Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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
KEYWORDS:

1 posted on 12/14/2012 11:50:36 AM PST by nickcarraway
[ Post Reply | Private Reply | View Replies]

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
[ Post Reply | Private Reply | To 1 | View Replies]

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 $$$$$$$$$$$$)
[ Post Reply | Private Reply | To 1 | View Replies]

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)
[ Post Reply | Private Reply | To 1 | View Replies]

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)
[ Post Reply | Private Reply | To 3 | View Replies]

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
[ Post Reply | Private Reply | To 1 | View Replies]

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?)
[ Post Reply | Private Reply | To 1 | View Replies]

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.)
[ Post Reply | Private Reply | To 1 | View Replies]

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
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

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

1) you already got yours
and
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
[ Post Reply | Private Reply | To 1 | View Replies]

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
[ Post Reply | Private Reply | To 1 | View Replies]

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
[ Post Reply | Private Reply | To 1 | View Replies]

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 States U.S. Department of the Treasury Credit Accounting Branch 3700 East-West Highway, Room 622D Hyattsville, MD 20782

13 posted on 12/14/2012 12:20:38 PM PST by TurboZamboni (Looting the future to bribe the present)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

Feh. Its easy to call for higher payroll taxes on the ‘rich’ when you don’t receive a paycheck.


14 posted on 12/14/2012 12:23:57 PM PST by skeeter
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

No one will stop them from writing their own check to pay more.

Why does their guilt over not paying enough taxes apply to the rest of us?

Lunatics, disingenuous azzhats, and clueless brainwashed ideologues.


15 posted on 12/14/2012 12:29:50 PM PST by VRWC For Truth (Roberts has perverted the Constitution)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mr. Peabody

Maybe they don’t care about the term ‘rich’ so much as the concept of ‘achievement’ and ‘success’.

Of course you know we are all one mass of undifferentiated being... with NO distinctions whatsoever. No one should have more than the next guy-EVEN IF HE WORKS HARDER!! (sarc)


16 posted on 12/14/2012 12:29:59 PM PST by SMARTY ("The man who has no inner-life is a slave to his surroundings. "Henri Frederic Amiel)
[ Post Reply | Private Reply | To 12 | View Replies]

To: nickcarraway
San Francisco Millionaires Join Scores of Rich People to Demand Higher Taxes on Wealthy

Because THEY have loopholes. (Ain't nobody gonna touch their stash!) If they can get higher taxes on OTHER PEOPLE, the politicians will leave THEM alone.

Anyone who believes they should pay more in taxes can simply go to the IRS website and click on the "Donate" button. Problem solved. Everybody is happy.

17 posted on 12/14/2012 12:31:07 PM PST by concerned about politics ("Get thee behind me, Liberal")
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

As others have pointed out, just another bunch of millionaires who have already accumulated enough to last out their lifetimes. What nobody wants to address is the bogus use of $250,000 in income as excessive or “rich”. For years attempts have been made for the IRS to consider indexing. Try telling two income families in New York City or Washington, DC that they are rich because they make a combined income of $250,000, most of which is spent on housing, local taxes, and transportation. Hold to artificial definitions of rich like this and you further encourage people not to get married. Just another blow against the family and a civilized society.


18 posted on 12/14/2012 12:35:14 PM PST by Boomer One
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

Being a declared Conservative in San Fransqueersco will get you disinvited from all the society functions.


19 posted on 12/14/2012 12:44:51 PM PST by PGR88
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

It simply means that those particular wealthy folk would benefit somehow with the changes. Nothing more.


20 posted on 12/14/2012 12:45:34 PM PST by Teacher317 ('Tis time to fear when tyrants seem to kiss.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

The tax increases coming down will impact the middle class the hardest as they always do. The super rich can and will avoid them by.....

Investing in tax exempt municipal bonds andbond funds.

Setting up tax exempt foundations which they control.

Setting up trust funds for their heirs.

Investing in tax deferred retirement accounts.

Investing in real estate tax shelters.

Investing overseas.

Plus many other things all perfectly legal. It will be the middle class which will bear the huge brunt of the expiration of the GWB tax rates not to mention all of the many new taxes contained in Obamacare.


21 posted on 12/14/2012 12:47:52 PM PST by Trapped Behind Enemy Lines
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway
more than 200 rich people nationwide to demand that Congress raise their taxes

Taxes on the "rich", on businessmen and capitalists, are overwhelmingly borne by the wage earners in the form of a lower demand for labor and a lower productivity of labor, which latter is caused by a lower demand for capital goods relative to consumers' goods and reduced incentives to improve production. The truth is that wage earners always end up bearing the major burden of taxes. They bear the burden whether the taxes are levied on them directly or on the rich.

