Seattle RW member Speaks Up on Debt Debate

July 28, 2011

Tracy Lake can't believe that anyone would be willing to risk the U.S. credit rating.

TRACY LAKE: It's probably the most valued asset we have in a global economy, is the faith in credit of our ability to pay something back. And the fact that we've already purchased goods and services, and now we're deciding whether or not we're going to pay for them is just plain wrong.

KASTE: Lake is a real estate developer and she's worried that a downgrade would raise interest rates and make it harder to get the loans she needs to run her business. Like Carender, she's politically active but she's part of Responsible Wealth, an organization of well-to-do types that want to pay higher taxes.

LAKE: The only right and moral thing is to tax the wealthy, wealthier part of our population.

KASTE: Be completely honest. If you had to pay a higher tax rate, wouldn't that suppress you're productivity as a company, or your ability to employ people?

LAKE: Yes, it would. But I look at it this way: I am where I am because of opportunities afforded me because of our economic structure, because of our culture, because of the freedom and access to education. Wealthy Americans owe this due bill back to our country for the opportunity to earn great sums of money.

Listen to the story and read the full transcript on NPR.org

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