Lawrence, a realtor in New York, and David, an entrepreneur in California, have done pretty well over the years. In fact, they’re both millionaires.
Even though it would mean they’d pay more in taxes, they support President Obama’s Buffett Rule—and they’re speaking out about why millionaires and billionaires should pay their fair share:
David: “I made my money, fairly recently, through Silicon Valley. While growing up I saw my parents struggle to pay their taxes, and once I started working I always paid a normal tax rate—so I was really surprised to cross this income barrier and find out about this secret world of very low taxes. I’m surprised at the politics of the whole thing, and I’m surprised that taxes on the wealthy were lowered in the first place. It doesn’t quite make sense; why would we increase the deficit to give even more tax breaks to people who already have money? It’s completely detached from what middle-class people are dealing with.”
Lawrence: “I’m standing up for the Buffett Rule so I can sleep at night, knowing that I helped the country be a fairer place. I’m a realtor—I’m doing very well and I’m living in a country where the income gap is widening. Let’s say my secretary is paying a higher tax rate than I do. She’s paying for the road I drive on, and she may not even be able to afford a car. And Congress knows that the vast majority of the people they represent in their districts or their states are for the Buffett Rule.”
David: “I don’t know how Congress could come to a different conclusion than us—it’s common sense. All the people who I know whose taxes would go up don’t feel like it would be a big burden. I am an Independent voter, and I don't see this as a political issue between parties, I see it as an American issue. We would all like to see this country continue to have good infrastructure and a good quality of life.”
Lawrence: “I think that speaking up is the obligation of any fair-minded person. It’s our patriotic duty—like jury duty, voting, and paying your taxes.”
David and Lawrence aren’t the only millionaires who are standing up for tax fairness. Learn more about the Buffett Rule and see who else is on board.