I know that you have heard it from me before. You can count on hearing it again. Last week tax returns from PACs were released and it gets me going… I read mind boggling numbers and can’t help but think about my clients, my employees and the people I meet every day on the streets.
1% of Americans own 40% of all wealth. That is a fact. That is the economic reality in the United States today. 5% own 90% of all wealth. The middle class is barely distinguishable from poverty level Americans in terms of real wealth.
In other words the system is fixed, your children have very little real hope of maintaining your lifestyle. That’s unjust and it should bother all of us… well at least 90% of us. Republicans in Congress are focused on cutting off food stamps to children and veterans. Active duty military are looking at a pay cut and paying for their own medical benefits. How did we get here? A simple theory that has become the poison of the American Dream: “trickle down economics”.
It is indisputable that favoring the rich with tax breaks has been a disaster for all but a very few Americans, yet we hear absolutely nothing from Congress on changing the rigged system. Why? The political system has now become rigged. Citizens United guaranteed that the super rich can pour billions into elections to shape elections. Just look at one PAC, Roves American Crossroads and the money they collect to rig the system politically. Tax returns released this week have numerous “anonymous” contribution such as one $16 million dollar contribution from one “person”. Who has $16 million to give for political elections?
Until the political system is reformed the tax code will continue to funnel wealth to the 1%. Someone needs to stand up for you in Congress.