News Release

It's Time for the Bush Tax Breaks for Millionaires to Go

Washington, DC -- Today is the 10th anniversary of the Bush tax cuts for millionaires and billionaires. Campaign for America’s Future is commemorating these costly handouts by taking action to get rid of them.

Here is a copy of the action: visit: http://ourfuture.org/taxtherich
Campaign for America’s Future’s co-president Roger Hickey made the following statement:

“On June 7, 2001, President George W. Bush began to use Americans as lab rats for another experiment in conservative voodoo economics.

“Cutting taxes on the wealthy did not create jobs as conservatives promised. Millionaires and billionaires people instead helped inflate the housing bubble, leading to the financial crash. And the Bush Administration earned the “worst track record on record for jobs”, according to the Wall Street Journal.

“Now that we face chronic deficits, it's long past time for millionaires and billionaires to starting giving back.
“The Bush tax cuts made our tax brackets more regressive. Rep. Jan Schakowsky's Fairness in Taxation Act makes them more progressive.

“It would create new tax brackets for annual income above $1 million, starting at 45% for income between $1 million and $10 million, inching up to 49% for income over $1 billion.

“Before we try balancing the budget by cutting Social Security, unemployment insurance, aid to hungry children or health care for the poor, let's start with the obvious: higher taxes on those who can easily afford it.”

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