In an op-ed published at CNN.com this Friday, former partner at a leading global private equity firm John MacIntosh writes that the 1% did "grotesquely well" during former President Donald Trump's time in the White House.
"This windfall happened during a time when our democracy faced, in Trump, an existential threat, and when millions of Americans were devastated by Covid-19 while we were safely ensconced in second homes doing mostly non-essential jobs," MacIntosh writes.
He asks if Democrats will have the courage to recognize that the nation needs the cash of the 1% "to repair our degraded social relationships and rebuild some semblance of national solidarity."
"The next four years are critically important to the future of our nation and our world," he writes. "The Democratic coalition that defeated Trump is fragile and could fall apart if its wealthiest members balk when asked to bear the financial costs of the economic programs required to keep it together. Let's hope we prove up to the challenge of putting our money where our mouths have been. The alternative would be a disaster."
If Biden raises taxes on the wealthy as MacIntosh wishes, he says the wealthy shouldn't take it personally, but they should recognize that the deck has been stacked in their favor.
Read the full op-ed over at CNN.com.