from the inbox:
Today, the Patriotic Millionaires reiterated their call to end the carried interest tax loophole which allows hedge fund managers to pay capital gains rates on income that logically should be characterized as ordinary income. This comes just hours after President Obama called for the closure of the loophole in the upcoming budget showdown with congressional Republicans. Read about the President’s remarks HERE.
Who are the Patriotic Millionaries?
The Patriotic Millionaires are a group of more than 200 Americans with annual incomes over $1 million and/or assets of more than $5 million who believe that the country’s current level of economic inequality is both dangerous and immoral. They recognize that while there are many causes of inequality, the current level of economic disparity is largely the result of a multi-decade effort by wealthy elites to enact legislation designed to enhance their personal wealth and their political power. The Patriotic Millionaires are dedicated to reversing these policies and ensuring that the legislative capture that led to their adoption comes to an end. They have been covered by major news outlets including the New York Times, Washington Post, CNN, MSNBC, Fox News, The Daily Show, PBS NewsHour and many others. You can find more coverage at www.patrioticmillionaires.com/media/ and more on the group at www.patrioticmillionaires.org/about/