Home » Opinion »  Michael Pakaluk »  Your fair share of taxes

Your fair share of taxes


Help us expand our reach! Please share this article

"The wealthy should pay more of their fair share of taxes!" But how much more, and by what standard? The wealthiest tenth of Americans pay about 30 percent of their earnings in combined federal, state, property, excise and sales taxes. Would 32 percent all of sudden be fair? But if so, then why not 28 percent?

One might be secretly supposing that they should pay taxes until they have no more money than anyone else, which is envy, or sorrow at another's good. Like other sins, envy accomplishes nothing. Our problems cannot be solved by taking. Take away completely the combined net worth of Bill Gates and Warren Buffett ($100 billion), and you can run the government for just 10 more days (but probably fewer days in the long run, because those gentlemen will be unable to pay future taxes).

Or take away all the money of all the high-net worth individuals in the wealthiest cities in the U.S. and, with this one-time scheme, you can run the Federal government for only a year; and in doing so you would have taken away the earnings, too, of those who would have been employed through their spending of that money.

Help us expand our reach! Please share this article

Submit a Letter to the Editor