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A recent column published in The Maui News failed to mention the number-one reason for the surging U.S. deficit.
The top 20 percent of U.S. wealth holders and income earners just do not pay their fair share of taxes.
With those people who have multimillion dollar portfolios of assets able to defer, defer, defer tax forever, and others with annual earnings over $1 million having multiple avenues available to reduce their annual income tax bill, it is not surprising that the country faces the prospect of rising deficits.
The top wealth holders and income earners in the country do not pay their fair share but not a whisper of tax increases being a solution to the problem ever mentioned.
At the end of the article, when I discovered that Ms. De Rugy held a chair at George Mason University, a favorite destination for donations from many notorious dark money contributors, I was not the least bit surprised.
Ted Spevick
Kihei