Forty-seven millionaires pulled together by the Agenda Project are asking Barack Obama to allow the expiration of tax cuts George W. Bush gave them and anyone earning more than $1 million a year. Their web site, Patriotic Millionaires for Fiscal Strength, includes the following letter and a place where other millionaires can sign:
We are writing to urge you to stand firm against those who would put politics ahead of their country.
For the fiscal health of our nation and the well-being of our fellow citizens, we ask that you allow tax cuts on incomes over $1,000,000 to expire at the end of this year as scheduled.
We make this request as loyal citizens who now or in the past earned an income of $1,000,000 per year or more.
We have done very well over the last several years. Now, during our nation’s moment of need, we are eager to do our fair share. We don’t need more tax cuts, and we understand that cutting our taxes will increase the deficit and the debt burden carried by other taxpayers. The country needs to meet its financial obligations in a just and responsible way.
Letting tax cuts for incomes over $1,000,000 expire, is an important step in that direction.
Among the 47: Rob Lipp, a senior partner at Brysam Global Partners and previously on the board of JP Morgan Chase who helped that firm acquire Bear Stearns in 2008. Ben Cohen, co-founder of Ben and Jerry's Ice Cream. Peter Norvig, director of research at Google, Inc. Gail Furman, a psychologist who has been a major donor to the Tides Foundation and Media Matters. Sybil Shainwald, an attorney who is a major litigator on women's health issues. George Zimmer, CEO and founder of Men's Wearhouse.
