Millionaires Support Warren Buffett’s call for More Taxes on the Rich
Warren Buffett isn’t the only rich guy who wants to higher taxes on the rich, such as The Robin Hood tax which he has specifically endorsed. A survey from Spectrem Group found that 68% of millionaires (those with investments of $1 million or more) support raising taxes on those with $1 million or more in income.
Fully 61% of those worth of $5 million or more support the tax on million-plus earners.
Buffett, as you might recall, has proposed raising taxes on million-plus earners, saying the ultra-rich pay lower rates than everyday workers.
Rich people’s opinions of Buffett remain fairly positive in the wake of his tax-me-more crusade. More than a third of millionaires and ultra-high-net-worth’s said they have a more positive opinion of Buffett after his tax proposal.
The Robin Hood Tax on Wall Street can be a game changer start towards a fairer, more democratic, more humane, more balanced, and more moral American Tax System.
While the Nay Sayers are few, they have the Darth Vader brothers on their side.
Only 19% of millionaires and 22% of the $5 million -plus group said they had a more negative opinion of him after his tax increase proposal. For more details see: http://blogs.wsj.com/...
This tiny sales tax on Wall Street is:
.5% on stocks, just $.50 (50 cents) for each $100 of stock trades;
.1% on bonds, just $.10 (ten cents) for each $100 of bond trades;
.005% on derivative speculation in currencies, commodities, or other trades, just $.005 (half a penny) for each $100 of trades
The revenue generated is estimated by economists to be up to 350 billion each year!
The Robin Hood Tax can be a game changer for a fairer, more democratic, more humane, more balanced, and more moral American Tax System.
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