Thursday, November 17, 2011

US millionaires ask Congress to 'Raise our taxes'

Nearly 140 millionaires asked a divided US Congress on Wednesday to increase their taxes for the sake of the nation.

"Please do the right thing," the entrepreneurs and business leaders wrote President Barack Obama and congressional leaders, noting that they benefited from a sound economy and now want others to do so. "Raise our taxes."

The letter was signed by 138 members of "Patriotic Millionaires for Fiscal Strength." The group was created a year ago during a failed bid to persuade Congress to end tax cuts for millionaires enacted under Republican former President George W. Bush.

The group is now making the same request of a 12-member congressional "super committee," which is struggling to reach a bipartisan deal to cut the deficit by at least $1.2 trillion over the next decade in order to help put the nation on sound financial footing.

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