Re: “Profs ask rich to give tax cuts to charity” (TNT, 12-30).
Three professors at Yale and Cornell who decry the failure to increase taxes on the wealthiest in the recent lame duck congress believe the wealthiest should give their “tax savings” to charities. They recommend three charities: Habitat for Humanity, Children’s Aid Society and the Salvation Army, which they believe will create economic growth.
American history has shown that the government and charities never create economic growth. On the contrary, the wealthiest people in the country create growth and jobs. Bill Gates, Andrew Carnegie, Henry Ford and thousands more wealthy people created business empires that employed millions of people without advice from intellectuals.
Simple logic suggest the wealthy should keep their money to create jobs not waste it on the non-productive government and charities. Nevertheless, currently 1 percent of the wealthiest fund 40 percent of the income tax revenue and donate huge sums of money to charity.
The wealthiest have been the major factor that built America, to the envy of the world, while the intellectuals study, read their books, talk to the colleagues and have been an obstruction to growth because they are not doers.
Intellectuals like Marx and Lenin created a monster in Russia that resulted in millions of deaths over almost a century, and the country is still impoverished. Americans must go to the doers for success and ignore the intellectuals.