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Raise Taxes to Fix the Wealth Gap, Millionaires Say
NBC News ^ | 05/06/2014 | Robert Frank

Posted on 05/06/2014 10:08:55 AM PDT by SeekAndFind

In the heated debate over inequality, the wealthy are usually portrayed as the cause rather than the solution.

But CNBC's first-ever Millionaire Survey reveals that 51 percent of American millionaires believe inequality is a "major problem" for the U.S., and nearly two-thirds support higher taxes on the wealthy and a higher minimum wage as ways to narrow the wealth gap.

The findings show that—far from being a purely self-interested voting bloc—American millionaires have complicated views when it comes to the wealth gap and opportunity in America. They are unashamed of their own wealth and attribute their success to hard work, smart investing and savings. They also believe that anyone in America can get wealthy if they work hard.

Yet millionaires also believe that cultural and family issues prevent many Americans from climbing the wealth ladder. They advocate improved education, higher taxes on the wealthy and better savings incentives for the poor and middle class as important changes that would reduce inequality.

The CNBC Millionaire Survey polled more than 500 people with investable assets of $1 million or more, which represents the top 8 percent of American households. The respondents came from around the country and were split between Democrats, Republicans and Independents.

(Excerpt) Read more at nbcnews.com ...


TOPICS: Constitution/Conservatism; Culture/Society; Government; News/Current Events
KEYWORDS: cronycapitalists; demmillionaires; gopmillionaires; income; inequality; millionaires; socialism

1 posted on 05/06/2014 10:08:56 AM PDT by SeekAndFind
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To: SeekAndFind

uh...that’s been tried over and over during Obama’s tenure...and the gap is getting worse.


2 posted on 05/06/2014 10:11:17 AM PDT by BookmanTheJanitor
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To: SeekAndFind
"Wealth" is money that you didn't spend.

Doesn't matter how much money you give to people who spend every cent they get their hands on, they will never have "wealth."

3 posted on 05/06/2014 10:11:33 AM PDT by E. Pluribus Unum ("The more numerous the laws, the more corrupt the government." --Tacitus)
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To: SeekAndFind

The Treasury Department’s open and takin’ checks every day, fellas.


4 posted on 05/06/2014 10:12:26 AM PDT by untenured
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To: SeekAndFind
NBS News, that's a credible source. /s

5 posted on 05/06/2014 10:12:45 AM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: SeekAndFind

Someone send these “millionaires” the Treasury Dept’s address and let them know they are free to give as much as extra they would like, no one is stopping them.


6 posted on 05/06/2014 10:13:15 AM PDT by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: SeekAndFind

That will work.
The millionaires will become poor and the gap will disappear.......................


7 posted on 05/06/2014 10:13:50 AM PDT by Red Badger (Soon there will be another American Civil War. Will make the first one seem like a Tea Party........)
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To: SeekAndFind

What’s really annoying about this is that anyone (not just millionaires) can raise their taxes unilaterally. And not just by making an additional contribution above and beyond what they owe. They can put their money where the mouth is and not take any deductions, credits, etc. to lower their tax rate.

These people should start a pledge to not take any deductions or credits going forward. I won’t hold my breath waiting for that to happen.


8 posted on 05/06/2014 10:14:28 AM PDT by AMitchum
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To: SeekAndFind

Since when did all these damn millionaires become Marxists?


9 posted on 05/06/2014 10:14:33 AM PDT by Marathoner (What are we waiting for? Where are the Articles of Impeachment?)
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To: SeekAndFind

Whenever a story like this pops up I remind my liberal friends that it is not against the law to liquidate their assets and forward them to the Treasury Department anonymously.


10 posted on 05/06/2014 10:14:38 AM PDT by Cyman (We have to pass it to see what's in it= definition of stool sample)
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To: Ghost of SVR4

Seriously. If they are so guilty over their wealth, give it to me for hell’s sake. I won’t shed a tear about it. Otherwise, have them give it all to the Treasury Dept. and stop bitching.


11 posted on 05/06/2014 10:14:41 AM PDT by rjsimmon (The Tree of Liberty Thirsts)
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To: SeekAndFind

If ALL the wealth in the world was evenly distributed within one generation it would all be back the way it was before. Most people have NO CONCEPT of what to do with money other than spend it.


12 posted on 05/06/2014 10:15:34 AM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: untenured

They talk their line of BS but talk is cheap!!!! The US Treasury will accept checks from them to make up the “gap” they perceive

BOTTOM LINE-— These frauds talk big about paying more taxes to get more social acceptance with others. Could be their wife making them do this. Who cares...they are lairs. Par for the course for libs


13 posted on 05/06/2014 10:16:17 AM PDT by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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To: Marathoner

When they became beneficiaries of corporate trusts.


14 posted on 05/06/2014 10:17:13 AM PDT by Justa
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To: SeekAndFind

Telling highly productive (wealthy) people to stop being so productive for their fellow humans (by increasing their taxes) is ultimately stupid.


15 posted on 05/06/2014 10:17:36 AM PDT by Uncle Miltie (Mohammed was a Child Rapist and Islam is a Totalitarian Death Cult.)
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To: SeekAndFind

Did you ask them if they’d consider just writing million dollar checks to 500 random strangers? Well, did ya?


16 posted on 05/06/2014 10:18:43 AM PDT by Buckeye McFrog
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To: SeekAndFind

I doubt the taxing wealth will narrow the gap - giving it to most poor people will result in getting it back in some form or another within a short time - it would just complicate the wealth game.


17 posted on 05/06/2014 10:21:25 AM PDT by relentlessly
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To: SeekAndFind
One the one hand ...

They (the wealthy) believe that anyone in America can get wealthy if they work hard.

And yet ...

