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Wealthy happy to pay more, when everybody pays some

BY JOHN PRIBYL Published: November 23, 2012
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One could paraphrase the question that was asked, and the corresponding answers, from two differing perspectives. On one hand, when asked, “Do you think raising taxes on everyone but you is good policy?” 50 percent responded yes. On the other hand, 48 percent of respondents, despite the fact that the increased taxes wouldn't apply to them, realized the inequality and the harm to the economy that would result.

From that perspective, the 48 percent have spoken more loudly than the 50 percent. Therein lies the true mandate. I've yet to meet one “wealthy” person who isn't willing to pay more — when everyone pays some. That's the American way.

Pribyl is senior portfolio manager at Leonard Investment Advisors Inc., in Oklahoma City.