Monday, November 12, 2012

A Couple of Challenges to the "Patriotic Millionaires"

There's a group calling themselves the Patriotic Millionaires, who are calling for Congress to pass legislation that will put into effect the Buffett Rule.

BR is a tax plan proposed by President Barack Obama in 2011. The tax plan would apply a minimum tax rate of 30 percent on individuals making more than a million dollars a year.

Note, this would only apply to newly earned income. Thus, this provides a distinct advantage to those who are already multi-millionaires,  who have already accumulated wealth in years when tax rates were lower, as opposed to others just trying to make it into the multi-millionaire category, who will be stifled by the new tax.

Thus, will the "Patriotic Millionaires" who have already made millions over the years be willing to give 30% of their wealth up as taxes to, so to speak, even the playing field? I put this challenge to them.

Second, since this tax revenue is to be turned over to government without a discussion of the bureaucratic methods of government agencies and the power centers created by government, will these "Patriotic Millionaires" allow me to exam their businesses, finances and portfolios and call in government agencies, whenever I see fit, to enforce various agency regulations that they might not be following, since they are so keen to support these agencies by calling for greater taxes on others? I put this challenge to them.

Here's the list of the "Patriotic Millionaires", let's see how many will agree to accept these two challenges.






EVELYN ALDRICH-WINTHROP
Rumson, NJ

MICHAEL ALEXANDER
El Macero, CA

CYNDA COLLINS ARSENAULT
Superior, CO

JACOB B
New York, NY

WD B
Aspen, CO

NANCY BAGLEY
Washington, DC

MICHAEL BARR
Baltimore, MD

PATRICIA BAUMAN
Washington, DC

HENRY BEAN
New York, NY

DICK BEATTIE
New York, NY

PAUL BEIRNE
New York, NY

LAWRENCE B. BENENSON*
New York, NY

DANIEL BERGER
Philadelphia, PA

D.A.
San Francisco, CA

N.A.
Dallas, TX

ROBERT S. BOWDITCH
Brookline, MA

BRADY BRIM-DEFOREST*
Los Angeles, CA

DAVID A. BROWN
Berkeley, CA

MARK BUELL
San Francisco, CA

SUSIE BUELL
San Francisco, CA

DOUG CARLSTON
San Rafael, CA

DAVID CHIANG
Las Vegas, NV

JEROME CLELAND
San Diego, CA

TOM AND NOEL CONGDON
Denver, CO

ROY CRAWFORD
Whitesburg, KY
A D
Sacramento, CA
SCOTT DELMAN
New York, NY

DAVID DESJARDINS
Burlingame, CA

ABIGAIL DISNEY
New York, NY

BILL DONALDSON
Redford, MI

MARTA DRURY
San Francisco, CA

FARHAD EBRAMIMI
MA

DOUG EDWARDS
Los Altos, CA

PAUL AND JOANNE EGERMAN*
Boston, MA

JAY EISENHOFER
New York, NY

NIKO ELMALEH
New York, NY

DAN F.
Greenwich, CT

EDIE FALCO
New York, NY

RONALD FELDMAN
New York, NY

JERRY FIDDLER
Berkeley, CA

CHRISTOPHER FINDLATER
Naples, FL

CHARLIE FINK
Washington, DC

JONATHAN FISHER
Seattle, WA

RICHARD FOOS
ERIC FREDRICKSON
Los Gatos, CA

JOHN FULLERTON
Rye, NY

RON GARRET, PHD
Emerald Hills, CA

TED GAVIN
WILMINGTON, DE

BILL GAWTHROP
Yorkville, CA

DREW GINSBURG
Dallas, TX

STEVEN GLUCKSTERN
San Francisco, CA

DAVID GOLDSCHMIDT
Princeton, NJ

JOSH GORDON
Las Vegas, NV

LINDA GOTTLIEB
New York, NY

GARRETT GRUENER*
Oakland, CA

AGNES GUND
New York, NY

JEFF GURAL
New York, NY

NATHAN HADFIELD*
Provo, UT

BRUCE HELMER
Chanhassen, MN

SUZANNE AND LAWRENCE HESS*
San Diego, CA

ARNOLD HIATT
Boston, MA

KENNY HILLMAN
LEO HINDERY, JR.
New York, NY

BILL JANEWAY
New York, NY

FRANK JERNIGAN*
San Francisco, CA

MELISSA C. JOHNSEN*
Kirkwood, MO

JOHN S. JOHNSON
New York, NY

ROB JOHNSON
New York, NY

WAYNE JORDAN
Oakland, CA

WILLIAM JURIKA
Piedmont, CA

JOSEPH KAEMPFER
Mclean, VA

AL KAHN
New York, NY

JOEL KANTER
Vienna, VA

JOSH KANTER
Sandy, UT

WOODY KAPLAN
Boston, MA

ROB S. KAPLAN
New York, NY

ROCHELLE KAPLAN
Salt Lake City, UT

JANE KATCHER
JOHN KATZMAN
New York, NY

JOHN KORTENHAUS*
Plano, TX

DAL LAMAGNA
Poulsbo, WA

STEVE LARRSON
Fairfax, WA

NORMAN LEAR
Los Angeles, CA

JOAN LEIBOVICH
Boston, MA

DAVID LEVINE*
New York, NY

