Now we see the gruesome results of the trickle-down economy. Since before the Reagan administration, there has been reduction of tax rates on capital gains, corporate income and higher individual incomes, along with the reduction or elimination of various revenues.
After 40 years, the results are that the top 1 percent, by income, controls 42 percent of financial wealth, and 93 percent of all the wealth is controlled by the top 10 percent of the country.
The quality of life for other people is threatened with an outdated educational system, high cost of health care and lack of living-wage jobs. The nation faces deteriorating infrastructure, environmental concerns and the need for a new fuel source.
Where is the prosperity and all those trickle-down jobs?
Is the end of the middle class the result of the trickle-down economics philosophy?
Perhaps it is time to reverse that reality.
The nation’s founders created this democracy, this way of life, for the common good of all. It is time to end corporate-run government and end corporate welfare.
The nation needs to invest in the future of the children and grandchildren. It is time to increase government revenue for the purpose of providing the quality services that it was meant to accomplish, and bring back the American dream by strengthening the middle class.
Working families contribute to government revenue disproportionately. It is time for the top 10 percent, who enjoy the rewards, to allocate their fair share.
Diane Poirier, Lewiston