As more and more wealth flows into fewer hands, the American middle class seems about to disappear … hammered by higher prices for the essentials of life, while take-home pay remains stagnant or even drops. The middle class is essential to our economy because the more people spending and saving money stimulates business and creates jobs.
So I agree with President Obama’s recent speech in Osawatomie: the middle class is struggling. But is the only remedy higher income taxes for the wealthy?
Why not consider a seriously lower corporate income tax? Instead of the highest corporate tax in the world, maybe the U-S-A should have the lowest. We should also seriously consider new, fair income tax rates and a possible national sales tax to raise needed revenue.
We still need action to curb run-away health care costs and adjust entitlements … their pay-ins and pay-outs. It seems to me those measures could help our middle class thrive again.
Our thought for today is from Frank Herbert:
“The people I distrust most are those who want to improve our lives but have only one course of action.”