Saturday, April 4, 2009

Why a Millionaire' Tax?

Everett Herald Reporter Jerry Cornfield asked Sen. Lisa Brown at a Thursday press availability why she would tax millionaire's when they are spending money and contributing to the economy.

The fact of that matter is that those at the top simply don't' pay their share for the benefits of roads, law enforcement, schools and universities. In Washington State, middle-income taxpayers pay 3 and a 1/2 times the percentage of income in taxes than the top 1%. In fact, we have the most regressive tax system in the nation.

Gerald F. Seib writing yesterdays' column in the left-wing Wall Street Journal says that the biggest problem is the income has become skewed in recent years. Median family income actually fell from 2000-2007 while those as the top saw the incomes rise by $250,000.

According to Seib, "A disproportionate share of the income at the top has come from the financial sector, the very sector that has been dragging down the entire economy."

The middle class has been paying too much for too long while those at the top have brought down the nation's strongest economy through speculation and waste.

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