This story is free to read because readers choose to support LAist. If you find value in independent local reporting, make a donation to power our newsroom today.
This is an archival story that predates current editorial management.
This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.
'I don't know a single millionaire who needs a tax cut'
AP Photo/Cathleen Allison
Senator Dianne Feinstein (D-California) published her take on the current debate about tax cuts in today's Huffington Post. "I don't know a single millionaire who needs a tax cut right now," begins the Senator. "But I know plenty of middle class Americans who desperately need every extra dollar in these tough economic times."
Feinstein is putting her support behind the "Middle Class Tax Cuts Act." She says "extending the current tax rates for the middle class is crucial to encourage economic growth."
In a time when the rich, according to Feinstein, are doing well (she cites high sales of luxury goods) she believes it is not much to ask that the nation's wealthiest pay the additional 4.6 percent tax, to alleviate the burden the middle class are bearing in the current economy. Doing so would be part of rectifying the "economic mess" Feinstein says previous President George W. Bush caused. "Clearly it's time to extend tax cuts for those Americans who need it," concludes Feinstein. "And it's time to end the Bush tax cuts for wealthy Americans."
You come to LAist because you want independent reporting and trustworthy local information. Our newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our connected community. We are free to tell the full truth, to hold power to account without fear or favor, and to follow facts wherever they lead. Our only loyalty is to our audiences and our mission: to inform, engage, and strengthen our community.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Senior Vice President News, Editor in Chief
