4/20/2011
By Doug Cunningham
[Mazher Ali]: “To start taxing money made from money the same as money made from work is a commonsense measure that could generate significant revenue. And we think we should tax wealth like work.”
United For A Fair Economy’s Mahzer Ali. He says their Responsible Wealth campaign wants America to return to true progressive taxation as an alternative to huge budget cuts that hurt the most vulnerable. The Responsible Wealth campaign includes many upper income individuals who advocate higher taxes on investment income as an alternative to slash and burn budgets that shred the social safety net. Taxing wealth like work could generate more than $80 billion a year in federal revenue.
[Mazher Ali 2]: “The wealthiest people in this country are paying tax rates that are ultimately lower than most middle class families. Because of this special treatment of capital gains and dividends we’re losing $84 billion in revenue that could be used to avoid budget cuts. It could be used as federal aid to states so that we don’t have to put education and health care on the chopping block.”
There’s overwhelming public support nationally for taxing the rich more. A national McClatchy-Marist April poll found 64 percent of Americans want to raise taxes on people making more than $250,000 a year.
By Doug Cunningham
Mazher Ali: “To start taxing money made from money the same as money made from work is a commonsense measure that could generate significant revenue. And we think we should tax wealth like work.”
United For A Fair Economy’s Mahzer Ali. says the Responsible Wealth campaign wants America to return to true progressive taxation as an alternative to huge budget cuts that hurt the most vulnerable.
The Responsible Wealth campaign includes many upper income individuals who advocate higher taxes on investment income as an alternative to slash and burn budgets that shred the social safety net. Taxing wealth like work could generate more than $80 billion a year in federal revenue. Ali added:
The wealthiest people in this country are paying tax rates that are ultimately lower than most middle class families. Because of this special treatment of capital gains and dividends we’re losing $84 billion in revenue that could be used to avoid budget cuts. It could be used as federal aid to states so that we don’t have to put education and health care on the chopping block.
There’s overwhelming public support nationally for taxing the rich more. A national McClatchy-Marist April poll found 64 percent of Americans want to raise taxes on people making more than $250,000 a year.
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