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Jewish Millionaires Tell Congress: Don't Cut Our Taxes!

15 November 2017, 01:55 | Devin Moran

Over 400 US Millionaires Urge US Congress to Avoid Cutting Taxes - Letter

Some Of America's Wealthiest Tell Congress To Raise Their Taxes, Not Cut Them

American millionaires and billionaires are banding together to urge Republicans in Congress to raise their taxes instead of cutting them.

We need responsible tax reform that simplifies the tax code, helps small businesses, closes loopholes for corporations and the wealthy, and strengthens progressive tax rates.

When the "populists" demanded Tax Fairness, they didn't mean that Congress should leave in all the loopholes, the tax-dodges and tricks that enable $2 trillion to be stashed in overseas tax havens, paying for tax cuts by stripping away the only deductions that enable working people to claw their way up the ladder of the American Dream.

According to Mark Mazur, Tax Policy Center, the bill would amount to a decent tax decline for the majority of the USA households.

Republican mega-donors are threatening to cut funding to the party if it fails to pass tax "reform".

The proposal would also eliminate most individual tax deductions, a move that could result in some taxpayers seeing an increase in their total bill to the government while others see a decrease.




Republicans and Democrats are divided on who they think tax reform would help the most.

The three wealthiest people in the US-Bill Gates, Jeff Bezos, and Warren Buffett-now own more wealth than the entire bottom half of the American population combined, 160 million people or 63 million households, according to a report by the Program on Inequality at the Institute for Policy Studies, reported in The Nation.

The poll found 79 percent think its more important to cut taxes for the middle class than for corporations, and 76 percent think its more important to cut taxes for the poor than for corporations.

And while those polled did not think that the middle class will benefit most, an overwhelming majority thought that they should.

But broadly speaking, both the Senate and the House versions of the GOP tax plan would primarily benefit the wealthiest earners and corporations, according to analyses by Vox and the Washington Post.

The Reuters/Ipsos poll was conducted in early November online in English throughout the United States.



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