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Sat Jun 29, 2019, 05:50 PM

'Raise My Taxes,' Says This Detroit-Bred Billionaire, Who Gets The Harm Of Income Inequality

"For most people, our system isn’t working," writes a well-known Michigan State grad and major benefactor who has done quite well under our system.

Eli Broad, a billionaire industrialist raised in Detroit by immigrant parents, has a provocative guest column in The New York Times. Under the headline "I'm in the 1 Percent. Please, Raise My Taxes," he discusses "the deep inequities preventing most Americans — the factory workers and farmers, entrepreneurs and electricians, teachers, nurses and small-business owners — from the basic prosperity we call the American dream."

It's time for those of us with great wealth to commit to reducing income inequality, starting with the demand to be taxed at a higher rate than everyone else. . . .

I have watched my wealth grow exponentially thanks to federal policies that have cut my tax rates while wages for regular people have stagnated and poverty rates have increased.

So when the Democratic candidates take the stage this week for their first debate, I invite fellow members of the 1 percent to join me in demanding that they engage in a robust discussion of how we can strengthen a post-Trump America by reforming our tax code.

Here's what great wealth means in his case: Broad (pronounced BRO-de) is 233rd on the global Forbes List with an estimated net worth of $6.7 billion -- making him the 78th wealthiest American.

The 86-year-old describes himself in The Times as "the child of Jewish immigrants from Lithuania who came here with little more than an oversize belief in what America could offer."

Read more: http://www.deadlinedetroit.com/articles/22667/raise_my_taxes_says_this_detroit-bred_billionaire_who_gets_the_harm_of_income_inequality

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Reply 'Raise My Taxes,' Says This Detroit-Bred Billionaire, Who Gets The Harm Of Income Inequality (Original post)
TexasTowelie Jun 2019 OP
Tanuki Jun 2019 #1
theaocp Jul 2019 #2

Response to TexasTowelie (Original post)

Sat Jun 29, 2019, 05:54 PM

1. George Soros, Abigail Disney and others-are taking a similar stand


"More than a dozen of the richest Americans have a message for 2020 presidential candidates: Tax us more.

In a letter sent to candidates Monday, 18 members of some of the nation's wealthiest families advocated for a wealth tax on people who amassed great personal fortunes, including themselves.

"We are writing to call on all candidates for president, whether they are Republicans or Democrats, to support a moderate wealth tax on the fortunes of the richest one-tenth of the richest 1% of Americans -- on us," said the letter, which was first published in the New York Times Monday."...(more)

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Response to TexasTowelie (Original post)

Thu Jul 25, 2019, 12:37 PM

2. If I missed it, was this idea floated at the first debates?

If so or not, I hope it IS brought up in the future.

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