If you think the rich should pay more in taxes, you're not alone. Supporters come from among the millionaire ranks themselves. In the wake of billionaire Warren Buffett's written plea in the New York Times calling for Congress to impose more taxes on the super-wealthy, two dozen millionaires went to Capitol Hill to make their case in person.
"We want to pay more taxes," Doug Edwards, a California millionaire, said.
A 12-member Congressional super committee has until Wednesday to agree on a $1.2-trillion savings plan over the next 10 years, and the group of millionaires wants them to reject any deals that don't include raising taxes on the wealthy. So far, the committee is gridlocked, and members are not optimistic about reaching accord. CNBC reported on Sunday that the members have been blaming each other for the impasse.
The rich who visited the Hill are lobbying to expire the Bush-era tax cuts, which set the highest income tax rate at 35 percent and the long-term capital gains rate at 15 percent.
The emergence of the so-called "Buffett Rule" has taken on more steam since the billionaire's op-ed piece in the New York Times. In the article, Buffett says it's irresponsible for the rich to pay fewer taxes than the majority of the population, especially with the government facing such an enormous deficit.
Do you think Congress will respond and raise taxes on the wealthy?
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