Regarding the column by Bloomberg columnist Karl Smith (“Commentary: Republican tax proposals aren’t as bonkers as they sound,” Feb. 2), the Republican plan for a flat national sales tax is bonkers.
A much better plan would be to tax the wealth of billionaires. By one count, America has 735 billionaires. Collectively, they are worth a staggering $4.7 trillion. If there was a half-percent tax on wealth over one billion, we could raise considerably more than the annual Social Security deficit. It would be no hardship for the billionaires.
Let’s tax the people who can easily afford it, not burden our hard-working families with a national sales tax.
Sigrid Olson
Cape Elizabeth
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