BRADENTON – Last Wednesday, two dozen millionaires descended on Washington DC to reissue their call for higher taxes on wealthy Americans in the face of the fiscal cliff. A group calling themselves the Patriotic Millionaires attended over a dozen meetings with Congressional leaders from both parties, hoping to inject perspective into the budget debate.
Former AOL Executive Charlie Fink said he doesn't fear the so-called fiscal cliff.
“There is no problem in business – or government – that cannot be solved with more revenue. Let the Bush tax cuts expire," said Fink. "Contrary to apocalyptic predictions about cliffs, the expiration of those tax cuts, never intended to be permanent, will begin the necessary work of fixing our nation's problems, and paying off our debts.”
Fellow member Woody Kaplan said there were a few loopholes he'd jettison right away.
“I agree with Speaker Boehner – we need to close tax loopholes – the ‘carried interest’ for hedge fund managers and the mortgage deduction for luxury and second homes might be good places to start," said Kaplan. "I agree with President Obama – we need to raise the rate on that portion of anyone's income exceeding a quarter of a million dollars per year. Millionaires will be fruitful and multiply in a country with a transparent and fair system of taxation, and a rising middle class.”
Patriotism and freedom routinely go hand in hand, and CEO of NuCompass Mobility Services Frank Patitucci said that it's no different when it comes to the economy.
“For us to have a free enterprise economy that works, we need government to do its part," said Patitucci. "In short, free enterprise isn't free! To continue to benefit from this great system, those of us who have benefited the most have to step up and pay our fair share.”
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