My daughter pointed this out to me, and I wanted to post it along with my wholehearted endorsement...
Reed Hastings had an editorial in the New York Times yesterday entitled Please Raise My Taxes
. It starts
I'm the chief executive of a publicly traded company and, like my peers, I'm very highly paid. The difference between salaries like mine and those of average Americans creates a lot of tension, and I'd like to offer a suggestion. President Obama should celebrate our success, rather than trying to shame us or cap our pay. But he should also take half of our huge earnings in taxes, instead of the current one-third.
Then, the next time a chief executive earns an eye-popping amount of money, we can cheer that half of it is going to pay for our soldiers, schools and security. Higher taxes on huge pay days can finance opportunity for the next generation of Americans.
He goes on to argue that it hasn't worked, and won't work, to try to cap the amount CEOs make, because those high compensation numbers are how you attract talent, but that instead of capping it, you should tax it heavily, or at least more heavily.
Now, I don't make that kind of money, but I do make a lot more than the average American. I have a successful business and lots and lots of customers. Frankly, I am sick of the incessant calls to lower my taxes. Part of success is responsibility, and I feel a responsibility to those around me who are less fortunate. I believe that while government isn't perfect, a government of the people, by the people and for the people can do a great deal of good, and that good work doesn't come cheap.
So, raise my taxes, please. I won't be less motivated. In fact, I'll be motivated to make even more to make up for the additional tax. If you don't believe it, look at iFidelity, which I created because I thought (wrongly, as it turns out) that my business would slow considerably in the current economic crisis.
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