Tag Archives: tax policy

Taxing the rich: sensible

President Biden’s decision to seek greater tax loads for wealthy Americans makes sense on a couple of levels.

He unveiled his plan while announcing a proposed $7 trillion federal budget he said would reduce the deficit by $3 trillion over the next decade. Biden wants to protect programs such as Medicare, Social Security, Medicaid and the Affordable Care Act. As an elderly American patriot, I welcome the president’s initiative.

Taxing those who make more than 400 grand annually? That makes sense too.

It does because even by increasing the tax burden by a few percentage points will not make rich Americans “un-rich.” They’ll still be wealthy beyond belief. They just will have to pay more to finance the government from which they seek favors.

Billionaires will still be billionaires.

Moreover, it makes no sense to realize that working-class Americans pay more per capita in taxes than rich folks.

Spare me the argument that taxing rich Americans will harm the economy. It damn sure won’t! We’re all in this together, isn’t that right? So, make the rich men and women pay their fair share of taxes and — so help me! — find some method of closing those damn loopholes through which they avoid paying taxes.


Tax matters become our business


You’re running for president of the United States.

It’s a grueling event. It has required candidates to do things they dislike doing, but they do them anyway.

One of those things is to reveal to the public they intend to govern how much they pay in taxes to the federal government. Presidential candidates have been doing it since 1976. It’s not required by law; candidates just do it. Some do so more willingly than others.

So, when a media representative asks the candidate about his or her tax rate, how much they pay in taxes, how is the candidate supposed to respond?

Donald J. Trump got that question this morning from George Stephanopoulos on ABC-TV’s “Good Morning America.” Trump’s response? “It’s none of your business.”

Well, actually it is.

The man now presumed to be the Republican Party’s next presidential nominee is throwing out tax plans left and right. He’s back-tracking, switching his views, telling us what he intends to do — before he changes his mind — about how much money he wants the rest of us to pay in taxes.

Trump has been less-than-forthcoming on his tax returns. He won’t release them for public review, contending that the Internal Revenue Service is in the midst of an audit. IRS officials respond with, “So what?” He still can release the returns.

Trump won’t do it.

Then he tells a network news anchor that the information is “none of your business.”


It is absolutely our business to know how much a man who wants to be president pays in taxes to the government — our government, the one financed by American taxpayers.

Of course, the president doesn’t set tax policy by himself — or herself. Tax legislation originates in the House of Representatives. As the saying goes, “The president proposes, Congress disposes.”

Still, if a president is going to propose tax policy to Congress — which might then become law that has a direct impact on every American’s household income — then the public has a right to know whether the presidential candidate is paying his or her fair share.

Who determines what is fair? We do.


How about sharing the credit?

Grover Norquist just cracks me up.

The anti-tax Republican activist wants the GOP to seize the credit for the nation’s economic recovery from those pesky Democrats, led by President Barack Obama.

It’s Republican policies, not Democratic policies, that have ignited the nation’s recovery from near-disaster, Norquist told The Huffington Post.


Hey, here’s an idea, Mr. Tax Cutter: How about sharing it?

In a way, Norquist does make a salient point — more or less — about Republicans’ insistence that the economy still stinks. He says they should shut their trap about that and take credit for the good news we’re hearing.

According to The Huffington Post: “‘There were outside voices advising Republicans on what to do. They missed both calls,’ Norquist said in an interview with The Huffington Post. ‘I object as much as some of the guys on the right who are never satisfied in the moment. I’m never satisfied over time. But they go, ‘This was a disaster.’ No it wasn’t. We played our hand as well as you could and better than we had any reason to expect we would be able to.'”

If my own memory remains intact, I do believe the president gave in to Republican demands to keep the tax cuts enacted during the Bush administration. He could have dug in his heels and demanded repeal of the “Bush tax cuts” for business and big income earners, but he didn’t.

As some have noted as well, the oil boom has driven the nation’s economic revival. Nothing else. It’s just oil, they say. Presidential policies have nothing to do with that.

If that’s the case, then do Republican congressional policies play a role here? I’m thinking, well, maybe not.

Whatever the case, the nation’s economic health is far better than it was when Barack Obama took the presidential oath in January 2009. He pushed through a bold stimulus package with the help of a Democratic-controlled Congress. The auto industry bounced back, thanks to that stimulus — and then repaid the federal Treasury in full.

The labor market has been restored to where it was prior to the crash of late 2008.

Who deserves credit? I’ve been glad to give the president some of the credit. I’ll give credit as well to that other co-equal branch of government, Congress.

The only problem with Norquist’s call for less belly-aching and more bragging is that the GOP will have to concede that its Democratic “friends” had a hand in it as well.

Didn’t they?