Hundreds of millionaires are banding together to tell Congress: Raise our taxes

Stacey Yuen
Nicholas Kamm | AFP | Getty Images. Over 400 wealthy Americans are reportedly sending a letter to Congress calling on lawmakers not to cut their taxes — but to raise taxes on the rich.

Over 400 millionaires and billionaires from the

United States

plan to send a letter to Congress this week petitioning on lawmakers not to

cut their taxes

— but to raise taxes on the wealthy, according to

a Washington Post report

.

Instead of calling for tax cuts for the rich, the letter urges lawmakers not to pass any tax bill that "further exacerbates inequality" and adds to national debt, the article said. The move comes at a time when inequality is at its peak since the 1920s and g

overnment debt levels are also high, the Post reported.

The letter was put together by liberal group

Responsible Wealth

. Most of its signatories come from

California

,

New York

and

Massachusetts

, states that voted for Democrat

Hillary Clinton

in last year's presidential race, according to the Washington Post.

The support of Republican representatives from California, New York and

New Jersey

is expected to be crucial for the GOP's tax reform efforts to see success, the Post reported.

Read the full story on the petition on the Washington Post.

Over 400 millionaires and billionaires from the

United States

plan to send a letter to Congress this week petitioning on lawmakers not to

cut their taxes

— but to raise taxes on the wealthy, according to

a Washington Post report

.

Instead of calling for tax cuts for the rich, the letter urges lawmakers not to pass any tax bill that "further exacerbates inequality" and adds to national debt, the article said. The move comes at a time when inequality is at its peak since the 1920s and g

overnment debt levels are also high, the Post reported.

The letter was put together by liberal group

Responsible Wealth

. Most of its signatories come from

California

,

New York

and

Massachusetts

, states that voted for Democrat

Hillary Clinton

in last year's presidential race, according to the Washington Post.

The support of Republican representatives from California, New York and

New Jersey

is expected to be crucial for the GOP's tax reform efforts to see success, the Post reported.

Read the full story on the petition on the Washington Post.



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