Jewish Millionaires Tell Congress: Don’t Cut Our Taxes!
Image by getty images
By Aiden Pink November 13, 2017
More than 400 millionaires and billionaires have signed a letter urging Congressional Republicans not to cut their taxes.
The letter, organized by the nonprofits United for a Fair Economy and Voices for Progress, urges Congress not to pass a tax bill that “further exacerbates inequality.”
The letter claims that the bills working their way through the House and Senate “would disproportionately benefit wealthy individuals and corporations,” specifically citing the repeal of the estate tax and the cutting of pass-through rates.
“Repealing the estate tax alone would lose an estimated $269 billion over 10 years — more than we would spend on the Food and Drug Administration, Centers for Disease Control, and Environmental Protection Agency combined,” the letter said.
Among the signers of the letter are financier and philanthropist George Soros, former Secretary of Labor Robert Reich, and Ben Cohen and Jerry Greenfield, founders of Ben & Jerry’s Ice Cream.
One of the top White House backers of the tax reform effort is National Economic Council director and former Goldman Sachs president Gary Cohn. “I don’t believe that we’ve set out to create a tax cut for the wealthy,” he said in an interview with CNBC last week. “If someone’s getting a tax cut, I’m not upset that they’re getting a tax cut. I’m really not upset.”
Contact Aiden Pink at [email protected] or on Twitter, @aidenpink
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning journalism this Passover.
In this age of misinformation, our work is needed like never before. We report on the news that matters most to American Jews, driven by truth, not ideology.
At a time when newsrooms are closing or cutting back, the Forward has removed its paywall. That means for the first time in our 126-year history, Forward journalism is free to everyone, everywhere. With an ongoing war, rising antisemitism, and a flood of disinformation that may affect the upcoming election, we believe that free and open access to Jewish journalism is imperative.
Readers like you make it all possible. Right now, we’re in the middle of our Passover Pledge Drive and we still need 300 people to step up and make a gift to sustain our trustworthy, independent journalism.
Make a gift of any size and become a Forward member today. You’ll support our mission to tell the American Jewish story fully and fairly.
— Rachel Fishman Feddersen, Publisher and CEO
Join our mission to tell the Jewish story fully and fairly.
Only 300 more gifts needed by April 30
