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Columbia Missourian

LETTER TO THE EDITOR: Buffett rule is good alternative for generating revenue

By Robert Blake
April 19, 2012 | 11:29 a.m. CDT

This letter is in response to J. Karl Miller's most recent column, "Obama's Buffett rule another attack on wealthy, Romney".

J. Karl Miller focuses exclusively on the federal income tax to support his claim that the wealthy bear a disproportionate tax burden.

However, if all taxes are considered, the top 1 percent have about 20 percent of the wealth and pay about 20 percent of the taxes.

Miller disparages the relatively small amount of revenue that the "Buffett rule" would generate, but cuts in spending for social programs such as Head Start proposed by Republicans would have even smaller effects on the federal deficit while seriously impacting the most vulnerable members of society.

How much would the 30 percent of millionaires who would be affected by the "Buffett rule" really suffer?

Robert Blake is a Columbia resident and a retired family physician.