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Monday, March 21, 2016

Astounded By Millionaires

More than 40 millionaires, including members of the Rockefeller and Disney families, are asking to have their taxes raised to help address poverty and rebuild failing infrastructure. 

The millionaires wrote a letter to Democratic Gov. Andrew Cuomo and top New York lawmakers proposing new, higher tax rates for the top 1% of earners in the state. 

The letter says that additional revenue would help addressing child poverty, homelessness and aging bridges, tunnels, water pipes and roads. 

"As New Yorkers who have contributed to and benefited from the economic vibrancy of our state, we have both the ability and the responsibility to pay our fair share," the letter states.

 "We can well afford to pay our current taxes, and we can afford to pay even more." 

The tax plan, known as the one-percent tax plan, was worked out in conjunction with the Fiscal Policy Institute, a left-leaning economic think tank.

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