Rebalance tax system

For half a century, we've heard politicians talk about cutting our taxes. From Kennedy to Reagan and Bush, Congress has trimmed and cut. But what has been the result?

Middle class taxpayers pay essentially the same percentage of their income in federal taxes as they did in 1960, about 16 percent. Meanwhile, the richest Americans are paying half to two-thirds less than they were 50 years ago.

At the same time, global corporations have made tax dodging a central part of their business model. Between 1998 and 2005, almost two-thirds of profitable U.S. companies had one year when they paid no taxes.

It is time to reverse this tax shift and rebalance the tax system so we all pay our fair share. Congress should vote to extend the tax cuts for the bottom 97 percent of taxpayers. And, at the same time, let tax cuts on incomes over $250,000 expire, as they are set to do, at the end of 2010.

These would be steps in the right direction.

Peter Gaeta

Huntley