A higher tax rate on wealthy would force investment

Sam Sainsbury, Las Vegas

Friday, Sept. 10, 2010 | 2:02 a.m.

We often read how more tax cuts will provide increased employment. If so, we should not have lost any jobs and should not have high unemployment with the Bush tax cuts still in effect. Where are all the jobs that were promised with those tax cuts?

Instead of creating a sound economic base, the tax cuts provided us with trillions of dollars of debt, some of which is being offset by borrowing from the Social Security Trust Fund. What we need is a 70 percent (or higher) tax bracket to discourage money hoarding and encourage reinvestment in America.

I doubt corporate executives would take multimillion-dollar bonuses and salaries if they had to pay 70 percent or more back to the very people who helped create the wealth of their companies, the American consumer and taxpayer.