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Wednesday, October 8, 2014

The next war: Financing

Linda Bilmes is right -- we do not have a game plan for the financing of the next war on evil. We need one. I would suggest a surcharge of ten percent on all income taxes. This will have minimal impact on the poorest among us but will raise an adequate amount of money from those able to afford the extra taxes.

Alternatively, we could make the surcharge refundable when the payer pasees 70. This would enforce saving for ones old age but that would not amount to much for the poor who need it most. So it is not quite a win-win.

Sent to Boston Globe

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