... millionaires also believe that cultural and family issues prevent many Americans from climbing the wealth ladder.

The conclusion ... the wealthy cannot put together non-contradictory assertions.

18 posted on 05/06/2014 10:23:25 AM PDT by dartuser
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To: SeekAndFind

I think we need to chop off the legs of tall people below the knees to fix the height gap.


19 posted on 05/06/2014 10:24:16 AM PDT by TheThirdRuffian (RINOS like Romney, McCain, Christie are sure losers. No more!)
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To: SeekAndFind
The CNBC Millionaire Survey polled more than 500 people with investable assets of $1 million or more, which represents the top 8 percent of American households.

1M of investable assets is nothing. Our family has that, after a lifetime of setting aside as much as we could afford. And, it's still not enough to maintain a middle-class living in the face of taxes and inflation, for 20-30 years of retirement. If we had been able to invest our Social Security taxes -- even just in long-term government bonds -- we would have doubled our investable assets.

But, we don't own a business, and I doubt many of those sampled in this poll own a business. Otherwise, they wouldn't be advocating an increase in the minimum wages.

However, if they don't believe they are paying enough taxes, there's a simple solution: you can write a check to the government. More likely, they believe that they can evade any increase in taxes "on everyone else".

20 posted on 05/06/2014 10:30:24 AM PDT by justlurking (tagline removed, as demanded by Admin Moderator)
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To: SeekAndFind

Tell them we want a wealth tax instead of an income tax and see how quick these millionaires change their tune. These A-holes made it to the top and now want to make sure no one else can earn his way up.


21 posted on 05/06/2014 10:33:01 AM PDT by RightOnTheBorder
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To: SeekAndFind

How about a wealth tax instead of an income tax?

95% of wealth exceeding 10 million US dollars is taken?


22 posted on 05/06/2014 10:34:02 AM PDT by Principled (Obama: Unblemished by success.)
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To: RightOnTheBorder

Amen brother


23 posted on 05/06/2014 10:34:36 AM PDT by Principled (Obama: Unblemished by success.)
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To: SeekAndFind

So, half the rich sampled have things to do with their wealth, and the other half lack imagination?


24 posted on 05/06/2014 10:41:34 AM PDT by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
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To: SeekAndFind

surveyed: “investable assets of $1 million or more”

These jerks do not understand the difference between income and wealth. Wealth is capital, income is a means to accumulate wealth. When you target income, you disarm anyone attempting to gather wealth, nothing more.

Yeah, If I were sitting on a few hundred million, I’d have no problem with the income taxes on the upper income earners going up to 99%, as long as I was out of the salary stream.


25 posted on 05/06/2014 10:53:02 AM PDT by Mouton (The insurrection laws perpetuate what we have for a government now.)
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To: SeekAndFind

Yes, inequality IS a big problem here. Social unrest and possibly chaos could be the result. Plenty of historical examples point to this.

The way to address this problem is, and always has been, to employ the free market in all areas of our lives. I mean the really free market. Devoid of onerous regulation, multitudes of senseless laws, and the hostile legal environment.

Strictly adhering to the letter and spirit of the Constitution would be a great start.


26 posted on 05/06/2014 10:56:05 AM PDT by Paulie (Buy local, bank local, exert your influence locally; the left will fold like a cheap suit.)
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To: Paulie

Under a free market system,
all those who might “riot” because of inequality
are too lazy to get off their butts and do so.


27 posted on 05/06/2014 10:59:27 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: SeekAndFind

this is NBC, so this is a poll of Marxists who live in NY and maybe kalifornica. has no meaning or credibility.


28 posted on 05/06/2014 11:02:43 AM PDT by rigelkentaurus
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To: RightOnTheBorder; Principled

We have a winner! Too bad so-called journalists are too clueless to ask this question. Hey, how about a wealth tax instead of an income tax? Watch them back away from that.

Income taxes keep the aspiring upper middle class riff-raff out of their neighborhoods. Calling for higher taxes makes the rich elite feel good about themselves and fool the ignorant who think these jerks really care about the poor.


29 posted on 05/06/2014 11:38:37 AM PDT by Pining_4_TX (All those who were appointed to eternal life believed. Acts 13:48)
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To: Marathoner
Since when did all these damn millionaires become Marxists?

They think they are too smart and powerful to get caught. A certain part of the French aristocracy had the same mistaken belief.

30 posted on 05/06/2014 12:07:10 PM PDT by Myrddin
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To: SeekAndFind
The following is a look at the activities of influential political folks today.

Leviathan (Uncle Sam employs more people than you think)
National Review ^ | 02/03/2011 | Iain Murray
"...nearly 40 million Americans employed in some way by government."

About "70 million" people are receiving good incomes but are also steeped in debt and can't borrow more for big ticket items. Meanwhile,...

Heavy Hitters: Top All-Time Donors, 1989-2014
http://www.opensecrets.org/orgs/list.php

American Fedn of State, County & Municipal Employees $60,949,129 [Democrat] 81% [Republican] 1%”

This is a look at Americans not so influential in politics.

More Than 101 Million Working Age Americans Do Not Have A Job
http://www.freerepublic.com/focus/f-bloggers/3005481/posts


31 posted on 05/06/2014 12:18:50 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: SeekAndFind

No pay, no vote.


32 posted on 05/06/2014 1:51:44 PM PDT by VRWC For Truth (Roberts has perverted the Constitution)
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To: SeekAndFind

why even raise taxes then? just have the millionaires who feel they have too much money give it all up. Problem solved.


33 posted on 05/06/2014 11:21:11 PM PDT by blueplum
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To: SeekAndFind

Fortunately, the wannabes outnumber the already-got-its yearning for social acceptance.


34 posted on 05/06/2014 11:23:47 PM PDT by cynwoody
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