22 posted on 12/14/2012 1:26:00 PM PST by mjp ((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
[ Post Reply | Private Reply | To 1 | View Replies]

To: RexBeach
Heh, if a bunch of rich liberals want to be punished who am I to stand in their way? I am fine letting the ultra rich get soaked. Since most of them didn't lift a finger to try to advance conservative causes or run a candidate to stop Obama, to hell with them. (with the exception of the Koch brothers who at least tried, even though they backed the wrong horse). Why isn't it always us, the struggling working middle class carrying water for the rich, who don't do a damn thing to defend the constitution?
23 posted on 12/14/2012 1:27:04 PM PST by Sam Gamgee (May God have mercy upon my enemies, because I won't. - Patton)
[ Post Reply | Private Reply | To 3 | View Replies]

To: nickcarraway

“retired Google software engineer Frank Jernigan; Google engineer Fritz Schneider”

Yeah you guys made your mega millions off of Google which was sheltering income in Bermuda. Maybe if your employer paid its fair share of taxes in the past you would not be a millionaire today. Take your sanctimony and shove it.

Google’s tax avoidance is called ‘capitalism’, says chairman Eric Schmidt
Google chairman Eric Schmidt has insisted that he is “very proud” of the company’s tax structure, and said that measures to lower its payments were just “capitalism”.

Mr Schmidt’s comments risk inflaming the row over the amount of tax multinationals pay, after it emerged that Google funnelled $9.8 billion of revenues from international subsidiaries into Bermuda last year in order to halve its tax bill.


24 posted on 12/14/2012 1:30:11 PM PST by artichokegrower
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

I suspect this is fabrication.


25 posted on 12/14/2012 1:38:18 PM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway
San Francisco M Zillionaires Join Scores of Rich People to Demand Higher Taxes on Wealthy their Upstart Competition.

There, fixed it.

26 posted on 12/14/2012 1:48:22 PM PST by Carry_Okie (The Slave Party: advancing indenture since 1787.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

I think the old saying is charity begins at home. These folks should get their State and City in the black before they talk about raising federal taxes.


27 posted on 12/14/2012 1:53:43 PM PST by fatrat (extremely extreme right-wing radicalized veteran)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway
A three word sentence (eg. clown biden) WEALTH REDISTRIBUTION.

That is all this about.
28 posted on 12/14/2012 2:25:56 PM PST by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway
They don't want higher taxes on the wealthy. They want higher taxes on high-earners. The two are not necessarily the same.

Now, France has a wealth tax; not just an income tax. A true tax on wealth would have these people joining the Tea Party.

In the meantime, laissez les bon temps rouler!

29 posted on 12/14/2012 4:52:27 PM PST by BfloGuy (Workers and consumers are, of course, identical.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

Few if any of the Leftist a-holes who are yelling for higher tax rates would ever pay more taxes than they have to - they are just calling for higher taxes on others, not themselves.


30 posted on 12/14/2012 7:27:07 PM PST by Post Toasties (Leftists give insanity a bad name. 0bama: Eight years of failure and fingerpointing.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

These retards should just send in all of their wealth first, as an example.


31 posted on 12/14/2012 9:19:25 PM PST by Paladin2
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway
Give them what they ask for and be generous.

Obama is proposing raising taxes on the rich from 34% to 39%... make them feel like they are real GIVING Americans and kick that tax hike up to 50%. Then they can ALL send "thank you" cards to Obama.

32 posted on 12/15/2012 12:46:20 AM PST by VideoDoctor
[ Post Reply | Private Reply | To 1 | View Replies]

To: RexBeach
They are already rich and have trusts to protect their money from excessive taxation.
The only reason I can tell that they would say Tax the Rich is because they're gloating.

Even Obama said "rich like myself" in his pressers. It's gloating.

Rush said something many moons ago that stuck in my head,
"They don't want anybody else to become richer than they are after they get theirs".

33 posted on 12/15/2012 1:04:46 AM PST by MaxMax
[ Post Reply | Private Reply | To 3 | View Replies]

To: nickcarraway

Higher income taxes protect the entrenched wealthy interests that have market share in their respective fields. You name the industry it doesn’t matter. Internet. Textiles. Automotive supplies. Food Services. Household goods. Recorded Entertainment. Retail. All of these sectors already have mega-sized corporations that have massive market share. They were able to grow their companies because they could reinvest profits. And today the small guy has a hard time gaining market share.

By raising income taxes, the smaller companies will have a harder time competing, investing, growing. Do you think Levi Strauss will be hurt by high income taxes? No. But Widget Jean Company will be, because Widget Jeans is a small business trying to grow. The more Widget pays in taxes the harder it will be for it to compete with the big company. Levi already owns a lot of fabricating machines, warehouses, trucks, inventory etc. They can operate at breakeven and do just fine. Widget Jeans can’t operate at breakeven, not if it wants to grow. It needs profits year after year to invest in property, equipment, and other capital costs.

And that is one reason why these hotshots don’t mind advocating for higher taxes. They are already wealthy! You could tax their income at 100% it won’t matter because they are already super rich, they don’t need income. And besides they don’t depend on regular wage income to survive and thrive. They live on the assets they have already accumulated, they live on their savings and dividends and returns on investments which are taxed at a much lower rate, so they don’t care if their competitors get hurt by changing the code that benefited them. They aren’t the ones “giving back”. They are just advocating for others to give, which just so happens to protect themselves from competitors.

Now if they said “raise the capital gains rate to that of regular income” it would be another matter but they aren’t saying that. They are saying that those who work hard now should pay more to help protect their businesses from up and coming competition.


34 posted on 12/18/2012 7:28:40 PM PST by monkeyshine
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson