't mind paying a lot more taxes as they would still be able to live very lavish lifestyles.
I do think there should be higher taxes on income over a certain amount. I'm wondering if more very wealthy people would agree that their taxes should be higher, if this would make it more acceptable to lawmakers to raise taxes on the upper percent.
So far, the governor doesn't like the idea, as he fears it will make more wealthy people leave New York, but having grown up just outside of that city, I know how damn much New Yorkers love that city and I doubt having to pay higher taxes will result in very wealthy people leaving. Regardless, I like the idea of those at the top trying to lead the way for people like them to pay more in taxes. The man leading the movement claims that he could easily move to a low tax state, but he loves New York. While, I assumed his is primarily about state and local taxes, it certainly could include federal taxes as well. I think this is a good idea and I hope those leading this movement will be able to get more in their class to join them.