Letter: Wealthy should pay fair share
Tuesday, July 12, 2011
The American taxpayers pay for many resources that enhance the earning power of American business, creating a stable and productive environment for businesspeople.
Business benefits from our public schools, our roads, our courts and more. If their businesses do poorly, they shouldn’t be expected to pay back much in the form of taxes. If they do well, they should. But they aren’t paying us — their real anchor investors — back. It’s unpatriotic.
We just keep seeing more tax shelters, tax breaks, and tax loopholes. Some want to put our country’s financial future at risk, using the debt ceiling to push for more cuts to critical government programs — while refusing to consider closing some of the loopholes or raising tax rates on the wealthy (those rates are the lowest in the last 60 years and started about 10 years ago).
Who crashed the stock market, wiped out half of our 401(k)s, took trillions in TARP money, spilled oil in the Gulf of Mexico, gave themselves billions in bonuses, and paid no taxes? And who should pay the price for the consequences of their own actions?