Letter: Set up jobs fund for millionaires
House Speaker John Boehner said Sunday, Dec. 18, 2011, that House Republicans oppose the Senate version of the extensions of the payroll tax and unemployment benefits. Boehner, of Ohio, made his comments on NBC's "Meet the Press." He is shown here this past week with Republicans, from left, Rep. Jeb Hensarling, of Texas, and House Majority Whip Kevin McCarthy, of California. The three were talking with reporters on Capitol Hill. (Dec. 16, 2011) Credit: AP
Here's a simple way to settle this business about taxing millionaires ["2 leaders change their tune on guv," News, Dec. 12]: Establish a government-free, autonomous National Private Fund that would provide money for startups, small businesses or business entities that need an infusion of money to grow, but with the caveat that any business or legitimate enterprise receiving funds must first promulgate a plan to hire a certain number of new employees.
The National Private Fund could also be used to train or retrain the unemployed who can't find jobs. The fund would publicize its mission to the extent that it can also serve as a quasi-employment agency.
The money to establish and finance the fund would come from America's millionaires, by way of an addition to the federal tax law. The federal government would agree that an individual contributing $1 million or more to the fund would not be required to pay tax on the amount he or she contributes (as though he or she never earned it).
Annually, each contributor would be honored and awarded a medal by the president at a special televised ceremony.
Howard Blankman, Port Washington
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