I have re-read Reo Christenson`s guest column about ”America`s gross inequalities” and do not read it as do the letter writers you printed.
I see no punish-the-rich philosophy, nor does he say to confiscate wealth. He did suggest a 50 percent marginal tax rate but did not say on what level of income. I suggest it be on incomes over $1 million a year.
The government debt is nearly $3 trillion. Can middle- income people continue to carry it? The real issue is: Why can`t the really rich pay a higher tax rate to help the middle-income class and future generations?
Just a slightly higher rate, say 35 percent over $500,000 and 50 percent over $1 million, would raise billions. The really rich would still have plenty left over to buy monstrous houses and extra-long yachts, throw million-dollar birthday parties and squirrel away acres of land and bags of jewels.
