WASHINGTON -- Paul Egerman isn't certain how many millions he's saved from the tax cuts enacted during the George W. Bush administration in the early 2000s and extended by President Barack Obama in December of last year.
"I do not know how much I've saved over 10 years but I'm sure it is several million dollars -- probably in excess of $10 million," said Egerman, founder of a medical transcription company called eScription.
And what, HuffPost asked, have you done with all that cash?
"I've kept it," he said. "I have not done anything with that money."
Egerman is part of a gang of self-described Patriotic Millionaires who wish the federal government would help itself to more of their money to address its big budget deficits. Nearly 200 millionaires have signed a letter asking congressional Republicans to consider healing budget gaps with increased revenue -- in particular, higher taxes on millionaires -- instead of just reduced spending.
The group is coordinated by the Agenda Project, a New York think tank, and Wealth for the Common Good, a network of business leaders and wealthy people that promotes "fair and adequate taxation" to support the economy.
Other millionaires on a conference call Monday morning said they had more fun with their extra money than Egerman did.
"I probably traveled a little bit more than I otherwise would have," said Frank Patitucci, CEO of NuCompass Mobility Services, a company that offers relocation management services.
"I got a bigger boat than I used to have," said Dennis Mehiel, the founder and chairman of cardboard box manufacturer U.S. Corrugated, Inc. He lamented that the construction of his 150-foot sloop didn't create any jobs for American workers. "The problem is, it was built in Italy."
Dal LaMagna, founder of Tweezerman, said he used his extra money to help the local economy in by adding stuff to his house in the Pacific Northwest.
"I just started creating jobs myself. I built a dance floor in my house -- which I really didn't need," LaMagna said, adding that he also put in a parking lot. "I just became a Dal LaMagna economic stimulus package in Poulsbo, Washington."
Full Article
Source: Huffington Post
"I do not know how much I've saved over 10 years but I'm sure it is several million dollars -- probably in excess of $10 million," said Egerman, founder of a medical transcription company called eScription.
And what, HuffPost asked, have you done with all that cash?
"I've kept it," he said. "I have not done anything with that money."
Egerman is part of a gang of self-described Patriotic Millionaires who wish the federal government would help itself to more of their money to address its big budget deficits. Nearly 200 millionaires have signed a letter asking congressional Republicans to consider healing budget gaps with increased revenue -- in particular, higher taxes on millionaires -- instead of just reduced spending.
The group is coordinated by the Agenda Project, a New York think tank, and Wealth for the Common Good, a network of business leaders and wealthy people that promotes "fair and adequate taxation" to support the economy.
Other millionaires on a conference call Monday morning said they had more fun with their extra money than Egerman did.
"I probably traveled a little bit more than I otherwise would have," said Frank Patitucci, CEO of NuCompass Mobility Services, a company that offers relocation management services.
"I got a bigger boat than I used to have," said Dennis Mehiel, the founder and chairman of cardboard box manufacturer U.S. Corrugated, Inc. He lamented that the construction of his 150-foot sloop didn't create any jobs for American workers. "The problem is, it was built in Italy."
Dal LaMagna, founder of Tweezerman, said he used his extra money to help the local economy in by adding stuff to his house in the Pacific Northwest.
"I just started creating jobs myself. I built a dance floor in my house -- which I really didn't need," LaMagna said, adding that he also put in a parking lot. "I just became a Dal LaMagna economic stimulus package in Poulsbo, Washington."
Full Article
Source: Huffington Post
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