Jan. 31st, 2009

greensword: (empathy)
Some people talk about the redistribution of wealth as though it's a bad thing. I'm not sure why, because many of these people are not filthy rich. Maybe some people still have a misguided sense of loyalty to an economic system that doesn't work. I've noticed that these people aren't terribly poor, either. Makes it easier to believe in abstract economic ideals when you know where your next meal is coming from.

I just find it amazing that, after years of massive wealth redistribution, with obscene wealth disparities not seen since the gilded age, and with an economic collapse directly caused by the recklessness of the financial elites, who grew wildly rich as the average american kept getting poorer and poorer, the solution seems to be to take massive amounts of taxpayer money and give it to the richest people in America, practically the only people not hurting right now.

No. No no no. Fuck that. We need to take massive amounts of rich people's money, and give it to the taxpayers.

We need to redistribute wealth.

When my grandfather was my age, the highest tax bracket was 95%. When my father was my age, the highest tax bracket was 70%. Under Reagan, that dropped from 70% to 30%. It's hovered in the 30s ever since.

(During the 1920s, taxes were even lower than they are now. It was FDR who raised taxes for the richest Americans during the great depression & WW2.)

We need to raise taxes on the wealthiest Americans. By a lot.

I don't know if there's a prayer of this happening. Obama is disappointingly milquetoast when it comes to challenging the financial status quo, although I agree with many of his stimulus ideas.

Anyway, I hope this bill passes. It's a teeny tiny step, but it's in the right direction:



You tell 'em, Claire.

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greensword

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