Wanting To Do More

From the San Francisco Chronicle, here's something you don't see very often, a public advocacy group funded by wealthy Americans who want to actually raise taxes on wealthy Americans.

The group, which calls itself Wealth for the Common Good, believes that people who have taxable income of more than $235,000 a year should support restoring their top federal income tax rate to 39.6 percent from 35 percent - and now, not in 2011, when the higher rate is scheduled to return anyway.

From their Web site:

"Our country is facing the worst economic challenge since the Great Depression and an urgent need to make a long overdue investment in bringing jobs and stability back to our communities. This investment should be paid for, in part, by repealing the Bush-era tax cuts our country cannot afford.

"Those of us with taxable incomes over $235,000 benefited from the upside of the economy during the last decade and profited for eight years from a 2001 tax cut. Now is the time to give back.

"We would see a minimal tax increase - from 35 (percent) to 39.6 (percent), a rate still far lower than the one under President (Ronald) Reagan - but the increased revenue would raise an estimated $43 billion per year."

In other words, those wanting fiscal responsibility can start by rolling back the Bush tax cuts on the wealthy now. That's something that Republicans and other "fiscal conservatives" will never consider, of course. That end of the spectrum is not included in the debate. Taxes can never be raised, only "wasteful government programs" dismantled.

Still, it's good to see somebody out there is willing to put their money where their mouth is.