An Open Letter to Governor Cuomo and the NYS Legislature

On March 16, 2020, thirty-five members of Responsible Wealth – all in the top 1% of income and/or wealth – sent a letter to New York State Governor Andrew Cuomo and the Legislature advocating for higher taxes on ultra-wealthy individuals like themselves to help fill New York’s pressing and unmet budget needs. Responsible Wealth, a project of United for a Fair Economy, is a national network of investors and other wealthy individuals who are concerned about growing economic inequality and working to change it. Read the press release on our Responsible Wealth project's website.

In the recent letter, top-tier taxpayers describe how they “can and should be asked to do more to contribute to a more equitable state tax structure,’ explaining how small tax increases on New Yorkers earning more than $1 million per year “would result in $4.5 billion in additional annual revenue from those of us most able to pay to help our state meet its needs.” The letter has 29 signatures to date, including the great niece of Walt Disney and winner of UFE’s 2019 “Class Traitor” award, Abigail Disney. You can also read Abigail Disney’s op-ed about why she signed the letter here.

What is Responsible Wealth?

Responsible Wealth is a network of upper-income and wealthy indidviduals (top 5% of wealth and/or income) - inheritors, investors, business owners - who speak out in favor of progressive taxation, living wages & corporate accoutability. RW is a project of the national non-profit United for a Fair Economy that focuses on economic inequality and racial economic inequality.

 


 

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