Tuesday, May 17, 2011

Time to Raise Taxes on the Idle Rich and Large Corporations

Letter: Raise tax rates on incomes over $250K

Posted: May 15, 2011 - 11:47pm

Editor: Common sense tells me that the more income you have, the faster you pay off your debts. Raising taxes on those making over $250,000 a year is logical. Those who say it would hurt the economy dismiss the fact that the majority of the wealthy contribute nothing to the economy. Do the names LeBron James, Alex Rodriguez, Tom Brady and their ilk ring a bell? How about Tom Cruise, Jennifer Lopez, Kevin Costner,etc.? How many more people, occupations or professions can you think of?

As to small business, most do not earn $250,000 per year. If they did the big banks would loan them the money to expand. Instead of outsourcing jobs, I'd give a tax break for each person a company employed. They, in turn, would be off the unemployment rolls, earning an income and paying taxes.

A win/win situation. Congress should start doing what is best for the country and not what is best for their party or themselves. Let's raise the taxes on those earning more than $250,000. Get rid of the loopholes in the tax codes that benefit Big Business. Let's cut out subsidies for those companies that earn billions in profits. Robbin Hoodlum took from the poor and gave to the rich. Let's cut down on government spending, but be rational about doing it. I am not an economist and would welcome ideas from other concerned citizens

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