While most people would assume that the wealthy would chafe at such a heavy burden, some affluent individuals have apparently organized spontaneously to express their willingness to help the country. In interviews and articles, these self described "Patriotic Millionaires" have implored Congress and the President to raise their taxes. They claim they can easily afford to pay a little more to save the nation from fiscal insolvency.
Conservative economists believe that an economy is most vibrant when as much money as possible is left in the private sector where it can be used for business investment and job growth. Left wing economists believe that government spending, which they term "investment," does more good. Through this lens, it's tempting to see the Patriotic Millionaires as well meaning Americans who have simply subscribed to a misguided economic philosophy. However, the reality may be far more sinister.
Daniel Berger, a spokesperson for the group, joined me last week on my radio show. Based on that highly charged and polarized discussion, it would be logical to conclude that the group is simply comprised of Democrat shills masquerading as patriots. Time and again Mr. Berger regurgitated Democratic talking points without the slightest ability to critically analyze his own positions. His goal was to simply create the impression that paying high taxes is patriotic. His hypocrisy was not hard to uncover.
An expert on money, economic theory, and international investing, Peter is a highly recommended broker by many leading financial newsletters and investment advisory services. He is also a contributing commentator for Newsweek International and served as an economic advisor to the 2008 Ron Paul presidential campaign.