The liberal duo are among the 19 people - one anonymous - calling for "a moderate wealth tax on the fortunes of the richest one-tenth of the richest 1 percent of Americans - on us".
The extra tax dollars could be used to help curb income equality and to finance innovations to address climate change, they wrote, noting Democratic White House hopefuls Elizabeth Warren, Beto O'Rourke and Pete Buttigieg are among those who support the idea.
US Federal Reserve Chairman Jerome Powell said in May that the US faces a two-fold challenge of facilitating low-income families reaching middle class and ensuring that the middle class enjoy basic economic security.
In recent months, Democrats including Rep. Alexandria Ocasio-Cortez of NY and Sen.
Taxing the super-wealthy "would slow the growing concentration of wealth that undermines the stability and integrity of our republic", the letter said.
Others signing the letter include Louise and Robert Bowditch, Sean Eldridge, Stephen English, Agnes and Catherine Gund, Nick Hanauer, Arnold Hiatt, Regan Pritzker, Justin Rosenstein, Stephen Silberstein, Ian Simmons and Liesel Pritzker Simmons.
Britain Suspends Exports of Crowd Control Equipment to Hong Kong After Protests
But Lam stopped short of protester demands to scrap the bill altogether, saying it would be suspended indefinitely. Xi and Trump have agreed to hold bilateral talks focusing on the US-China trade war during the summit.
Three 6 Mafia's DJ Paul Reacts To Illinois Preparing To Legalize Marijuana
IL is now the eleventh state to legalize recreational use of marijuana, although the drug remains illegal under federal law. It allows residents over the age of 21 to possess 30 grams of marijuana and sets up a regulated retail scheme.
Meryl Streep, Nicole Kidman And More Ready For Musical Movie The Prom
Its Broadway counterpart premiered in October 2018 and has been nominated for six Tony Awards in total including Best Musical. Casting is still reportedly underway for the role of Emma, but so far, this is one impressively eclectic roster of stars.
A wealth tax would help solve the "climate crisis", it would be an "economic victor for America" and it is fair and patriotic, according to the letter. Elizabeth Warren's proposed wealth tax, which targets around 75,000 households with $US50 million or more in assets and promises to raise almost $US3 trillion over 10 years.
A desire to curb the rising concentration of wealth has always been part of the Democrats' core message, but a Republican tax bill in 2017 that delivered the biggest benefits to Americans with the highest incomes reinvigorated the debate. "The kind of moderate tax on the richest 1/10 of 1% that we support just asks us to pay a small wealth tax on the primary source of our wealth as well".
Warren has already proposed a plan to tax 75,000 of the wealthiest families in the country. "It is a key to both addressing our climate crisis, and a more competitive, stronger economy that would better serve millions of Americans".
"Multiple presidential candidates are talking about it, and it is part of the conversation", Pearl said. "But the wealth tax is in our interest as Americans".
The letter identified that fellow billionaire Warren Buffett has said he is taxed at a decrease rate than his secretary.
"The most fortunate should contribute more".
According to a February report from the Washington Post, 61 per cent of respondents in a USA poll backed the idea of a wealth tax, with the article suggesting the policy was a rising trend among U.S. voters.