Would a voluntary millionaire's tax work in the U.S.?

By the time you read this, you may have missed the opportunity to join in this interesting dialog and question of the day by CNN political critic and journalist Jack Cafferty. But it is still worth going to his site to read the responses and his entire commentary on the subject as I am doing.

With the U.S. drowning in a monstrous $13 trillion national debt, it's clear we need to consider any and all options to stem the tide.

This may be an idea worth taking a look at... then again, maybe not.

A group of 51 German millionaires and billionaires is volunteering to give up 10 percent of their income for 10 years to help with that country's finances.

CNBC reports that these uber-wealthy Germans founded a "Club of the Wealthy"... and proposed the so-called "rich tax" to Chancellor Angela Merkel.

Germany, like much of Europe, is in the midst of tightening its fiscal belt... as the country debates an upcoming $80 billion Euro austerity package.

 blog it

Comments