How To Avoid Raising Taxes on the Middle Class or Cutting Programs the Middle and Poor Depend On

By Robert Reich

Nation of Change

 

 

http://www.nationofchange.org/how-avoid-raising-taxes-middle-class-or-cutting-programs-middle-and-poor-depend-1359124921

 

“The real median wage is only slightly higher now than it was 30 years ago, even though the economy is twice as large.”

 

“Wealth has become even more concentrated than income (income is a stream of money, wealth is the pool into which it flows).

The richest 1 percent now own more than 35 percent of all of the nation’s household wealth, and 38 percent of the nation’s financial assets – including stocks and pension funds.

Think about this: The richest 400 Americans have more wealth than the bottom 150 million of us put together. The 6 Walmart heirs have more wealth than bottom 33 million American families combined.

So why are we even contemplating cutting programs the middle class and poor depend on, and raising their taxes?

We should tax the vast accumulations of wealth now in the hands of a relative few.

 

Why do we vote for millionaires who then write bills that further their aims to become billionaires?

I’m sorry, perhaps I misspelled Democracy.

“Oligarchy (from Greek ὀλιγαρχία (oligarkhía); from ὀλίγος (olígos), meaning “few”, and ἄρχω (archo), meaning “to rule or to command”)[1][2][3] is a form of power structure in which power effectively rests with a small number of people. “http://en.wikipedia.org/wiki/Oligarchy