Wednesday, November 21, 2012

A Tax Bracket Proposal


I've had this thought for weeks but I have a horrible time finding the time to write these days. I miss it. I miss my readers. I'm working on it.

All my readers are aware of my fundamental faith in the ability of government to do good. We are all too willing to point out the many problems of government and its failures. But at the end of the day, we are all left with the simple and undeniable fact: every country in the world has a government. They are essential. The only thing left to fight about is how well run they will be.

To wit: there is no "business" more important than the people's business.

You can view the U.S. marginal tax rates here. The highest bracket is currently 35% for people that make $388,351 or above. The current salary of a member of U.S. House of Representatives or Senate is $174,000. The current pay of the President of the United States is $400,000.

My tax proposal is simple. If you make more than a member of Congress, you get put in the 35% bracket. If you make more than the President your tax rate should be 40%. If you make double what the President makes, your tax rate would be 50%. Triple takes you to 60%. I really don't have a problem with going all the way up to a 90% tax rate for those that steal "earn" inordinate amounts of money -- just like it used to be.

I should also say that I am all for paying members of Congress and the President salaries that are commensurate with their responsibilities.

Two other things before I go. A#1 -- Democrats won the battle but the war isn't over. Don't go to sleep politically and wait for the next Presidential election to get involved. That's why the Republicans are still in charge of the House -- they stayed engaged and won in 2010. The Democrats thought their overwhelming victory in 2008 meant the tide had turned. That the fight was over. Don't make the same mistake twice.

The second thing is, the battle is winnable. Americans can believe in government again. They can believe in themselves and their ability to govern themselves. They can even believe in taxes again. And you don't just have to take my word for it. Take a listen to this segment on Marketplace. Expect to hear more stories like it -- stories that, just a few months ago, were unthinkable. Public opinion does change. And you can help change it. Get involved. Stay engaged.

Don Brown
November 21, 2012

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