Sharing the Burden of War and Taxes (Op-ed)
Original publication: The Boston Globe
Date of publication: April 9, 2007
Sharing the Burden of War and Taxes (Op-ed)
By David Abromowitz and Joan Ruttenberg | April 9, 2007
Excerpt: In past wars, those who could most afford to pay did so. During World War II, marginal tax rates on the wealthy reached over 90 percent. During wars in Korea and Vietnam, and throughout the Cold War, the most fortunate among us contributed almost as heavily to the national effort, paying at marginal rates of over 50 percent. Economic sacrifices were shared.
But now the Bush White House insists that those making $300,000 and up -- already paying the lowest tax rates in 50 years -- needn't bother to pay a penny more toward national needs. This, despite stepped-up national security needs, active wars in both Afghanistan and Iraq, and the devastation of Hurricane Katrina.
In fact, since top tax rates were cut to 35 percent in 2003, millions of fortunate families, including our family, now pay many thousands of dollars less per year in taxes than we did before Sept. 11. Where's the sacrifice in that? (You can estimate your own savings using the Responsible Wealth online tax cut calculator at responsiblewealth.org.)
Read the full story in The Boston Globe
