To the Editor:
With elections finally over, Capitol Hill is now focused on addressing the fiscal cliff in an attempt to avoid massive tax increases that will hit most taxpayers. There are clear differences in how revenue should be increased, and it remains a contentious issue that hopefully will be resolved. I would like to offer my opinion on how it could be handled.
1. Increase the tax rate back to pre-Bush limits for any return where reportable income is greater than $1 million. This higher limit protects most small businesses, such as restaurants, dry cleaners etc., but includes hedge funds and real wealthy people, such as Wall Street types, sports and entertainment, etc.
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