Dear Representative Matheson:
Thank you for your recent emailed newsletter expressing your concerns and ideas about reducing the national debt. I am pleased at the invitation to respond and express my feelings about how we should pay down the debt. Many of your ideas in my view miss the mark of what truly is responsible for our government's slide into over-spending. What we need to do to reduce government spending while still providing necessary services is to end war and reinstate taxes on the wealthiest Americans.
I read a fantastic opinion article today in the Christian Science Monitor that laid out the facts around taxes for wealthy. (http://www.csmonitor.com/Money/Robert-Reich-s-Blog/2010/0802/Why-we-should-let-the-Bush-tax-cuts-expire?) Be a hero and talk to some financial advisors to find out exactly how much revenue would be saved by keeping taxes for those making over $250,000 at 39.6%. In my opinion, it would be wise to raise it up to 50%, or higher. This is exactly what we should expect while fighting two wars. I would like to know what percentage of military families fall into this tax bracket. I doubt that it even matches the national percentage. I would bet that the military families who have had to make extraordinary sacrifice to fight overseas against an ill-defined enemy and with little in the way of clear plans for an end to this battle, fall firmly in the group of Americans that earn less than $250,000 a year. Can't the rich people pay up a little? Afterall, they are likely the ones profiting the most from this conflict.
Reinstate fairer taxes on wealthy people.
Then, we won't have any more debt problems.
Thank you for your attention on this important matter,