Tag: income inequality
We most certainly can. We have history on our side.
The total collective wealth of American billionaires is "nearly double the $2.1 trillion in total wealth held by the bottom half of the population, or 165 million Americans."
Not only would a wealth tax raise revenue and help bring the economy back into balance, but it would also protect our democracy by reducing the influence of the super-rich on our political system.
Trump’s attack on regulation is just another form of trickle-down economics – where the gains go the top, and the risks and losses trickle down.
The richest 2-5%, those Americans with an average net worth of about $2.5 million, accumulated enough wealth in 2017 to pay for the safety net FOUR TIMES.
Why is it so hard for people with wealth and power to admit all this?
The breaks seldom pay for themselves — and put employees of local businesses out of work.