MARY & CHARLES LIEBMAN*
IL

DOUG L
New York, NY

ART LIPSON
Salt Lake City, UT

EUGENE LONG
Plymouth Meeting, PA

ALEXANDER M
Los Altos, CA

JOSH MAILMAN
New York, NY

MICHEL MARKS
Red Bank, NJ

WIN MCCORMACK
Portland, OR

DOC MCCOY
Fort Worth, TX

GRAHAM MCDONALD
Philadelphia, PA

TERENCE MEEHAN
New York, NY

DENNIS MEHIEL
New York, NY

DIANE MEYER SIMON
Santa Barbara, CA

HERB MILLER
Washington, DC

VIBHU MITTAL
Palo Alto, CA

KEN MORRIS
San Francisco, CA

STEVEN NAGOURNEY
New York, NY

SHEKAR NARASIMHAN
Mclean, VA

CHRIS NELSON
Barrington, RI

KELLY NELSON
WENDY NEU
New York, NY

PETER NORVIG*
Palo Alto, CA

LARRY NUSBAUM
Phoenix, AZ

GARY PASSON
Kihei, HI

FRANK PATITUCCI*
Pleasanton, PA

RAKITA PAYNE
Virginia Beach, VA

MORRIS AND BARBARA PEARL
New York, NY

JUDY PIGGOT*
Seattle, WA

REBECCA PONTIKES*
CATHERINE RAPHAEL*
ANDY RAPPAPORT
Menlo Park, CA

GREAT NECK RICHMAN
New York, NY

NOURIEL ROUBINI
New York, NY

JONATHAN ROSE
New York, NY

FRED ROTONDARO
Shady Side, MD

MICHAEL SALAKO
DeSoto, TX

GUY AND JEANINE SAPERSTEIN
Piedmont, CA

HEIKE SCHMITZ
Palo Alto, CA

FRITZ SCHNEIDER*
San Francisco, CA

ERIC J. SCHOENBERG
Franklin Lakes, NJ

RICK SCHOTTENFIELD
New York, NY

DAVID SCHROEDERS
Sarasota, FL

JAMES SEILER
Alpine, NJ

SYBIL SHAINWALD
New York, NY

ED SHUFRO
STEPHEN M. SILBERSTEIN
Belvedere, CA

EMANUEL STERN
New York, NY

JOHN STEWART
San Francisco, CA

CRAIG SILVERSTEIN
Mountain View, CA

SUSAN SMALLEY
Beverly Hills, CA

JEFF SMULYAN
Indianapolis, IN

PAT SPIEGEL
Aptos, CA

MICHAEL STEINHARDT
New York, NY

DAN STEVENS
Naples, FL

RICK STEVES
Edmonds, WA

SARAH STRANAHAN
SANDOR AND FAYE STRAUS
Lafayette, CA

SIMON STRAUSS
New York, NY

PAT STRYKER
Fort Collins, CO

MAUREEN TATE
Philadelphia, PA

WHITNEY TILSON
New York, NY

ANDREW TOBIAS
New York, NY

BETH UFFNER
New York, NY

SUSAN VAN DOLSEN
Rye, NY

PHILLIPE VILLERS
Concord, MA

KEVIN WALL
Beverly Hills, CA

CHRISTY AND SCOTT WALLACE
Washington, DC

ROSS WALLER
Lexington, VA

DAVID WATSON
Oakland, CA

VINITHA WATSON
Oakland, CA

ANGELA WB
New York, NY

PETER WEINBERGER
New York, NY

BERNARD AND CAROL WINOGRAD
New York, NY

GEORGE ZIMMER
Piedmont, CA

4 comments:

  1. Patriots don't give money. Patriots give of themselves and their lives. They commit to a selfless way of life. For others.

    You don't BUY patriotism.

    Are you trying to convince me that a bunch of self serving ego maniacs are declaring themselves patriotic? They can choke on their money. Patriots? They don't know the definition of the word.

    After taking advantage of trillions of taxpayer dollars that saved billions for Warren Buffett's banking investments- now he wants to pony up a few mill and call himself a patriot?

    Lick their boots. Not me. I say screw em and their money. http://thecivillibertarian.blogspot.com/2012/11/east-coast-now-feeling-pain-of-crony.html

    ReplyDelete
  2. The easiest way to call this groups bluff is for the Reps to propose making muni income subject to the 30% rule. Obama's b/s Buffet rule conveniently excluded muni income which is what most of the extremely wealthy own. BTW, higher taxes increase the value of muni bonds, although I doubt that it their objective. They are offering the sacrifice of those accumulating wealth (their competition) so that their wealth will be left alone.

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  3. I run into these types in Chicago all of the time. Whenever they talk about raising taxes, I always suggest that we tax wealth. They always reply that that wouldn't be fair. To a man, these guys all made it years ago and have hobby income only at this point.

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  4. "Thus, will the "Patriotic Millionaires" who have already made millions over the years be willing to give 30% of their wealth up as taxes to, so to speak, even the playing field?"
    --Wouldn't paying 30% income tax retroactively for every year that they made $1mil.+ be the correct way to go?

    ReplyDelete