Wednesday, April 20, 2011

Another un-original idea...

So the bureaucrats and bean-counters are talking TAX INCREASES (again). And, as usual, without finding very many significant reductions in one the spending side. Want to generate some revenue from the "Evil Rich"? Here's an idea...

How about a 50% surtax on anything earned after leaving the federal government, above whatever the federal salary was. Example, leave a $300K job at the White House, take a $1M job with Goldman-Sachs, and pay a $350K surtax. Such surtax to be in effect for ten (10) years.

Now, I'm mostly after elected and appointed positions only, not the hired rank-and-file, but they don't completely escape either. Those worthy folks being paid a salary in the upper 20% percentile of taxpayers would have their 50% surtax only kick in for the difference at 20% above their public-sector salary, and would be limited to only(?) 5 years. All those above the 20% income level take the big 10-year bite with the rest.

And while we're at it, let's take the pain another step further and say that any salaries paid to such former government officials aren’t tax-deductible for corporations while the surtax is in effect. See? There's a private-sector penalty, too.

Some enterprising budget hawk (from either party) should add this concept to a spending bill and watch the fur fly.

- Steve

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