The current US tax code is regressive! It punishes the poor and middle class, while favoring the ultra-rich.
It seems that those in power have trained the struggling middle class to blame the poor for their inability to get ahead. This is the kind of divisive rhetoric that is chipping away at our unity as a nation. The truth is the wealthy don’t pay their fair share of taxes. They enjoy extreme luxury while working with some members of Congress to shift the costs of running this nation onto the poor and middle class. This lack of fairness was even cited by billionaire Warren Buffet, who lamented that his secretary paid more in taxes than he did. We can do better. The rich should give back to the country that provided them the opportunity and infrastructure to acquire their wealth.
According to a recent analysis by the Rand Corporation, the incomes of the wealthiest American families have grown faster than those of the middle class since 1975. If income had been spread equitably over this period, the bottom 90% of workers would have earned $2.5 TRILLION more. This inequity is not sustainable if we are to have the schools, infrastructure, savings and potential that was once the envy of the world.
We need to raise taxes on the wealthiest of America's people! I say that if you are reporting over $400,000 in income each year, you need to contribute a greater margin, so the economic balance is spread more evenly among our citizens. The middle class needs to be left as it is and the poorest of us need tax rates reduced.
The more equitable tax codes of generations past built the foundation of our modern country. We only started to watch that foundation crumble when the rich began to demand the burden be shifted toward the poor and middle class. Without a strong voice in Congress that trend will continue.
I will be that voice.