Nation building at home

Nation building at homeOnce again the American economy is leading the world, but most Americans are not sharing this increase in prosperity.  The wealthy claim creating wealth creates prosperity for all, but Reagan’s trickle down economics is a failure. 85 individuals now own more than 50% of the rest of world’s combined wealth. 1% of America gets the cake and 99% fights for the crumbs. Since 1970 profits and dividends in the U.S. have skyrocketed while wages and salaries have stagnated. Production has outstripped compensation. Good paying jobs have declined, low-paying jobs have increased, and businesses have shipped labor and potential tax revenues overseas. The worst part is that the wealthy claim growth is curtailed because they are the victims of taxation and class warfare. That argument is akin to Nazi Germany invading Poland claiming they were victimized by Poland holding land Germany needed for expansion. Corporations claim they take the risk and deserve the profit. But profit comes from consumer demand not investment.  Americans own the land and resources corporations use to do business. All Americans must have the opportunity to share in prosperity.  Income inequality is a dead-end street. Not only does a single mom with two kids and minimum wages struggle, but even those who are well off struggle due to increased costs of education, real-estate asset devaluation, and lack of access to corporate tax revenues for infrastructure repairs. Instead of unbridled profits its time for common sense economics. Instead of a widening income gap its time for equal opportunity. Instead of idealistically spreading democracy around the world it’s time for a little nation-building right here at home.  Richard Dorsey, Hacienda Heights, CA.

 

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