Wealth and taxes
EDITOR:
The top 10% of income earners pay 76% of all income taxes. Most billionaire income is unearned and is not taxed or is taxed at a lower rate. Wealth is not taxed. If you could spend $10 million every year, it would take you 100 years to spend a billion dollars. There are several hundred billionaires in the United States. A second billion and a third adds nothing to their quality of life. Much of their wealth is used to influence elected officials and, as in the case of Justices Clarence Thomas and Samuel Alito, members of the Supreme Court. Elon Musk has donated $75 million to Donald Trump’s campaign and has pledged another million dollars per day. Middle and working class voters are being out-bid by the super rich. It is time to tax them out of existence. It can be done without diminishing their quality of life. Until it is done, we will be governed by oligarchs.
Nino Green
Escanaba