As I’ve said, all things equal, I think its not unfair to ask those who earn a tremendous amount of money (e.g. top 0.1%+) to pay a some more in taxes as part of a larger program to reduce the budget deficit. Surely, increasing taxes on “the rich” is not a panacea for our fiscal shortfall – no where close – so anyone who suggests otherwise should and likely can be safely ignored. However, these very same (almost exclusively) liberal rich folk who – like our Exalted Leader President Barack Obama – have been calling on “the rich” to pay “more of their fair share” of taxes should start a trend by voluntarily putting their “hard earned” money where their collective mouth is.
Lucky for them, the Federal Government makes so-doing incredibly easy. In fact, its so easy that all you have to do is fill out this convenient online form, or mail in a check to the Bureau of the Public Debt et voila, You’ve done “more of your fair share” to reduce the National Debt! It’s really as easy as that. While such limousine liberals are at it, they can make sure they don’t take any voluntary deductions on their Federal Income Taxes, or take less than they are entitled to claim. Oh, what’s that? Even our President took full deductions for things like charitable donations? Oh, oh my, such strong Leadership from our Dear Leader In Chief…
If you count yourself among this group of very high earning liberals calling for your financial cohort to pay more, but don’t feel particularly compelled to start a trend, you’re suffering from something we call cognitive dissonance. You believe something (the wealthy can and should pay more (in taxes) to reduce the national debt/budget deficit), but you, being a member of this group, don’t think you should do anything about it, except to flap your lips.
Call me crazy, but I bet if rich liberals start making such voluntary payments to reduce the debt/deficit, it’d go a long way (insofar as anything goes a long way in D.C.) towards disarming conservatives opposing higher taxes on “the rich.” After all, what defense could said conservatives come up with if everyone on the other side of the aisle paid up? “Oh, uh, um, even though we make the same amount of money we’re being steadfast in our belief that when we and our cohort pay more in taxes, the Nation is worse-off?” They may be able to get away with such an economically tenuous claim now, but if democrats were proactive, I think republicans would be hard-pressed not to reach some sort of partial compromise.
Of course I say this with the caveat that I abhor and actively avoid Beltway politicking, so perhaps being a naive optimist, in which case, feel free to ignore this last argument, but not my main one. I see no downside to rich liberals taking some of their own medicine. At the very least, it’d make a dent (albeit a not-enormous one) in the debt/deficit.