News / USA

US 'Patriotic Millionaires': 'Tax Us More'

Jeff Swicord
In Washington - a group calling themselves "Patriotic Millionaires," storming Capitol Hill with their message for the president and Congress: “tax us more, we can take it.”

“We have the fastest growing rate of inequality in the developed world," said one.

They are in line with President Obama, who has vowed to raise taxes on the wealthiest Americans as part of a budget deal needed to avoid the looming crisis.  The so-called "fiscal cliff" would force tax increases and deep budget cuts if there is no deal by December 31st.

“When it comes to the top two percent, what I am not going to do is extend a tax cut for folks who don’t need it.  That would cost close to a trillion dollars," said President Obama.

But House Speaker John Boehner has made it clear the wealthiest Americans should not see their taxes go up.

“I have outlined a framework for how both parties can work together to avert the fiscal cliff without raising tax rates," said Boehner.

The Patriotic Millionaires disagree with Speaker Boehner.  They take issue with the Republican Party’s argument that taxing wealthy job creators will lead to fewer jobs.  T.J. Zlotnitsky is CEO of iControl Systems, a data management company.

“When I make a decision about whether or not I am going to hire people to help grow my business I make those decisions strictly on the basis of whether the company needs them, whether the customers demand them, whether doing so will grow the business.  In terms of my own personal tax rates, that never factors in," he said.

The millionaires argue that over-burdening the middle-class with taxes to pay for the U.S. deficit would be far worse for the economy.

“It is especially important about the middle class.  If you lose the middle class, you are losing customers.  So a strong middle class that is helped by a fair tax system leads long-term to a healthy economy," said Frank Patitucci, CEO of NuCompass Mobility..

'Patriotic Millionaires' has more than 200 members across the United States, who work in the fields of finance, entertainment, and technology.

You May Like

Video Afghan Refugees Complain of Harassment in Pakistan

Afghan officials and human rights organizations assert that Pakistani authorities are using deadly attack at school in Peshawar as pretext to push out Afghan refugees More

At Boston Bombing Hearing, Sides Spar Over Boat

At final pre-trial hearing, lawyers for suspect Dzhokhar Tsarnaev, prosecutors disagree on whether vessel where he hid from police can be shown to jurors More

Iran Judiciary 'Picks' Lawyer for Detained WP Reporter

Masoud Shafii has been attempting to secure official recognition as Rezaian’s attorney, but is not allowed to see his client in prison More

This forum has been closed.
Comment Sorting
Comments
     
by: derek
November 23, 2012 6:55 PM
How nice of those millionaires. Although, that's not really going to do much in the long run. Taxing rich people more just because there is a widening gap in income? Maybe they should look at why there is an income gap, and not just look at taxing those who already pay most of the taxes to pay more.

Trying to cure the symptom and not the disease.
In Response

by: Anonymous
December 05, 2012 11:06 PM
There is a huge gap in income because that is how capitalism works. The rich strive to get richer by employing the poorer to earn more money for the rich. Socialism works to limit this, but few societies can get it just right. And good luck getting that message across to Americans.

by: mhey from: Philippines
November 21, 2012 5:51 AM
Wow! I salute for these people who volunteer to have higher tax, MABUHAY kayo.In Philippines the BIR are following after Pacquiao how about Lucio Tan who owns the PAL?

by: trussell from: USA
November 18, 2012 12:21 PM
These are true patriots. They want the USA to do well, unlike the Americans that hide their money overseas to avoid taxes. That is pure greed.
In Response

by: derek
November 23, 2012 6:57 PM
They can send me money anytime. I'll spend it in a more secure and public-benefitting way than the federal government will by taxation, which is the worst method of spillover control possible. If you don't know what i mean, it's because you don't know what this article is about.

by: Dave R from: New York
November 17, 2012 7:36 PM
This CEO of iControl Systems is obviously lacking some basic business education. You shouldn't be hiring people to "grow" your business unless the marginal cost of hiring that new worker is less than the marginal benefit you can expect to receive. In other words, it is quite easy to add employees and add revenue, but the goal of any business is to increase EARNINGS. "Growing" revenues without growing earnings is a waste of a firm's money - it will drive down the firm's return on equity, and once a firm's return on equity drops below the firm's cost of capital, you are losing money, not earning it. And personal tax rates are a HUGE factor for all small business owners who file under the personal tax code (e.g., most LLC's and S Corps do this). To claim otherwise is nonsensical and demonstrates a complete lack of basic economic common sense.

