Summary
Editor, the Tribune: Richard Thornhill's Dec. 22 letter asked what a "fair share" should be for, I presume, top income tax rates for the most financially blessed. I would suggest a top tax rate of what was in effect before the "Reagan revolution," which was 70 percent. That is when the successful class warfare and 30 years of the "trickle down" theory began. I would also suggest there should not be a special reduced "capital gains" tax, and we do need an effective and fair inheritance tax.
During the past 30 years, the middle class has collapsed from 65 percent to 45 percent. The top 1 percent has increased its share of the national wealth from a range of about 10 to 12 percent to a range of 33 to 40 percent and has enjoyed a 275 percent increase in after-tax income.See the full content of this document
Extract
'Fair Share' Top Tax Rate Should Be 70 Percent
Published figures for wealth distribution s...
See the full content of this document
Sponsored links
