Opinion: Rich people opposed to the Republican tax bill should donate their windfall to charity
To the editor: Here’s a suggestion for the wealthy letter writer from Thousand Oaks who says he has everything that he materially needs and is upset that he will be getting getting an $8,000 decrease in federal taxes, which he believes is disgraceful morally. (“GOP tax bill: Who are the deficit hawks now?” Readers React, Dec. 18)
Rather than investing the money in additional stocks, why doesn’t he donate all or some of it to his favorite charities, which (unlike the federal government) can assure him that his money will be directed to the causes closest to his heart?
At the new 24% marginal bracket under the tax bill, the donations would be fully deductible, which means he could actually donate almost $10,000 with that decrease. As an added bonus, I think he will find that he gets a wonderful feeling from helping more directly.
Randy Cole, Redondo Beach
To the editor: I applaud the letter writer from Thousand Oaks for being willing to pay his taxes because he is well able to afford them.
I have never understood why people with more money than they can possibly spend resent paying taxes, for the good and welfare of all, when they are still left with more money than most of us will see in a lifetime. This man represents the very best — he takes his obligation to the nation seriously.
Julie May, Los Angeles
To the editor: A letter writer from Incline Village, Nev., finds it “fun” to see liberals oppose the deficit now after being unconcerned during Barack Obama’s presidency. Seeing this as a contradiction is a crude but common misunderstanding.
When the economy is in a recession, like Obama inherited from the Republicans, liberals do indeed want deficits: Lower taxes and especially more government spending will get money into the pockets of people who will spend it.
But when the economy is doing well, as it is now, the risk is overheating and inflation. We want higher taxes, less government spending, deficit reduction and debt payoff if possible. For all his faults, Bill Clinton was headed that way at the end of his presidency.
It seems that Republicans today want the reverse: Slow the economy when it’s doing badly but speed it up if it’s doing well. There were frantic Republican warnings that the modest Obama stimulus would lead to high inflation. It didn’t; if anything, inflation stayed too low.
Let’s see what happens now.
Allan Stewart-Oaten, Santa Barbara
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