A network of business leaders and high net worth individuals have petitioned for a tax increase and are arguing in favor of Wealth for the Common Good. The economic policies of the last thirty years have disproportionately benefited top earners and because of the Bush tax cuts, households with incomes over $250,000 save more than $700 billion during a time of war. Wealth for the Common Good has called on the Obama Administration and Congress to repeal the Bush cuts for households earning over $235,000 before they expire in 2011. Doing that would raise approximately $43 billion in revenues and help address this nation’s public investment deficit. This would improve healthcare, schools, and additional areas vital to our nation’s health and wealth. Over 200 people who would pay these taxes have signed onto the petition which will be delivered to President Obama,Speaker Nancy Pelosi, and House Republican Leader John Boehner.
Title: Wealth for the Common Good,Author: Katrina Vanden Heuvel,
Source: The Nation, 07/30/2009
Student Researcher: Marissa WarfieldFaculty
Evaluator: Stephanie Dyer, PhDSonoma State University