You are viewing an old blog post! That means that links will be broken, and images may be missing.

October 17, 2011

How the Rich Can Pay Their Fair Share

Quote of the Day: “I sincerely join… in abjuring all political connection with every foreign power; and though I cordially wish well to the progress of liberty in all nations, and would forever give it the weight of our countenance, yet they are not to be touched without contamination from their other bad principles. Commerce with all nations, alliance with none, should be our motto.” – Thomas Jefferson

The Subject heading of this Dispatch may surprise you. Does DownsizeDC.org want to raise taxes?

Not at all. We have a BETTER way to get the rich to pay their “fair share” — by bringing the troops home from overseas bases.

This letter I sent to Congress explains why. You may borrow from or copy it…

The President and his supporters have called on “the rich” to pay their fair share. As Ezra Klein has reported, this could raise tax revenue by somewhere between $400 billion to $1 trillion over ten years. http://tinyurl.com/3v5plek

I AGREE that the rich should pay their fair share, but not in the way the President has in mind. In fact, raising taxes HURTS EVERYONE…

As a percentage of their earnings, the rich spend less of their money, and instead save and invest more. It’s not hard to see what would happen: Raising taxes on the wealthy means fewer available funds for capital investment.

And lowered capital investment means fewer innovations and fewer jobs. A tax on America’s wealthy means a less-prosperous future.

I have a better idea. Let the rich of OTHER NATIONS pay their fair share. That is, let them pay their fair share of THEIR OWN DEFENSE!

  • The U.S. has around 865 overseas bases, NOT counting Iraq and Afghanistan
  • They cost $102 billion per year, according to Miriam Pemberton of the Institute for Policy Studies http://tinyurl.com/aqq4zu
  • The bulk of them are in wealthy countries such as Germany, South Korea, and Japan that are capable of defending themselves
  • But we also have no business stationing troops to help defend the wealthy, corrupt dictators of impoverished countries
  • Bringing our troops home will force wealthy nations, and dictators, to pay the full cost of their own defense

The savings to the U.S. could well be over $1 trillion over ten years, more money than “taxing the rich” would raise. And, bringing the troops home will be in our national interest…

  • The U.S. will have better relations with other countries when we are no longer viewed as an aggressor or occupier
  • We will incur less resentment from the local populations upset with the pollution and crime associated with U.S. bases
  • Money spent by our service personnel and their families overseas will instead be spent in America
  • And bringing the troops home will make a meaningful dent in our budget deficits — more efficient than taxing the rich

It is politically cost-free for you to support foreign base closings, especially from rich nations and corrupt dictatorships. This should be low-hanging fruit for Congress.

Please support legislation to bring the troops home!

END LETTER

You can send your letter using DownsizeDC.org’s Educate the Powerful system.

If you believe your friends like this idea, tell them about Downsize DC!

Jim Babka
President
DownsizeDC.org

If your comment is off-topic for this post, please email us at feedback@downsizedc.org

Post a Comment

Your email is never published nor shared. Required fields are marked *

*
*
 
© 2008–2018 DownsizeDC.org