To the editor:
Congressional Democrats are working on a “reconciliation” bill that would extend the generous tax credit for children, provide for paid family leave, …
To the editor:
Congressional Democrats are working on a “reconciliation” bill that would extend the generous tax credit for children, provide for paid family leave, subsidize community college education, expand Medicare and Medicaid benefits, and confront climate change.
Commendably, they are proposing to pay for the legislation by increasing taxes on super wealthy individuals and corporations. The radical Republican party, predictably, is unified in opposition.
Columnist Henry Olsen of the Washington Post articulates some of their primary objections ( 9/14/21). This one, though familiar, invites skepticism: the hikes would “likely accelerate migration from high-tax states to low-tax states. Income tax-free states like Wyoming and Alaska “offer beautiful environments.” Texas and Florida promise “year round warmth.”
Big buck emigrants to Wyoming and Alaska are not likely to find many world-class museums, opera houses, theaters, stadiums, or libraries to which their honored names could be attached after generous donations. They’ll scramble to locate five star restaurants for their power lunches with other super wealthy scions in their network, whose numbers would be far fewer.
Many localities in summertime and fall receive Floridians who flee their state to escape the oppressive humidity. Texas? Of anti-choice, anti-voting rights, pro-guns, secession? That culture might not sit well with at least some billionaires, especially when they are women.
Life is not all about taxes for many billionaires. And the claim that higher taxes remove their incentives to work? Most of these people’s lives have been furiously committed to making as much money as they can. Are they going to STOP because their assets have been nicked a bit with higher taxes? That stretches credibility.
Polls show that the Democrats’ bill is solidly popular. Americans like the idea of the fortunate super wealthy and corporations giving their share to improve the everyday lives of parents, children, workers, students, and seniors… all of us.