Support for LAist comes from
We Explain L.A.
Stay Connected

Share This

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
Today on Giving Tuesday, we need you.
Dear reader, we're asking you to help us keep local news available for all today on Giving Tuesday. Your financial support keeps our stories free to read, instead of hidden behind paywalls AND will be matched dollar-for-dollar! Let your support for reliable local reporting be amplified by this special matching opportunity. Thank you for investing in your neighborhood.

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."