Economy  
comments_image Comments

The Solution to Our Budget Problems Is So Obvious: We Need to Raise Taxes on the Rich, ASAP

The answer to many of our country’s domestic problems is obvious -- the rich need to pay their fair share.

Continued from previous page

 
 
Share
 
 
 

However, it may be the most important debate for the future of the United States and the health of the American Republic. If the government doesn’t intervene through its taxing authority to redistribute some wealth that now is concentrating among the ultra-rich, the middle class is likely to continue shrinking and the ranks of the poor swelling.

As the rich increasingly dominate the political process through unlimited campaign spending and the financing of sophisticated propaganda – like Fox News and right-wing talk radio – the policy battles will continue to be fought on ground favorable to the Right: more cuts in public spending, more reductions in retirement and health programs, more union-busting.

No democratic republic can long survive such a distorted political-economic-media system.

As Justice Louis D. Brandeis noted more than 60 years ago, "we can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both."

 
See more stories tagged with: