|
|
 |
|
| Letters to the Editor |
A Counterpoint to Clinton
07/01/2004
|
Dear Editor:
While I applaud your inclusion of progressive ideas for
philanthropy, I must point out that Bill Clinton’s opening shot of self-pity and
justification is both poorly aimed and obviously in poor taste (“Filling Four
Fissures,” May 2004, page 26). I’ll begin with this striking quote from our
former president: “Since we do not need this money and should not have received
it in the first place, we ought to give it all away.”
 First, whether or not
multimillionaires need tax relief in a personal sense is an irrelevant straw
man. The salient point is what will they do with it? Some may indeed decide to
spend it on themselves, which could be judged selfish, but like all private
spending, it goes back into the economy. The rest will invest it where they
believe it will garner the greatest return. And let’s not forget that many
millionaires (though not all) do not become millionaires by making bad choices.
Their reasoned risk-taking creates jobs, companies and entire industries. Which
as we all know, reduces the burden on both public and private philanthropic
organizations via a combination of the tax revenue generated and the employment
opportunities created throughout the tax brackets.
|
|
|
|
|
|
|
