Our sinful economy.I want to express my appreciation for Matthew Rothschild's thoughtful analysis of our economy ("Our Sinful Economy," Comment, January issue). Thank you for honorably contributing to the historic argument of our populist ancestors who for decades have been calling for an equitable approach to distributing our public wealth as well as advancing the cause for just taxation policies. Rothschild's commentary is a necessary balm balm, name for any balsam resin and for several plants, e.g., the bee balm. balm Any of several fragrant herbs of the mint family, particularly Melissa officinalis (balm gentle, or lemon balm), cultivated in temperate climates for its fragrant for the sick soul of our economy and underscores the reason I have been subscribing to The Progressive for more than twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. . Gary Richards Auburn, Massachusetts I just finished reading the Editor's Note and "Our Sinful Economy" in the January issue. Congratulations on doing such a fine job. It should be required reading for all. Keep up the good work. Belle Richards Helena, Montana In response to Rothschild's "Our Sinful Economy," I offer the following for consideration. Rothschild states he "believes in taxing unearned income Unearned Income Any income that comes from investments and other sources unrelated to employment services. Notes: Examples of unearned income include interest from a savings account, bond interest, tips, alimony, and dividends from stock. at higher rates than earned income Sources of money derived from the labor, professional service, or entrepreneurship of an individual taxpayer as opposed to funds generated by investments, dividends, and interest. ." As a progressive, I find that statement poorly thought out. It reeks of class warfare and implies that only rich people earn dividends. As a thirty-seven-year-old professional with a master's degree obtained through hard work and being paid off by loans, I live below my means and am able to save the maximum amount tax free and have some money left over to invest. This is my choice. I purchase stocks to enable myself to have a better future. I give up a nicer car and a larger home in order to do this. The income I receive is hardly "unearned." A progressive tax should be raised on income, earnings, and dividends only at a certain point. (Granted, if I did not have a student loan payment, I could save even more.) The amount of federal tax-free income tax-free income The income received but not subject to income taxes. For example, interest from most municipal bonds is free of federal income taxes and often from state and local income taxes as well. Compare tax-deferred income, tax-sheltered income. should be raised to reflect a living wage versus living just above the poverty level. It would be fair to everyone because we would all receive that amount tax free. Playing the class card will not do much to bring more voters to our side. Steve Karas Karas may refer to:
Forest Hills, Pennsylvania Forest Hills is a borough in Allegheny County, Pennsylvania, United States. The population was 6,831 at the 2000 census. Geography Forest Hills is located at (40.421918, -79.851872)GR1. |
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