General Discussion
In reply to the discussion: I'm Sorry... But They're Just Shoving Class Warfare In Our Faces Now... [View all]TBF
(36,963 posts)he only had that opportunity because this country has been brainwashed into thinking capitalism is the only economic system out there.
At the very least we should be massively redistributing via taxation, because there is no reason on this earth that four people with the name Walton should have more money than 40% of the country.
I would prefer a socialist economic system (with democratic political system), but at the very least there are 3 steps that could turn things around quickly without going that far:
1. Return capital gains tax rates to full taxation (they have been cut by every administration since Reagan). It makes no sense that we pay 30% taxation (average) on income earned from jobs and only 15% taxation on income earned from investing. That is backwards - it only rewards the very rich.
2. Return to taxation rates of the 50s/60s. For individuals and corporations.
3. Double the minimum wage - give folks who are willing to work a fighting chance.