Inside Wealth: Taxes
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While Washington bickers over whether to raise taxes on the rich, the truth is, taxes on the richest Americans are already at their highest in decades.
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What is President Obama doing to make the wealthy feel as though they rightfully owe taxes to the government? CNBC's Robert Frank has the details. Tony Fratto of Hamilton Place Strategies, and Keith Boykin, former Clinton White House aide, weigh in.
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CNBC's Robert Frank reports on an increasing number of wealthy who are looking to sell their homes quickly in case taxes go up next year.
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A survey from GlobeScan found that 58 percent of Americans say the rich deserve their wealth, and also the number of people who think the wealthy should pay more taxes has fallen in recent years.
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NBC's Andrea Mitchell has the story on Denise Rich renouncing American citizenship as a way around the IRS. Representative Cathy McMorris Rodgers (R-WA), shares her opinions. "This is human behavior, if you raise taxes, people are going to try to find areas and locations to relocate themselves and their businesses where the tax burden is a lot less," she says.
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60% of millionaires are likely to vote for Mitt Romney, reports CNBC's Robert Frank.
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IRS reports show that the top 400 earners saw their incomes drop at much steeper rates than the rest of the population from 2007 to 2009, reports CNBC's Robert Frank.
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Frank joined CNBC in 2012 as a reporter and editor. He is a leading journalistic authority on the American wealthy.