A group of millionaires called “Patriotic Millionaires for Fiscal Strength” is demanding that Congress approve tax hikes on the wealthy. What do you think: Is this a message that will resonate in California as Gov. Brown crafts a new revenue package?
I suppose the millionaires in that group will be accused of engaging in class warfare.
Does it matter if it resonates here? Republicans are tone deaf. As long as they have a say, it’s Up With Millionaires, Down With Middle Class Kids – and everybody else.
The key in California is whether the “Patriotic Millionaires” can convince John & Ken to give permission to Republicans to support revenue increases.
Rich people with guilty consciences are laughable.
Time for the flat tax, no loopholes, no hidden breaks. Make the wealthy and the poor pay the same percentage. Of course, it’s unfair but it can’t be any worse than what we’ve got now.
It certainly won’t resonate under the Dome. If it came before the voters it might have a chance under the old saw, “Don’t tax you, don’t tax me, tax the guy behind the tree.” But then, there will be competing tax proposals on that November 2012 ballot!
The real question should be: “Does this resonate with Republican legislators?” and the answer is “no.” In California, Brown’s most-likely path is to go the initiative route, but what proposal raises enough money, is broadly popular and avoids a well-funded opponent? Also, what happens with the deficits for this fiscal year and the next before any vote on the November 2012 ballot?
Finally, even the wealthy get it: If the middle class goes down, so does the country. The middle class produces the trained work force, the educated employees that a good business needs. The rich who demand more and more concessions from the public treasury, who say they can’t survive without tax breaks, are eating their own young.
This is crazy. If they want to give more money to the federal government – they can go ahead and cut a check anytime they like.
Warren Buffet has been the best spokesperson for the “tax the wealthy” effort. However, while popular, it doesn’t produce enough revenue.
Maybe Brown should start by asking all of his buddies in the Hollywood movie industry to pay back all their state tax credits from the last few years.
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