While dreaming of sugar plum fairies on Christmas Eve, it occurred to me that perhaps a new tax plan might solve several problems at once.
If we can find a courageous legislator to sponsor a bill, I propose that all political campaign contributions in excess of $50, provided by individuals, corporations, unions, political action groups or political parties, be taxed at a 100 percent rate.
For example, any political contribution that exceeds $50 will have to be doubled. Thus, a $100 contribution would require an additional payment of $50 in taxes, with $100 going to the candidate’s coffers and $50 to the government. Similarly, a $1,000 contribution would be taxed on the $950 in excess of $50, resulting in $950 going to the government.
I am suggesting that all the tax money collected be designated to be used only toward reducing the government’s debt and not toward any other programs. Just imagine how quickly the national debt could be reduced if political contributions continued at even half the current rate.
If applied at the state level, then those contributions could be used to reduce state debt.
If put into effect, such a tax program, would go a long way toward putting political financing in a more appropriate perspective.
Like any fantasy, this one would require a large number of brave and intrepid legislators and government executives. Anyone willing to step forward?
Lewis Rodrick, Centre Hall