More than 300 wealthy Americans sent a letter urging them not to support President Donald Trump’s proposed tax plan. They would be the ones to benefit.
They said, “No more tax cuts for the wealthy. Not in our name,” reported Axios.
According to Axios’ report, the letter is signed by some of America’s wealthiest individuals. However, only a select few have permitted their names to become public.
Some of those who have done so include Abigail Disney (philanthropist, Disney heir, and founder of Second Generation Jeffrey Hollender).
Congress is examining options for restructuring the U.S. tax system. Trump wants the tax cuts that he implemented in 2017 to remain in place. Members of Congress believe this could be achieved and that offsets would impact how states collect their income taxes.
Axios reported that the letter sent to Democratic leaders is similar to another one coordinated by The Responsible Wealth Project in 2022.
This tax plea included the phrase, “Nobody likes to pay more taxes, even us. What we dislike even more is a tax regime that undermines Americans’ faith in their government, underfunds national priorities, and contributes to income and wealth disparities.”
