As U.S. corporate profits soar to record highs, food stamps for the neediest were quietly cut. The politicians who are demanding endless cuts to social programs — Democrats and Republicans alike — insist that the U.S. is broke, all the while conveniently ignoring the mountains of tax-free wealth piling up in the pockets of the super rich.
In the US, the top tax rate was over 70% from 1938 to 1982 Reagan cut the top rate to 35% and changed taxation from corporate to individual leading to exploding inequality and generalized insecurity. Raising the tax on the super-rich would partially reduce the unjust inequality through redistribution.
In one of comedian Chris Rock’s routines, he observes: “You know what that means when someone pays you a minimum wage? You know what your boss is trying to say? ‘Hey, if I could pay you less, I would, but it’s against the law.’”