Buckley on Rich Paying Taxes
Buckley writes that Sen. Albert Gore Jr.’s (D-Tenn.) proposal to increase tax rates for the higher bracket income earners will just force the wealthy back into tax shelters. Buckley’s point is valid, but the wealthy are already back into tax shelters or sitting on their capital due to the high capital gains tax rate. The capital of America is now hostage to high capital gains taxes and Gore’s proposal will only accelerate America’s continuing decline in the world economy. The Republican leadership rolled over and played dead on the need to reduce the capital gains tax rate.
If Republicans do not vigorously oppose the tax-and-spend policies of the Democrats and also provide better stewardship over taxpayer dollars in the conduct of their own offices, there will be little prosperity for future generations of Americans no matter what their party affiliation.
RONALD L. RINDGE
Agoura
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