LETTER: Fair share?
Does anyone with any economic sense believe overtaxing the rich will bring down the national debt? In mid-2024, the debt was approximately $34 trillion, and the combined wealth of all billionaires in the United States was $5.4 trillion, up from $4.5 trillion the previous year. That means that all billionaires in the United States made a combined $900 billion that year. Even if the government could get half of that, it would come down to a mere $450 billion. If history tells us anything, that extra money would most likely be spent foolishly. This is another argument in support of term limits.
No. It is the 80 percent of us who are paying the bills. The rich are already paying their fair share. We benefit from them in many ways. The politicians are using the rich to divert attention from their reckless spending habits. Don’t let them fool you.
