On June 6, a day before the 10th anniversary when Bush tax cuts in 2001 were enacted, a group of rich Americans recommended that taxes be raised on individuals who earn beyond $1 million.
A conference call to House Speaker Boehner (R-OH) was made by a group of patriotic millionaires suggesting that the Bush tax cuts should be terminated for those who earn more than $1 million. With this, tax rates would increase. These tax cuts were extended in 2010 and to expire within two years.
The group further argued that revenues generated from this tax cuts expiration could then … Read the rest