June 17th, 2010
06:00 PM ET

Would a voluntary millionaire's tax work in the U.S.?

FROM CNN's Jack Cafferty:

With the U.S. drowning in a monstrous $13 trillion national debt, it's clear we need to consider any and all options to stem the tide.

This may be an idea worth taking a look at... then again, maybe not.
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2010/images/06/17/art.gates.jpg caption="Bill Gates"]
A group of 51 German millionaires and billionaires is volunteering to give up 10 percent of their income for 10 years to help with that country's finances.

CNBC reports that these uber-wealthy Germans founded a "Club of the Wealthy"... and proposed the so-called "rich tax" to Chancellor Angela Merkel.

Germany, like much of Europe, is in the midst of tightening its fiscal belt... as the country debates an upcoming $80 billion Euro austerity package.

It's a noble gesture, but so far there are only 50 German millionaires on board... out of an estimated 800,000.

The total number of millionaires represents about one percent of Germany's population; similar to the ratio of millionaires here in the U.S. Makes you wonder how many American millionaires would be willing to do the same.

Speaking of America's very rich - two of the wealthiest are calling on their fellow billionaires to give away half of their wealth for charity during their lifetimes or after they die.

As first reported in Fortune Magazine, Warren Buffett and Bill Gates want the 400 richest people in the U.S. to give $600 billion to philanthropy and charity.

Their goal is to create an expectation that the rich should give away a big part of their wealth to better society.

Here’s my question to you: Would a voluntary millionaire's tax work in the U.S.?

Interested to know which ones made it on air?


Filed under: Bill Gates • Taxes
June 17th, 2010
05:00 PM ET

Should federal govt. sue Arizona over immigration law?


A U.S. Customs and Border Protection agent drives along a portion of the border fence that separates Mexico and Arizona. (PHOTO CREDIT: GETTY IMAGES)

FROM CNN's Jack Cafferty:

Just about the last thing Arizona needs is a federal lawsuit over its new immigration law.

Governor Jan Brewer tells HumanEvents.com that she would rather the federal government use that money to "help me build a fence on my border."

Brewer has sent a letter to Attorney General Eric Holder urging the department of justice not to file suit - because there are already five federal court lawsuits pending.

They all are challenging Arizona's new law, that goes into effect July 29, and requires police to check the immigration status of people detained for other crimes.

Brewer says that every conceivable constitutional issue or question will be raised in these five other lawsuits. She wants the courts dismiss all of them.

In addition - the governor says she's hiring a private attorney to defend this new law since Arizona's Attorney General opposes it.

Brewer says other border states, like California and New Mexico, which oppose the law are simply not facing the same problem as Arizona is... she refers to her state, Arizona, as "the gateway for all illegal immigration, drug cartels and gangs" coming into the U.S.

And she's got a point. 3,500 acres of southern Arizona along Mexico's border - including a national wildlife refuge - have been closed to U.S. citizens for nearly four years because of increasing violence tied to illegal immigration. Officials have warned visitors to Arizona to beware of heavily armed drug smugglers and human traffickers.

It's no wonder A majority of Americans support Arizona's new law.

Here’s my question to you: Should the federal government sue Arizona over its new immigration law?

Interested to know which ones made it on air?


Filed under: Government • Immigration