Tuesday, September 14, 2010

Invest in America (re-thinking taxes)

So here is the situation: We are muddling along in an economy that could generously be called sluggish, and nobody is feeling generous right now. We are over 13 trillion dollars in debt. Civil Engineers tell us that it will take 2.2 trillion dollars to repair our basic infrastructure. The first boomers are retiring. Uncle Sam needs a boatload of money, and btw, we're gonna need a bigger boat.

What do we do? We raise revenue. Yes, that means raising taxes. Not too much, and not on most Americans. They are already scheduled to rise back to Clinton era levels. But during these tough economic times, we should keep the lower rates on incomes below $250,000. Why tax the rich? As Willie Sutton said, "That's where the money is." But let us not think about it as taxes. It is an investment. True, the government won't be paying them the return on the investment, but they will benefit by our having a stronger economy.

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