Jesse Chancellor wrote to the Editor,WashPost

Washington Post, March 20, 2009 on page A18:

Letter writer Laura Pickford listed a number of reasons why the wealthy should not be required to pay more in taxes. The key reason why they should do so,however,can be found on Page 1 of the same edition of the newspaper ("China Worried Abot US Debt")

The Chinese now have far greater leverage over us economically and militarily because they have largely financed our federal budget deficits of the past decade. Those deficits, which replaced large projected surpluses, were caused in part by unsustainable tax cuts for the wealthy championed by the previous administration.

Now we face a clear national emergency and the government needs to act to restore our economic system, but its options are limited. Unless those Americans who benefited the most from the last 30 years of changes in the world economy are willing to pay more to help put our fiscal house in order, America's options as a political,economic and military power will continue to be circumscribed.

It is up to the readers to concur or demur the above letter to the Editor.

Francis Shieh a.k.a. Xie Shihao,a blogger to share the thoughts of other writers with insights apropos of Sino-American Economics leading to political and military clouts as written.

March 20, 2009 at 10 a.m.