On the News With Thom Hartmann: Millionaires in New York Want to Pay Higher Taxes, and More

In today’s On the News segment: Millionaires in New York want to pay higher taxes; our election process should be a national embarrassment; Los Angeles is standing up for the homeless; and more.

See more news and opinion from Thom Hartmann at Truthout here.

TRANSCRIPT:

Thom Hartmann here — on the best of the rest of Economic and Labor News…

You need to know this. Millionaires in New York want to pay higher taxes. In fact, 51 of those wealthy individuals felt so strongly about paying their fair share, they have signed on to a letter to Gov. Andrew Cuomo asking him to make their temporary high tax rates permanent. That group of millionaires includes names like Steven C. Rockefeller and Abigail Disney, and they want to help their state invest in things like infrastructure and programs that help those in poverty. Their letter was sent to New York lawmakers and the Governor last Monday, and it was published in full by major outlets like the Washington Post. These patriotic millionaires wrote, “In the spirit of shared sacrifice, we, the undersigned, call for a balanced solution that includes maintaining, expanding and making permanent the top marginal income tax rates for upper-income New Yorkers like us who can afford to pay more.” They explained that they understand that those who have benefited the most from the Empire State have a responsibility to help care for the society that provided their success. In addition to calling for a temporary “Millionaire’s Tax” to be made permanent, the letter’s authors also announced their support for the “1% Plan for New York Tax Fairness.” That’s the Fiscal Policy Institute’s proposal, which would raise state taxes on New York’s highest earners from 7.65 to 9.99 percent. They wrote, “We can well afford to pay our current taxes, and we can afford to pay even more. Our state needs to invest this revenue in our struggling schools, in anti-poverty measures and in infrastructure improvements.” They added, “Our state’s long-term economic…

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