MuskogeePhoenix.com, Muskogee, OK

Opinion

March 26, 2014

THE PEOPLE SPEAK - Rich, corporations feel entitled to tax breaks

As the United States struggles with a massive budget deficit, the question is: What should be done about it? Obviously no one wants to pay higher taxes, but to either stop spending, or have more money coming in is the only way to correct the problem.

Democrats would like to raise taxes on the extremely rich, but this has been totally blocked by the Republicans, who would rather cut the spending that helps the poor. It seems rather anti-Christian to support the rich while the poor suffer, but that is the way the current Republicans act.

The question is, who’s right? One thing for sure is that the tax rate for the rich is strikingly low compared to the rates of the past century. During the ’50s and early ’60s, the top rates for the rich was over 90 percent and the economy, the middle class, and the stock market boomed.

Americans who earn millions of dollars per year pay the same rate as those making about $400,000 as progressive taxation stops at that point. When all the income is figured in, the richest 10 percent pay only about 20 percent in taxes. Except for the fact that much of their money is hidden in overseas accounts, for which they pay no taxes.

Corporations also feel entitled to lower taxes, and have cut their income tax rate in half in just the last 10 years. These entitlements for the super rich mean cuts in safety programs for children, women, retirees, and low income families. It threatens Social Security, infrastructure repair, education, and job creation.

The more the super rich take from us, the greater their belief that they are entitled to the wealth that we all helped to create, and this is totally supported by the current Republicans.

GEORGE

KESSELRING

Muskogee

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