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Wednesday, October 21, 2009

Any Bonds Today

How much better off the country would be today if we had adopted similar efforts to pay for our wars in Iraq and Afghanistan (Any Bonds Today, New York Times, October 10, 2009:A18).

By my calculations (sent to every US Senator in 2004, finally published in March 2008) a combination of a tax surcharge of 5% and a progressive forced savings regime (postwar credits: 2% for those with incomes between $50,000 and $100,000) with progressively high percentages until a millionaire was paying $16% on the amount of income over $1 million) would have paid for a large fraction of the war and kept our debt within manageable limits.

Had these suggestions been followed, we would have a much easier time now in combating the current employment depression.

ps link to publication:

(and yes I did send it to your op-ed page which showed no interest.)

Sent to New York Times

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