I would like to respond to the forum letter about how unfair it is to overtax the rich with two words: unbridled greed.
In almost every major religion, greed is clearly denounced. In a capitalist society, everyone is motivated by economic self-interest. Consequently, I would say that greed is not right or wrong, but it depends on whether wealth is gained by acceptable or unacceptable means. Thus, greed must be controlled by channeling it in good ways, while avoiding an excessive desire to possess more than one needs or deserves.
Many families barely make enough to meet life’s necessities, with a little discretionary spending, not to mention health insurance. The new tax law gives 83 percent of the tax savings to the top 1 percent. The president told his friends that they just got richer.
Greed played a role in the financial crisis of 2008, when risky investment decisions should have been prevented. Government, through special interest donors and lobbyists, has become the supplier of rules and regulations that favor the rich.
The time-honored practice of tax avoidance is an invitation to abuse. The self-declared best CPA, who knows more about taxes than anyone, is a prime example of exploiting loopholes. Work and innovation lead to honest income, not accounting tricks and credit default swaps.
The Bible says a lot about social justice, with warnings for those who don’t take care of the needy, including the entire society. A rich man is often blind to his spiritual poverty, proud of his deeds and pleased with his wealth.
Don Hiddleson, Millcreek