WHAT TO DO!
By Kermit C. Moss
It is the opinion here that the concentration of wealth in the United States is the greatest threat to the continuation of our great democracy, rating even higher in that regard than the incompetence of so many top American political leaders! And it is increasing at an increasing rate, and moving ever faster under the Bush 43 administration, with its passel of income tax breaks for the rich. Recent research indicated that 85% of all stocks and bonds and, I believe, 50% of all other commercial assets are owned by 10% of American families! Also, it is increasing at an increasing rate, with the Bush tax cuts for the rich making it the fastest in history.
Then with the bridge disaster in Minneapolis we are confronted with the indisputable fact that our infrastructure is in serious state of disrepair. In addition our health care delivery system is not working, and our kids are not being properly educated, while we are spending $12 billion per month in Iraq.
But they say that we don’t have enough money to solve all these problems. However, I understand that we have $80 trillion in wealth in our country. A 1% tax on that would yield $800 billion, and if we revoke the Bush tax cuts on the rich, and restore the estate tax, we would certainly have enough to do all those things and more. And it would be a start toward solving the concentration of wealth problem!
Kermit C. Moss
PO Box 1136
Monticello, AR 71657
PH 870-367-2486 - office
870-367-7034 - home
August 8th, 2007
