Two different, yet related, things caught my eye in a recent weekend edition. First was the Page from the Past. In the Oct. 18, 1963, edition of The Columbian, there was a story about FDR Jr. pitching the administration’s “tax cuts” package to 100 CEOs of the nation’s largest corporations. The president was JFK, a Democrat.
I remember his speech about why tax cuts would bring in more revenue to the federal government. He was more eloquent than I, but his pitch was that the movement of money fuels the economy, hence more money for the government. It was a brilliant idea, lost on today’s Democrats.
The other was Tom Daniels’ letter (“Take close look at taxes,” Our Readers’ Views, Oct. 21), offering his half-baked idea about why Joseph Hamann’s letter about the rich paying “inordinate” taxes was naive. However, according to the IRS, in the tax year 2020, the top 1 percent paid 42.31 percent of federal income taxes, and the top 10 percent paid 73.67 percent. The IRS says everyone benefited from the cuts, but the reason that the wealthy benefited most is because they pay most (by far) of the taxes. Hamann’s letter wasn’t naïve after all.
