To The Editor:

We agree with Robert Michael's July 3 letter to the Editor, in which he supported a wealth tax. The former Wellston resident called for a 2% annual tax on individual assets exceeding $50 million. He called it a "fair, effective and attractive tax". We believe the tax revenues could be put to good use.

Many young people who attend post-high school education, whether vocational training or college, unavoidably find themselves burdened for years with crushing student loan debt. It is like having to buy a house before you even get out of school, without the benefit of getting the house. The graduate pays on the student loan for years and so often cannot afford to get a family home life properly started. When we went through college we avoided that burden, and we believe our young people should have a similar opportunity.

There are many alternative ways to structure student debt relief. We favor a program in which the student participates financially, but is not required to become overwhelmed in debt.

Don't we all agree that our children and grandchildren deserve a decent start? Professor Michael's proposal would at the same time help to reduce the inequality of wealth in this country and potentially fund equal educational opportunity for everyone.


William C. Martin and Agnes I. Martin