Las Vegas Sun

August 15, 2022

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Letter to the editor:

Let’s get serious about shared sacrifice in U.S.

Republicans and, in particular, the Tea Party Republicans, are adamant about no increases in taxes. No way will they consider raising taxes back to the top rate of 39 percent, the pre-George W. Bush level. Considering the fact that the rich don’t pay anywhere close to 35 percent now, why should they be opposed to a 39 percent level that the rich would never be close to paying?

Warren Buffett, in an op-ed piece in Monday’s New York Times, wrote that last year he paid 17.4 percent of his taxable income, which amounted to more than $6 million. Although he said that what he paid was a lot, he noted that it actually was the lowest percentage paid among the 20 people in his office. He further said that the rich have been coddled long enough by a billionaire-friendly Congress and that higher taxes would not have an effect on investments.

The IRS reported recently that 1,470 millionaires and billionaires did not pay a penny in taxes off their 2009 returns. Another comment made by Mr. Buffett was that it is time for our government to get serious about shared sacrifice.

He is clearly willing to back up his words with action that digs into his own wallet. The question is whether Congress and the “rich” are as willing, or is shared sacrifice just a “middle class” idea?

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