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San Francisco Millionaires Join Scores of Rich People to Demand Higher Taxes on Wealthy
SF Weekly ^ | Wed., Dec. 12 2012 | Albert Samaha

Posted on 12/14/2012 11:50:33 AM PST by nickcarraway

There are a bunch of bargaining chips currently being passed back and forth between President Obama and House Speaker John Boehner as they seek to reach a budget deal before the county slides down the much-feared fiscal cliff.

Perhaps the most notable involved tax rates for the wealthy: Generally speaking, Democrats want to raise them; Republicans -- many of whom signed Grover Norquist's pledge to never raise taxes -- don't.

So even though more than 60 percent of Americans say they would support higher taxes on the rich, we remain at an impasse. Some of those 60 percent also happen to be part of the 1 percent. And, this week, nine San Francisco millionaires joined more than 200 rich people nationwide to demand that Congress raise their taxes by letting the Bush tax cuts expire for those making more than $1 million a year.

The San Francisco cohort includes Mark Buell, president of the Recreation and Park Commission and chair of the America's Cup Organizing Committee; his wife, Susie Buell; international philanthropist Marta Drury, retired Google software engineer Frank Jernigan; Google engineer Fritz Schneider; Chairman of Mortgage Resolution Partners Steven Gluckstern; real estate executive Ken Morris; housing developer John Stewart; and Marsha Rosenbaum, director emerita of the S.F. Drug Policy Alliance office.

Along with 39 other California millionaires, they joined the Patriotic Millionaires for Fiscal Strength, a national group of wealthy folks who have signed onto a letter asking the president to "Raise our taxes":

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. The easiest way to raise taxes on the rich -- or on anybody else -- is to allow the Bush-era tax cuts to expire. That's because back in July 2011, Norquist told the Washington Post that "Not continuing a tax cut is not technically a tax increase." Republicans who had handcuffed themselves to the pledge, internally anguishing over whether letting tax cuts expire technically breaks the vow, were ostensibly set free. And yet, more than a year later, it was still news when Rep. Tom Cole (R-Okla.) said of letting the cuts expire, "I don't see that as a violation of my pledge."

The tax cuts, passed during President George W. Bush's first term, lowered rates for everybody. For those in the highest tax bracket -- those making more than $250,000 annually -- rates dipped from 39.6 percent to around 36 percent. The Obama Administration has projected that reverting top earners' rates back to the Clinton era's 39.6 percent would bring in $678 billion in revenue through 2020. But in each of the last two years, Obama was unable to reach a deal with Congressional republicans that would raise taxes on the wealthy without raising taxes on everybody else too. So the full cuts were extended. They are once again set to expire at the end of this year.

In a statement yesterday, Californian millionaires who signed the "Raise our taxes" letter argued that "letting the Bush-era tax cuts expire for those earning the most will support vital infrastructure and social programs, grow the economy, and ultimately help the system that helps the wealthy."

TOPICS: Extended News; Government; Politics/Elections; US: California
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1 posted on 12/14/2012 11:50:36 AM PST by nickcarraway
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To: nickcarraway

Ever notice how the MSM brings up the tax pledge, and especially Norquist’s name, more than we do? I think they think it’s supposed to be embarrassing.

2 posted on 12/14/2012 11:53:30 AM PST by Tublecane
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To: nickcarraway

Ok, you folks go first!

What’s keeping you from stroking a bigger check on your own. After all, your dough will go to such grand programs that always work!

3 posted on 12/14/2012 11:56:29 AM PST by RexBeach (Mr. Obama Loves To Spend My $$$$$$$$$$$$)
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To: nickcarraway

Now that they’ve already acquired their wealth and probably have minimal income anyway.

4 posted on 12/14/2012 11:59:22 AM PST by FoxInSocks ("Hope is not a course of action." -- M. O'Neal, USMC)
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To: RexBeach

Funny, no one on the right is saying if the left wants to pay more in taxes, they could check off the box and put in the amount they want to send to the government.

This should be an ad.

5 posted on 12/14/2012 11:59:36 AM PST by EQAndyBuzz (You cant bring something to its knees that refuses to stand on its own)
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To: nickcarraway

I support every Obama voter, supporter, to pay a 75% Federal income tax. PUT YOUR MONEY WHERE YOUR MOUTH IS!

I would love Beck or Limbaugh to offer to host an event where wealthy Democrats and Liberal entertainers could come and write checks for One, Ten, One Hundred Million dollars payable to the Federal Government above and beyond what they pay in taxes.

6 posted on 12/14/2012 12:00:39 PM PST by LeonardFMason
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To: nickcarraway

Joke’s on them: Democrats, activists and occupiers don’t care what rich people think.

After all - rich people have too much pull in our society.

7 posted on 12/14/2012 12:06:01 PM PST by Tzimisce (What do you do when every every branch of the government is corrupt and aligned against you?)
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To: nickcarraway
You know what would be really neato? I'd like to see a reporter get the gross income, taxable income, and tax liability for all these millionaire and billionaires for 2012, and then a year from now, after taxes have gone up, do the same thing, and see how much more they're paying.

If you're not willing to do that, then your status as a "rich" person pushing for tax hikes should be highly questionable.
8 posted on 12/14/2012 12:10:05 PM PST by andyk (I have sworn...eternal hostility against every form of tyranny over the mind of man.)
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To: nickcarraway
Raising the taxes of these maggots means nothing. The billions they already have will not be touched. And I can guarantee that the current loopholes including the new ones they have will still protect much of their new earned wealth. This thing is do stupid and is just a do good-er feel good attempt to support King Obama and means very little.
9 posted on 12/14/2012 12:10:22 PM PST by Logical me
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To: nickcarraway

It is SO easy to call for higher income tax when...

1) you already got yours
2) you can now afford a tax attorney who can HIDE your “income”.. you wealth is safe.

10 posted on 12/14/2012 12:13:35 PM PST by SparkyBass
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To: nickcarraway
This is such a sad commentary. Why do "rich people" have to get taxed more because these bozos can't figure out how to contribute unless it is taken away from them?

What about philanthropy? What about donations to charities? What about voluntary contributions to the government?

11 posted on 12/14/2012 12:14:49 PM PST by pfflier
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To: nickcarraway

Well they’ve already enjoyed low tax rates enough to accumulate their pile of assets. Will they retroactively pay the higher tax rates for years past? Or is that just for people climbing up the ladder now.

12 posted on 12/14/2012 12:17:31 PM PST by Mr. Peabody
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To: nickcarraway
Make up Business cards with the Gift Contribution to the US government info and keep them in your wallet - anytime someone near you starts to crying that they should be taxed more, hand them a card . Fun AND educational!

front of the card:

How do I make a contribution to the U.S. government? Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called “Gifts to the United States.” Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government.

back of the business card:

Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below. Gifts to the United Stat