Corporations mulct people who work for a living.
“You can’t sustain making the poor richer by making the rich poorer,” says mistaken Republican water carrier, Richard Epstein, NYU law professor. Fair economics, however, is not about Robin Hood tactics, it’s about share of the GDP (Gross National Product). Middle class working people contribute more than half the value of the GDP. Corporate upper management contributes less than ten percent. In the past fifty years, working people have seen their share of GDP income drop from 55% to 44%. Management, meanwhile, has risen from 5% to 11%. Fewer workers are doing more work, producing more, and earning a smaller share of the total national income pie. Corporations and investors (The majority of stocks are held by upper management) are reaching all-time record highs, while the average middle class workers are suffering wage cuts, increased responsibility, fewer benefits, poorer work conditions, and greater discrimination. Corporations are raking in greater profits by cutting employees, creating new jobs overseas, demanding workers do more jobs for the same or less pay, and keeping wages low by keeping unemployment high. The Stock Market just eclipsed a record high just five years after almost being destroyed, while The Worker Market wallows in decline. Corporate Welfare––reduced taxes, special exemptions, guaranteed prices, tax exemptions, government grants, government research and development, tax loopholes, etc. constitute a far greater national expenditure than welfare to those sacked by the great Republican Recession. “Mulct” means depriving income by fraudulent means. Corporations are swindling people who work for a living. Won’t you tell me again, please, why you don’t think it’s fair to close tax loopholes for the rich?
Richard Dorsey, Hacienda Heights, CA