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Meanwhile there's an epidemic of home foreclosures. Unemployment is rampant. The cost of food, gas and health care is going up. Families across the country are falling into poverty, while many more are struggling just to get by.
And now the same Republicans who only months ago went to the mat to extend the Bush tax cuts for the wealthy are saying we cannot afford our social safety net because "we're broke."
There is something deeply wrong with our priorities as a country if we're cutting back on services for children and the elderly, the sick and the destitute, and anything that helps the middle class stay afloat while simultaneously cutting taxes for the likes of Paris Hilton and the Koch brothers.
We cannot allow the budget to be balanced on the backs of the very people who've taken it on the chin during this economic crisis.
Progressives need to offer an alternative to the morally bankrupt and economically baseless dogma of "tax cuts for the rich, massive spending cuts for everyone else." And the alternative cannot be simply to propose slightly less brutal spending cuts. We need to put tax increases back on the table.
While some members of the Democratic leadership have fallen into this trap of accepting the rightwing framing of the debate, progressive champions Rep. Jan Schakowsky and Sen. Bernie Sanders are leading the fight for a real solution to our budget crisis.
They have each introduced a bill to raise the income tax rates on people who make more than one million dollars a year. And they need our help to start changing the narrative around the budget.
Increasing taxes on millionaires and billionaires won't be a silver bullet, but it would bring in tens of billions of dollars that would allow us to avoid some of the most brutal budget cuts we're now facing. And it would be a step toward making our tax system more fair.
The disparity between the rich and the poor is growing in a way that is deeply unhealthy to our society. The richest 1% of Americans are making 24% of the country's income, which is the highest share it has been since the 1930s. The 1930s were also the last time the richest 1% have so consistently paid such a low income tax rate. And as Michael Moore has pointed out, the top 400 Americans own more wealth than the bottom 50% of Americans put together.
This wide gulf between the haves and the have-nots not only affects our economy, it distorts our democracy. We have to take action before it's too late.
Now, more than ever, we need you to speak out.
Matt Lockshin, Campaign Manager
CREDO Action from Working Assets
CREDO Action from Working Assets
P.S. There is also a "big picture" reason to support these bills. Democrats are the party of FDR. With the introduction of the bills to tax millionaires and billionaires, we can push the Democratic leadership to start acting like it.
The government should be expanding services to the needy and investing more in infrastructure and education, not cutting back.
Our country isn't broke. And if we don't stand up to the Republican's intellectually dishonest claim that it is, our moral compass may become broken.
We cannot shred the social safety net when it's most needed. It's long past time to require the super wealthy to pay their fair share.