It’s time for millionaires to repay a favor

Jeffrey M. Shear, North Las Vegas

Sunday, Dec. 5, 2010 | 2:02 a.m.

On Thanksgiving Day the Las Vegas Sun published a column and several letters to the editor with which I agreed.

Bob Herbert, in his column “A gift from long ago,” wrote about John F. Kennedy and his New Frontier speech from 50 years ago. Mr. Herbert argued that, like the America of 1960, if we’re to surmount the seemingly unsolvable problems that bedevil our nation, we need “a renewed sense of national purpose” and “mutual sacrifice.”

In my opinion, additional revenue could provide “seed money” for not only funding innovative educational programs — including the recruitment and retention of outstanding teachers and university tuition grants to every capable student — but this money could also be used to help develop domestic energy resources. This would decrease our “carbon footprint” and make the U.S. less dependent on foreign oil. Meanwhile, infrastructure initiatives and health and wellness initiatives could allow us to avoid looming health care access and funding crises, and debt reduction could also be envisioned.

I believe, since wealth is actually derived from a society by manipulation of its natural resources, capital and labor markets, those who have benefited the most (the wealthy) owe a huge debt to everyone else and should, either via charity or taxes, repay society.

Unless America wants to adapt a Third World two-class social structure, it’s time that tax relief for millionaires and billionaires ceases and these individuals begin to pay their fair share.