This week-end of rest and recreation marks the end of our Congress‘ summer recess. Fall approaches, and with it, a new season of heated debate about our ever-increasing deficit and the measures needed to improve our economy.
With this in mind, I propose that our public servants consider raising taxes on the super rich.
Semantics and demagoguery are the reasons we are in this socio-economic mess. The super rich don’t pay the standard income tax rate that us mere mortals pay on earned wages. Instead they pay dividends and capital gains taxes, which have a much lower rate. They get to offset their losses (euphemism for calculated bad investments) and benefit from the many loopholes our skewed tax code affords them. It’s no surprise that many of this élite end up paying zero dollars.
And no, they are not job creators. This is at best fear mongering. Their corporations are holding the middle class hostage by declaring they can’t afford to offer or sustain jobs in an “adverse” economic environment. Meanwhile, these corporations and their super rich minions have never had such an advantageous fiscal situation.
The members of Congress have made this travesty legal. The people elected to defend our interests, are instead assisting in our financial slavery. Congress no longer represents the average American citizen. This is unethical, immoral and a crass affront to one of our countries basic tenets – no taxation without representation.
I am glad that the members of congress get to enjoy flowering roses, blooming pomegranates and fig trees during their well-earned four-week vacation.
Paid for by the people they no longer represent.