40 millionaires are begging the government to raise their taxes

CNBC Update: Millionaires OK with Higher Taxes
CNBC Update: Millionaires OK with Higher Taxes

In a classic case of Robin Hood syndrome, NYC millionaires are making a rather unorthodox request to Governor Andrew Cuomo.

In simplest terms, they're asking for a New York state raise in tax rates for the top 1 percent of earners.

No, this isn't a hoax.

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Infrastructure in the state is in need of renovation and fixing, poverty and homelessness are prevalent and growing, and children are suffering at the hands of all of this—and these millionaires want to help.

The letter states:

"As New Yorkers who have contributed to and benefited from the economic vibrancy of our state, we have both the ability and the responsibility to pay our fair share. We can well afford to pay our current taxes, and we can afford to pay even more."

The proposed plan would be called the "one-percent tax plan", which would increase taxes on those earning $665K or more each year.

The existing tax on millionaires will expire next year.

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