Tags: Dow | Chemical | millionaire | Tax

Dow Chemical CEO: I'm a Millionaire, Come On Tax Me

By    |   Friday, 18 Nov 2011 01:24 PM

Andrew Liveris, CEO of Dow Chemical, is another rich and influential figure who believes that he is undertaxed. Liveris is calling on Congress to raise taxes on millionaires — including himself, CNN Money reports.

President Barack Obama's insistence that millionaires and billionaires should pay more taxes has been referred to by critics as class warfare.

The New York Daily Times quoted the president as saying, “I believe this is a contribution they're willing to make.”

Individuals like Liveris confirm that belief and reveal that some of the wealthy believe that they must be looked to if the nation is to solve its problems and pave a better way forward.

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Andrew Liveris
(Getty Images photo)
At a speech Wednesday night, Liveris told the crowd "Come on, we are underpaying for our future,” CNN Money reported.

He also said that that balancing revenue collection and distribution of wealth is "what made this country great," CNN Money reported.

Liveris is not the only millionaire actively pushing for higher taxes on the wealthy.

ABC News says two dozen wealthy members of the group Patriotic Millionaires for Fiscal Strength are targeting members of the deficit supercommittee to increase their taxes.

"America is no longer based on markets and capitalism, instead our economy is designed as 'socialism for the rich' – it is designed to ensure that the wealthiest people take all of the gains, while regular Americans cover any losses," ABC News reported that patriotic millionaire Robert Johnson, former chief economist of the U.S Senate banking committee, said at a news conference.

Though some of the wealthy are in favor of the government getting a larger share of their cash, many others don't seem as supportive of the idea.

“Come on,” CNN Money says Liveris told corporate leaders, "everyone over a certain threshold of money — and you can define what it is — but I can tell you the highest tax payers, including me, should be paying more.”

While his speech did garner applause a few times, his call to raise taxes was not applauded, CNN Money added.

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Andrew Liveris, CEO of Dow Chemical, is another rich and influential figure who believes that he is undertaxed. Liveris is calling on Congress to raise taxes on millionaires including himself, CNN Money reports. President Barack Obama's insistence that millionaires and...
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Friday, 18 Nov 2011 01:24 PM
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