American millionaires are asked not to cut their taxes

American millionaires are asked not to cut their taxes

More than 400 American millionaireand billionaires sent a letter to Congress, urging Republicans not to cut them taxes.

Rich Americans, among them — doctors, lawyers, entrepreneurs say that the Republican party is making a mistake in a time when debt is high, and social inequality close to the worst figure since 1920-ies.

American millionaires are asked not to cut their taxes

The letter, according to Washington Post, urging people not to take the tax bill, which even more increase this inequality. Instead, the millionaires, by contrast, are asked to raise their taxes.

Among those who signed the appeal – founder of ice cream company Ben & Jerry Ben Cohen and Jerry Greenfield, the designer Eileen Fisher, billionaires George Soros and Steven Rockefeller, and many others.

«I think tax cuts is absurd,» said Bob crandall, the former head of American Airlines, who also signed the appeal. «Republicans say we can’t afford to spend much, but at the same time, we provide a wealth of such tax benefits. It makes no sense».

Tax cuts for businesses and people earning over 500 thousand dollars a year – one of the key points of the new tax code , trump, which he hopes will take until Christmas.

The white house argues that the bill aims to ensure that the U.S. economy received more investment. According to the authors of the reform, the money that the rich save on taxes, will be used to create new companies, industries, and hence jobs.

But those who signed an address to Congress, do not agree with this opinion. They say they’d rather the government invested in education, science, roads and social protection programmes, for example, Medicaid is what everyone needs.

«I have a lot of income. If he becomes more, I’m not going to invest. I’m just more saves,» said crandall.