by: Abdulla from: Malaysia
November 15, 2012 11:06 PM
Really it's clear to every one that defending millionaires to their wealthy is the aim to increase their income and create small number of jobs, but the governments issue towards tax increase is quite good for all, because the government can support small business and create more new jobs to the market. however it's your time to share with the government to lift the income of the middle class and bring new jobs to the market.

by: John from: Colorado
November 15, 2012 6:23 PM
Kudos across the board to all members of the 'Patriotic Millionaires' as noted by a review of your boigraphy data. Granted the 30-40 percent cuts in your taxes will be felt with minimum effect; yet again the right thing is being demonstrated and only would have that the rest of the country stand up and do what is right.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
US Supreme Court Hears Hijab Discrimination Casei
X
Katherine Gypson
February 25, 2015 11:30 PM
The U.S. Supreme Court has heard opening arguments in a workplace religious discrimination case that examines whether a clothing store can refuse to hire a young woman for wearing the headscarf she says is a symbol of her Muslim faith. Katherine Gypson reports from the Supreme Court.
Video

Video US Supreme Court Hears Hijab Discrimination Case

The U.S. Supreme Court has heard opening arguments in a workplace religious discrimination case that examines whether a clothing store can refuse to hire a young woman for wearing the headscarf she says is a symbol of her Muslim faith. Katherine Gypson reports from the Supreme Court.
Video

Video Falling Gas Prices Hurt Nascent Illinois Hydraulic Fracturing Industry

Falling oil prices are helping consumers purchase cheaper petroleum at the pump. But that’s made hydraulic fracturing or “fracking” less economically viable for the companies in the United States invested in the process. VOA’s Kane Farabaugh reports on one Midwestern town that was hoping to change its fortunes by cashing in on the next big U.S. oil boom.
Video

Video Fighting in Sudan's South Kordofan Fuels Mass Displacement

Heavy fighting in Sudan's South Kordofan state is causing hundreds of thousands to flee into uncertain conditions. Local aid organizations estimate as many as 400,000 civilians have been internally displaced since the conflict began more than three years ago, while another 250,000 have fled across the border to refugee camps in South Sudan. VOA's Adam Bailes reports.
Video

Video Lao Dam Project Runs Into Opposition

A Lao dam project on a section of the Mekong River is drawing opposition from local fishermen, international environmental groups and neighboring countries. VOA's Say Mony visited the region to investigate the concerns. Colin Lovett narrates.
Video

Video A Filmmaker Discovers Her Biracial Identity in "Little White Lie

Lacey Schwartz grew up in an upper middle-class Jewish family, in a town in upstate New York where almost everyone she knew was white. She assumed that she was, as well. Her recent documentary, Little White Lie, tells the story of how she uncovered the secret of her true racial background. VOA’s Carolyn Weaver has more on the film.
Video

Video Deep Under Antarctic Ice Sheet, Life!

With the end of summer in the Southern hemisphere, the Antarctic research season is over. Scientists from Northern Illinois University are back in their laboratory after a 3-month expedition on the Ross Ice Shelf, the world’s largest floating ice sheet. As VOA’s Rosanne Skirble reports, they hope to find clues to explain the dynamics of the rapidly melting ice and its impact on sea level rise.
Video

Video US-Cuba Normalization Talks Resume Friday

Negotiations aimed at normalizing diplomatic relations between the U.S. and Cuba resume Friday. On the table: lifting a half-century trade embargo and easing banking and travel restrictions. There's opposition in Congress, but some analysts say there may be sufficient political and economic incentives in both nations for a potential breakthrough this year. VOA's Mil Arcega reports.
Video

Video Pakistan's Deadline For SIM Registration Has Cellphone Users Scrambling

Pakistani cell phone users have until midnight Thursday to register their SIM cards, or their service will be cut off. While some privacy experts worry about government intrusion, many Pakistanis are just worried about keeping their phone lines open. VOA Deewa reporter Arshad Muhmand has more from Peshawar.
Video

Video Myanmar Warns Factory Workers to End Strikes

Outside Myanmar's main city Yangon, thousands of workers walked off their jobs earlier this month demanding a doubling of their wages, pay raises after a year and input from labor unions on industrial regulations. Since Friday, the standoff has grown more tense as police moved in to disrupt the sit-ins, resulting in clashes that injured people from both sides. VOA correspondent Steve Herman visited industrial zones which have become a focus of Myanmar's fledgling workers rights movement.
Video

Video Oscar Winners Do More Than Thank the Academy

The Academy Awards presentation is Hollywood’s night to reward the best movies from the previous year. It’s typically a lot of glitter, a lot of thank you’s, a lot of speeches. But many of this year’s speeches carried messages beyond the thank you's. VOA’s Carolyn Presutti takes a look.

All About America

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More