Opposed to proposed tax on millionaires
February 22, 2013 · Updated 12:22 PM
I read with interest the latest scheme by the folks in Olympia to levy a special tax on “millionaires” (Feb. 8 North Kitsap Herald, page A1).
First, many of these “millionaires” are small-business persons whose sales are usually at the $1 million mark. Take out such things as expenses and taxes, and many of these “millionaires” are lucky to be left with a shiny new nickel for themselves.
Second, punishing success is not the way to go. Remember that it’s from these “millionaires” that jobs are created. And, with private sector jobs shrinking, why kill the goose that lays the golden eggs?
Government is shrinking as well because of declining revenues, so Washington may as well stop relying on the federal government for its sustenance from the bases. If “millionaires” decide to leave, just as they’ve left California, there will be a massive economic contraction.
But then, go ahead, have your “class warfare.” With this “millionaire,” it’s hasta la vista, baby!
Walter Jacque, MBA