Dec 19 2008
1%? No Big Deal
In California, there is plan to tax millionaires an extra 1% of their taxable income (or approximately $10,000 per millionaire for the every everyone with even one million dollars net income. If the country undertook this process it would mean 1,660,000,000,000 in taxable revenue for the country.
When I purposed this on today, in my other blog, people were quick to ask if I donated 1% of my own income, before proposing that other people do it? Yes, I do. My monthly income is about $900 (200 income, 700 benefits). I gave to my local food bank. Plus I usually give money to whatever charity my grocery store is collecting for. Not to mention, I do volunteer work. In November, I raised about $50 by being in a write-a-thon, like a walk-a-thon but for writers.
If I can happily give up my one percent, why can’t millionaires give up theirs? They’ll probably miss it less than I do. I’m doing my civic duty (helping my neighbors), I expect them to do the same. If that makes me a socialist, so be it. I thought it just made me a good person, doing what the good book said.
