Majority Of Millionaires Want To Pay More Taxes
Legislative Session Coverage
WASHINGTON (CBSMiami.com) – Congressional Republicans have spent the better part of the past several months refusing to consider tax increases for those making over a million dollars a year.
But a new survey from the Spectrem Group discovered that 68 percent of millionaires support raising taxes on those who make at least one million dollars a year.
The numbers reflect the overall opinion of the majority of Americans who also favor raising taxes on millionaires as a way to help ease the budget deficit and the national debt.
The proposal to raise taxes on millionaires and billionaires came from multi-billionaire Warren Buffett.
The head of Berkshire-Hathaway made the statement that he should pay more taxes than the people who work for him.
The White House seized on the Buffet idea and added it to jobs bill that was presented to Congress.
Because the tax increase was included, all Senate Republicans and a couple of moderate Democrats stopped the jobs bill in its tracks.
Republicans are also reportedly refusing to consider any tax increases in the on-going Super Committee debate over how to save at least $1.2 trillion from the federal government.
The super committee is facing a deadline of November 23.
If no deal is struck then, large cuts to discretionary spending and defense spending will automatically be implemented.