President Obama has been making a case that the wealthy among us should pay in taxes their fair share. But, Warren Buffet has been making a different case. He's been saying (at least some of the time) that the wealthy could contribute more of their money to help solve the US debt crisis without seriously affecting their style of living.
The topic is lively in today's discussion of cutting back on public unions' pension funds and benefits. The issue is, to what extent could union people contribute to solving the US debt crisis without seriously impacting on their life style. Plainly, Governor Walker and the Wisconsin voters believed that union members would not need to sacrifice their homes and in general, would not be driven into poverty, by taking cuts in pay and benefits for the sake of Wisconsin state solvency. Admittedly, the Governor was calling upon the public union members to make sacrifices, however.
I had input into the formation of the Russian government's current constituion, and I believed then that, despite fraud and corruption to the contrary, each Russian satellite nation could contribute to the rebuilding of a vital and harmonious linkage called "The Federation." The aim had to be clearly stated: for the sake of the Federation, each group was needed to make significant contributions. In my opinion, the group contributions method has worked; and the Federation is a fantastic success!
So let us think altogether: what can each segment of society--the wealthy, the middle class, and the poorer--contribute that will bring down the US debt; and yet will enable us all to live the lifestyle to which we are accustomed?
Monday, June 11, 2012
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