Wednesday, May 27, 2015

Super-rich

I believe it is time for Republicans to stop saying no new taxes and consider taxing the ultra-rich, that is, those in the top one-tenth of one percent. This small elite group earns 11% of the total income or 1.4 trillion dollars. It is estimated that to repair and bring up to date the infrastructure throughout the country would cost 2 trillion over 5 years. If the super-rich were taxed an additional 35%, this would be enough to cover this cost. The new tax law would sunset in 5 years, after the improvements are in place. This would stimulate the economy and provide good paying jobs. There are 90 million Americans who are eligible for work who are not working. In the long run all of this economic activity would likely return more to the super-rich than they invested.

No comments:

Post a Comment