American Morning

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August 16th, 2011
09:55 AM ET

Warren Buffett isn't the only millionare calling for tax increases

Warren Buffett, who called for Congress to raise taxes on the wealthiest Americans in an op-ed published in the New York Times yesterday, isn't the only mega-rich person asking to be taxed to help improve the economy.

In July, the organization Patriotic Millionaires wrote a letter to Congress urging them to raise taxes on Americans with incomes of over $1 million a year. Garrett Gruener, co-founder and director of Alta Partners, also wrote an op-ed, published in the Los Angeles Times, calling for lawmakers to let the Bush tax cuts to expire for the wealthiest Americans.

Gruener joins Christine Romans on American Morning today to explain why he thinks top earners should pay more and to respond to critics who claim that raising taxes will deter businesses from hiring.

Filed under: Budget • Taxes
soundoff (One Response)
  1. YL

    1] Forfeit 90% of Bush family assets to pay off part of the debts he created;

    2] Have those paying no estate & gift taxes during 2010 [another Bush's evil deed again] pay the back taxes, which amounts to $1.5 trllion [+/-]; &

    3] Have a 10% flat tax on those making $100K/yr [in addition to the regular income taxes] until the debts created by Bush are paid off.

    Then & only then the almighty USA does not have to kowtow to Red China, Free China [Taiwan], Japan & others for more loans, and Yankees can stand tall & walk straight again!

    August 17, 2011 at 12:59 am |