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'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."
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
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