Letters, April 20
Ambrose column on taxing the rich ignores the facts
Jay Ambrose’s opinion Friday tells the same old story: The poor create poverty, while the rich unselfishly make our country great. Unfortunately, his story falls apart in the face of facts:
Despite enormous growth in wealth, many billionaires barely pay taxes. CNBC reports the richest 400 Americans paid an average of 8.2% in federal income tax, while the working class have taxes deducted out of their wages, plus Medicare, FICA, and state income tax.
The federal income tax was created to be progressive, with the rich paying a higher rate, but the present tax code benefits the wealthy, providing enormous tax shelter benefits and loopholes unavailable to average working people.
The U.S. ranks 23rd in wealth equity worldwide.
Household wealth held by the top 1% nearly doubled from the 1980s to today, as the top 1% enjoy nearly twice as large a share of the nation’s wealth as the bottom 90%.
Despite all-time high 2018 profits, corporate tax revenues fell by $92 billion (31%), thanks to the 2017 Tax Act that reduced the rate from 35% to 21%, the lowest in 80 years. Of the Fortune 500, 55 companies paid zero.
Who will cover that $92 billion annual loss?
Children’s Chorus seeks alums for anniversary
The Rogue Valley Children’s Chorus is celebrating its 40th anniversary with a concert at 2 p.m. Saturday, May 21, 00, at the Craterian.
We would like to invite alums of the past 40 years to join us, but to do that, we are going to need community help. If you know of a child who sang with the group, particularly 1982-2002, please let us know how to reach them. You are also encouraged to use social media to spread the news of the event. The Youth Choruses will perform a lovely concert, and there will be time for the alums to join in. Send any information to firstname.lastname@example.org.
Doris Sjolund, founding director