View Full Version : RP Should Use This in the Debates: How the Rich Can Pay Their Fair Share

10-18-2011, 03:27 PM

The President and his supporters have called on "the rich" to pay their fair share. As Ezra Klein has reported, this could raise tax revenue by somewhere between $400 billion to $1 trillion over ten years. http://tinyurl.com/3v5plek

I AGREE that the rich should pay their fair share, but not in the way the President has in mind. In fact, raising taxes HURTS EVERYONE...

As a percentage of their earnings, the rich spend less of their money, and instead save and invest more. It's not hard to see what would happen: Raising taxes on the wealthy means fewer available funds for capital investment.

And lowered capital investment means fewer innovations and fewer jobs. A tax on America's wealthy means a less-prosperous future.

I have a better idea. Let the rich of OTHER NATIONS pay their fair share. That is, let them pay their fair share of THEIR OWN DEFENSE!

The U.S. has around 865 overseas bases, NOT counting Iraq and Afghanistan
They cost $102 billion per year, according to Miriam Pemberton of the Institute for Policy Studies http://tinyurl.com/aqq4zu
The bulk of them are in wealthy countries such as Germany, South Korea, and Japan that are capable of defending themselves
But we also have no business stationing troops to help defend the wealthy, corrupt dictators of impoverished countries
Bringing our troops home will force wealthy nations, and dictators, to pay the full cost of their own defense

The savings to the U.S. could well be over $1 trillion over ten years, more money than "taxing the rich" would raise. And, bringing the troops home will be in our national interest...

The U.S. will have better relations with other countries when we are no longer viewed as an aggressor or occupier
We will incur less resentment from the local populations upset with the pollution and crime associated with U.S. bases
Money spent by our service personnel and their families overseas will instead be spent in America
And bringing the troops home will make a meaningful dent in our budget deficits -- more efficient than taxing the rich

It is politically cost-free for you to support foreign base closings, especially from rich nations and corrupt dictatorships. This should be low-hanging fruit for Congress.

Please support legislation to bring the troops home!