The Rebane column in The Union on June 11 contains three fatal flaws:

The tax on net income above $250,000 is not 100 percent. The entrepreneur can invest every cent beyond $250,000 into a business, as long as they do it during the tax year in which it is earned, and they will not be taxed on it.

Why does Rebane feel that the entrepreneur needs to save that money up for years? What's then to stop him from simply selling the business and keeping all the extra loot, having never added a single employee during his ownership?

Rebane argues with tremendous crocodile tears that the poor entrepreneur works long hours and can't afford to add employees, because his net income above $250,000 will be taxed (implying that it would be taxed at 100 percent).

Thus the job creation process will be delayed or wrecked.

Reality check:

Assume that the entrepreneur works three times what the average worker does. He is still taxed at the same rate as a wage earner up to $250,000.

So, Mr. Rebane feels that the average worker makes $83,333 per year?

If, indeed, Mr. Entrepreneur is working that hard, then his wife and kids are being neglected, and the kids will be putting additional stresses on the schools and social services.

In real life, the spouse is probably shouldering some of the work load and a dual income of $250,000 is not too shabby these days.

Rebane also points out that setting off on one's own is detrimental to a career as a worker bee. This is true, but not in the way he states.

Any future employer will know that here is an individual who just might learn everything possible about the business, then quit and go into direct competition with the prospective employer. They do not teach this in school.

Naive to the ways of business as a younger person, I started working as a skiing photographer in Aspen.

I loved the job. The boss loved the images and the sales they made, and seemingly, me too.

One day in casual conversation I mentioned that I might want to set up an operation in California. “You're fired! Get out of here.” Life lesson learned.

Those who espouse no additional taxes on net income above $250,000 are leading the charge to drive the USA into a ditch on the side of the global economic highway.

The top 1 percent of the wealthy in this country have gone from owning 8 percent of the country in 1980 to owning 20 percent of the country today.

Their lack of leadership is most recently best exemplified by the four largest banks, who are sitting on housing inventory, and allowing it to be destroyed through neglect, instead of putting it on the market and allowing their famous “invisible hand of the market” to do a reboot of the USA economy.

Taxing the rich for real money can be done by simply charging a slight sales tax on all stock and commodities sales (aka trades).

At 25 cents per $100 sold, and 40 billion being sold each open market day, it will generate $100,000,000 each day the markets are open.

I think it is no mystery that the markets promote the notion that they do “trades,” not sales as it conceals from the general public what is really going on.

Meanwhile they will push for flat taxes and taxes on food. Taxing stock trades is a perfectly logical thing to do.

Douglas Keachie lives in North San Juan.