Hoarding fat cats?
This is in reply to Nino Green’s letter, Wealth tax dated March 20th. He argues that billionaires in the United States are hoarding monies (monies that they worked for and earned.) He states that they are not ethically justified in their actions by keeping the wealth that they created. First, the billionaires are subject to paying federal taxes to the government on what they earn. Second, they help create jobs through enterprises, manufacturing and trade with other countries, thus adding to the economy. Third, these billionaires give monies to support charitable foundations thereby giving to the needy and also providing employment. A wealth tax as proposed would go to the federal government to be spent as our government decided. Mr. Green does paint a lovely picture. He was almost able to camouflage a socialistic ideology, it’s called “redistribution of wealth.” No thank you. Not here.