Some millionaires want to end tax cuts that benefit them

June 7, 2011 2:14:03 AM PDT
Today marks the 10th anniversary that the Bush era tax cuts were signed into law, and millionaire Paul Egerman is one of a group that says it's time to put an end to them for some people. The wealthy businessman who founded the medical transcription company eScription is part of a group of millionaires who think Bush era tax cuts should stop benefiting the wealthy.

Egerman says putting an end to the tax breaks is one way to help trim the deficit. He says if the country is really broke then it can't afford to give tax cuts to millionaires.

Republicans have said that any move to raise taxes as part of the effort to trim the deficit is a nonstarter.