Last week, National Public Radio had a segment about a letter (and video You Tube Video) to our leaders from The Patriotic Millionaires. Given my professional past, anything about taxes piques my interest. I remember years ago reading The Rape of the Taxpayer where I got an understanding of how tax policy can shape social policy.
It also took me back to my September 2009 blog where I hadn’t thought about the tax side of things. “It got me to thinking of how our money beliefs and values have caused an ever widening gap between those who have and those who have not. That gap has grown so that at times it seems impossible to bridge the gap. The two sides believe the opposite of each other and can’t even begin to understand those on the other side.
One side believes that nothing good comes with money—while across the gap they believe if you don’t have money, you’re no good. One side believes you did something “bad” to get money, and the other side believes if you just worked or tried harder you wouldn’t be in the financial mess you’re in. So, this gap between the “haves” and “have-nots” gets bigger and bigger based on baseless “truths” and unexamined beliefs.”
The Patriotic Millionaires solution to this widening gap is; please raise taxes on individuals earning more than a million dollars. I don’t remember the exact figures quoted but by taxing these individuals that are less than 1% of the population, they would contribute a gazillion dollars to our ever-growing deficit. Seems like something to seriously think about.
But (there’s always a but) there are other viewpoints. Just google Patriotic Millionaires and you’ll find lots of commentary. But, I want to know, what do you think?
To tax or not to tax: that is the question!