Something is wrong with system
To The Editor:
Chuck Freas, my golf buddy, I think you might be looking at the Occupy Wall Street movement the wrong way. The statistic you quote that 47 percent of all taxpayers that will not pay any federal income tax seems to me to support the fact that something is wrong with our system. Some of the 47 percent will not pay as they are so wealthy they have good CPAs but the majority will not pay as they are making so little money as to not qualify.
I would never want to be in a position where I made so little that I did not have to pay federal taxes. As far as the top 10 percent of earners paying 73 percent of the income tax, in my view that again supports the Occupy Wall Street concerns. If the rich keep on occupying more of the financial resources of this county the poor and one percent will make up the bookends of our society and the middle class will become as rare as they are in many South American countries. Not something for the USA to emulate.
In addition, I think the Occupy Wall Street movement is very concerned about how the rich keep on getting richer at the expense of all the “others.” They are the ones that have access to our political hierarchy and it is very unfortunate that our democracy has ventured into the pay-to-play mode.
That being a fact (flaw) in our system, the wealthy have the loopholes and lawmakers on their side. Thus the unfairness and hopelessness that has lead to the Occupy Wall Street movement and those of us that support it.
I truly think that to characterize the movement from a political (Democrat, Republican, Independent) point of view is also unproductive. This problem is or should not be one that is influenced by party affiliation.
Seems to me that the issue is really disposable income, meaning what is left over when you pay all your necessary bills. For the 47 percent it is minimal and for the one percent it is extraordinary. So a slight increase in the tax rate of the “one percent” is not going to be a burden for them at all.
Hope we can still play golf in the spring.