More taxation is not the answer

Posted12/16/2012 5:00 AM

Maureen Yates ("Millionaires can afford tax increases," Dec. 4) tells us that if someone has a lot of money, the government should simply take even more of it in taxes than it is already taking in order to pay for its runaway spending.

Probably the best way to decide if that's "fair" is to ask how much of our out-of-control federal spending the top 1 percent of earners actually pay now? Answer: Almost 40 percent.

The top 1 percent now pays for 40 percent of all federal spending, including defense spending, welfare benefits, foreign aid, education, farm subsidies, "green power" subsidies, justice department spending, the treasury department (including the IRS), the FBI, CIA, etc. etc. -- 40 percent of all of our federal spending!

Think of it: Since the bottom 75 percent of taxpayers pay for only 14 percent of our spending, the top 1 percent pays for almost three times as much of our spending as do three quarters of us taxpayers!

The president and Ms. Yates think this is not "fair"; the "rich" should pay even more. I think it's fair to say that these two are the ones who are very far from fair. The real solution? Rein in the unconscionable spending.

Hans F. Schultz

Arlington Heights

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