Contact: Sara Koenig or Shonna Carter, Riptide Communications 212-260-5000
Hundreds of Americans Vow to Re-Invest in the U.S. Economy in Effort To Raise $43 Billion
Wednesday, July 22, 2009 – As states across the country are forced to cut health care and education programs to bridge massive budget deficits, a cross section of America’s wealthiest individuals and business leaders are calling on President Obama and Congress to immediately reverse the Bush-era tax cuts rather than wait for them to expire in 2011. The group, Wealth for the Common Good, includes former Starbucks CEO Howard Behar and Microsoft’s principal architect, Arul Menezes, among others with annual incomes over $235,000, who have joined this emerging network. They will hold a news teleconference laying out their initiative to promote increasing revenue to help pay for improvements in health care, education, infrastructure and energy systems by raising taxes on the wealthy. The group will deliver a petition signed by 190 of America’s top earners along with close to 1,000 others to the President, Speaker of the House, Nancy Pelosi and House Republican Leader John Boehner. The signers are urging them to reinstitute the progressive income tax structure.
“Our country is facing the worst economic challenge since the Great Depression. There is an urgent need to make a long overdue investment in bringing jobs and stability back to our communities.” said Chuck Collins, the co-founder of Wealth for the Common Good and scion of the Oscar Mayer fortune, “this investment should be paid for, in part, by repealing the Bush-era tax cuts that our country can no longer afford.”
WHAT: Teleconference: Launch of Wealth for the Common Good’s campaign for the roll back of Bush tax cuts
WHO: Arul Menezes, Principal Architect Microsoft, Bill Collins, former Mayor of Norwalk, Connecticut, Chuck Collins, Co-founder, Wealth for the Common Good, Alison Goldberg, Coordinator, Wealth for the Common Good.
WHEN: Wednesday, July 29th , 11 ET
Wealth for the Common Good was established to bring together a network of business leaders and high net worth individuals who want to play a role in public policy and promote pragmatic and progressive tax reform.
(Organizational affilitions for our speakers are listed for identification purposes only. They represent themselves, not their employers.)