We would see a minimal tax increase -- from 35% to 39.6%, a rate still far lower than the one under President Reagan

-- but the increased revenue would raise an estimated $43 billion per year.
The group’s founders include Chuck Collins, who inherited some of the Oscar Mayer meat fortune and who has long been involved in agitating on income-inequality issues. He may be best known for co-authoring the 2003 book "Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes" with Bill Gates Sr. The book made the case for retaining the federal estate tax.
Wealth for the Common Good on Tuesday sent its request to President Obama and to House and Senate leaders, including a petition with more than 1,000 signatures.