Can we overcome our State of Inequality? Only if we’re dedicated to supporting individual rights over the rights of the Corporations.
Again, we need willing representatives on the State and local level, to acknowledge the plight of “We the People” and tax individuals progressively according to their economic status.
According to this weeks Economist , the US income tax promotes inequality. We should be considering limited payroll taxation and tax credits for those earning $100,000 and tax those earning more, 36% and 45%, for those earning up to $500,000 and those in the 3 rd category pay 45%. It would greatly simply our lives , if we closed loopholes that favor the wealthy. There’s always been tax evasion, it’s the unbridled greed that’s new along with LLC’s and offshore accounts for a growing number of the 1%.
Benefits:
- This system would generate more money for SS, Medicare , Medicaid expenses.However, make no mistake, basic supplements do not substitute for a decent living wage, especially since the burden of support rests on the shoulders of “we the People”.
- To be effective in overturning Inequality, “we the People”, must vote Democrat to overturn the egregious Tax Cuts to the 1% and Corporations.
- We could also consider a consumption tax on high priced items, however, I’ve never favored that over progressive taxation.
- Enforceable collection of Federal and State Taxes would increase the revenue for basic services; Healthcare, Education and Infrastructure. “We the People” need wealth transfers to support our jobs at better wages.