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There’s been lots of talk lately about taxing billionaires, both here in Maine and at the national level. And many advocates have all kinds of grandiose ideas for what we could do with the money.
I’m all for taxing the billionaires, but every cent that’s collected should go to paying down the national and state debt. No grants, no new programs, just pay down the debt, $1.5 billion for the state and $39 trillion for the entire United States. I think all jurisdictions should keep a small additional tax rate on billionaires until their debt is extinguished.
Paying down the debt is at the heart of conservative Republican thinking so there should be strong support from that end of the political spectrum. If we have no debt, there’s no need to keep raising the debt limit. One less thing to cause a government shut down.
David Bright
Dixmont
