Unfair tax burdens mean wealthy should pay more
In response to Greg Oerter, I agree that everyone should pay taxes, especially the millionaires who have seen their marginal tax rate fall from 91 percent under President Dwight Eisenhower (a Republican) down to 35 percent today.
Most of the wealthy in America only pay a 15 percent capital gains rate, since the majority of their income is derived from investments rather than working. That’s why billionaire Warren Buffet pays taxes at a 17 percent rate, while his staff pay in the 30 percent to 35 percent range. That, of course, is what now passes for fair.
In the mean time, there is a rapidly growing segment of the population who are not paying federal income taxes because they are earning poverty-level wages for their work. And every day big business is coming up with more ways to decrease the incomes of Americans who work for a living.
So, why shouldn’t we ask people or corporatioms to toss a little extra into the pot? Should we let our infrastructure collaspe and eliminate environmental regulations so the rich don’t have to pay their fair share of taxes?
United we stand, divided we fall. As a country we are only as strong as the weakest and poorest person among us.