Distributing wealth

Published 9:55 pm Wednesday, December 14, 2011

To the editor:

I’d like to reach out to all of my liberal friends and although I don’t know many super-wealthy ones, I want to include those considered part of the 1 percent. To those who feel that people should pay their “fair share,” I’d like to ask all of them a question.
When you are negotiating for a job or contract, you or your representative are negotiating for the best deal possible for you. There’s nothing wrong in that; it’s called free enterprise. The question is, why don’t you just negotiate for what you need, not what you want? Why not negotiate for the minimal amount that will allow you to feed your family and provide a modest allowance for clothing and living expenses?
You give the impression when you espouse “fairness” in the distribution of wealth that you have no part in it, but would not mind paying more if required. You do have a part in it, because if you’re an actor or entertainer, your $1 million fees come back to me as increases at the box office. If you’re a sports figure, try and pay for a ticket to any sporting event. If you’re a CEO, the cost of your company’s widget is increased to cover your salary and bonus.
You can already be involved in paying your “fair share” by paying taxes and filing a simple 1040A, paying taxes on the gross income — without any deductions.
Warren Buffet was able to defray taxes on billions when he set up his foundation and donated to it. Anyone donating to a foundation (a tax exempt nonprofit) can take a deduction on their taxes. Why didn’t he just set up a for-profit company with him as the only stockholder, run it as a losing business, but perform the same charitable acts and not claim a loss when he files his income taxes?
Warren is using the system as well as any other 1 percent-er to his best advantage. There’s nothing wrong in that; it’s the system we’ve agreed to and now it’s time for real change and we could only hope.

Flena Rubalcaba