So much for tax cuts and subsidies for the job creators. How long have we heard that the federal government cannot levy responsible taxes on the wealthiest Americans, because those wealthiest Americans and their corporations are the job creators, those who will lift us out of the economic ditch we are in?
Buchheit and Common Dreams have done a great service to all of us and to the country by documenting what the great 80 percent or so of us pay to widen our historic and destructive income and wealth gap, to provide welfare to the rich, farm subsidies to non-farmer land-owners while trying to cut food stamps, to watch jobs continue to hemorrhage and the economy continue to slide. Our government continues to subsidize private wealth while railing against those in crisis, because the very same wealthy class destroyed $7 trillion of American wealth with phony and reckless financial scams.
It is well documented that that 7 percent of our population owns 63 percent of the nation’s wealth, that 20 percent of our nation owns 80 percent of America’s wealth.
Meanwhile workers in the fast food industry are struggling and organizing to raise the minimum wage.
A doubling of the minimum wage would lift all of us, raising even the wages of those who hire and supervise minimum wage workers, pumping more money into our weak and struggling economy.
The concentration of wealth at the top of our economy is terrible for all of us, for our economy, for our democracy, and for America.