Instead Of Furloughs, Tax Those Who Can Afford It
Historic sacrifices must be made to reduce the loss of life and to repair our economy.
October 1, 2020 · 3 min read
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COVID-19 has made many think back to the flu pandemic of 1918-1919.聽Also a little over a hundred years ago was America’s entrance into World War I.
At that time, President Wilson convinced Congress to impose special taxes to pay for the emergence at hand, then, the war. The War Revenue Acts of 1917 and 1918 imposed more steeply graduated income taxes, what calls “a redistributive, soak-the-rich policy.”
As Governor Ige calls for a 10% furlough for state workers, we should take a lesson from history and ask sacrifices from those who can afford to pay, the rich, and not cut services when these services are needed more in this time of pandemic.
While most of us are experiencing some economic pain now, others are doing well. Grocery stores sell more as restaurants sell less.
Delivery services seem to be doing well. Bankruptcy attorneys are as busy as ever. Distilleries making more disinfectant and fewer beverages are doing well. Realtors selling single-family homes are bustling.
These people who are making more profits should pitch in more than those who are already hurting.
Living Through A Crisis
New Jersey has already latched on to this idea.聽It voted to increase state taxes on income over $1 million by nearly 2 percentage points.
“We do not hold any grudge at all against those who have been successful in life,” said Governor Philip Murphy, a former executive at the investment bank Goldman Sachs. “But in this unprecedented time when so many middle-class families and others have sacrificed so much, now is the time to ensure that the wealthiest among us are also called to sacrifice.”
With small businesses folding in droves and Food Bank lines stretching far, sacrifices are being made. How do we distribute them?
Furloughing public workers only decreases consumer demand for the goods and services that keep businesses in business.聽Cutting any programs for people with low incomes only inflicts pain on those who are already hurting.
We are living through a crisis that has taken over 200,000 American lives, almost double the loss in World War I, over three times the loss in Vietnam, and about six times the loss in Korea.
Historic sacrifices must be made to reduce the loss of life and to repair our economy.聽Those who are doing the best should contribute the most.
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