It’s democracy 101, taxes aren’t tyranny

The idea that everyone hates paying taxes, especially the super wealthy, does not apply to everyone.

Since tax day — the day that U.S. citizens, resident aliens and certain nonresident aliens must mail in tax returns to federal and state governments — is today, several media organizations are covering a variety of related topics.

National Public Radio provided a feature story yesterday morning that introduced their audience to a rare component of the situation: the wealthy American who wants to pay more taxes.

I thought it was a hoax, too, but apparently they do exist.

Marnie Thompson, who lobbies for her own tax increases, believes that it is her responsibility to pay higher taxes because she, unlike most Americans, can afford it.

Thompson founded a charity with the $5 million her father, who was a wealthy businessman, left her.

"I'm proud to pay my taxes; it's a hallmark of democracy," Thompson told NPR.

Thompson's wish will probably come true soon. The tax cuts that the Bush administration approved in 2001 are set to expire and are not likely to be renewed by the Obama administration.

Households with incomes of more than $250,000, and individuals making more than $200,000, will be paying more in income taxes while Congress is likely to extend the tax cuts to Americans who make less.

Dividend and estate taxes will also increase, in addition to new taxes that will be put into place to help pay for the new health care legislation.

Thompson is not the only one who supports tax increases for the wealthy.

Jeffrey Hollender, co-founder of the eco-products company Seventh Generation, supports the elimination of the Bush tax cuts because they only benefited the wealthy.

"You know, I can't deny that it is sometimes painful to write the check," Hollender told NPR, but said he still understands it is necessary because it is easier for him to handle than less affluent people.

"These arguments are really about keeping money in the pockets of people who already have too much money," Hollender said.

Hollender and Thompson do not think their pro-tax stance is that unique. Both mentioned a recent Quinnipiac University poll. The study shows 60 percent of Americans think people with household incomes of more than $250,000 a year should have their taxes raised to reduce the national deficit. 

Many wealthy people, including Warren Buffett and Bill Gates Sr., report that their reason for endorsing tax increases stems from wanting to support public institutions that helped them succeed.

These wealthy individuals are aware of the role that public organizations, like UCF, play in educating and molding the future billionaires of America. 

Thankfully, the Obama administration agrees and will be taking the recommendations of people like Thompson and eliminating some of the big tax breaks.