By Chris Ruh Canoga Park
If it were not for the dire consequences of his kind of thinking, I would have laughed at the assertions made by Steve Breen in his column (“The Inside Scoop on Obama-nomics,” page 4, March 5). Unless and until we get our heads around what taxes are and are not, his views, and those of other(s) in the radical anti-tax camp, will continue to pollute the public discourse on how government ought to be funded and by whom.
Breen asserts that some of the economic policies being espoused by Sen. Obama amount to a system “whereby you punish the Bill Gates’, the Warren Buffets’ and the Oprah Winfrey’s...” Since when is a tax a strictly punitive measure? Paying taxes is an important civic and public obligation. It is a price of citizenship in this great land.
The moguls he cites in his piece (and others of that that 2 percent who own 98 percent of this country) got rich of their own sweat, dedication and enterprise, no doubt. But they also did so in this country, which, through its policies, laws and rights (and often various tax breaks) enabled them to amass such staggering fortunes.
I applaud their success, which embodies the heart of the American dream. Asking them to pay a bit more in taxes, however, is not asking too much. A higher rate of taxation for folks who’ve become billionaires will not, as the likes of Breen often contend, become a disincentive to enterprise. It’s better to pay 38 percent on annual income of, say, $500 million than it is to pay 30 percent on $45,000 per year. One can assume the mogul paying at a higher rate wouldn’t want to trade places with the stiff (a “bottom-feeder” in Breen’s assessment) on a work-a-day salary.
Too many of the richest in this country have found ways to privatize profit but socialize risk. When they make money, it is all theirs. When they end up in the red, the taxpayers are supposed to bail them out.
Finally, Breen chose poorly when picking those he used to personify his point. Bill Gates has often spoken about the need for the wealthy to do more, while Warren Buffet is opposed to repealing the estate tax. And Oprah actually supports Obama in a big way. She either likes being punished or knows a thing or two about civic duty.
Originally published in the Santa Monica Daily Press print edition on March 8, 2008. Read the original PDF.