Our country is the singular wealthiest country in the world by GDP and per capita. We have the wealthiest person in the world living in America. We have the 1st, 2nd and 3rd Trillion dollar companies in our country, still operating! Many of our individual states have economies that rival western nations, and NYC alone has an economy that rivals some of our own states! It is even fair to say that we have some of the most bleeding edge medical care and services in the world and that our elite Universities are rivaled by very few institutions in the world.
We also have one of the largest economic gaps in the world as well. Minimum wage has stagnated for over 40 years. Real earnings have declined in the past 20 years while CEO to employee pay ratio has skyrocketed from 20: in the 1940's to 435:1 and greater in many cases, in modern times! We have an increasing homelessness crisis, housing crisis, renter’s crisis, the Covid 19 pandemic caused an economic collapse that resulted in 30% of Americans unemployed with no hope of those jobs returning. The vast majority of new jobs that are being created are minimum wage positions with no hope of career progression and systemic racism and discrimination prevent advancement within the corporate structure for many POC Americans in the first place. This also touches on the continued pay gap between men and women, women and POC, and combinations thereof. Then we have the continued discrimination against LGBTQIA Americans in the work force.
This is where the conversation must begin about Economic Reform. If we do not have the proper context of the sheer amount of disparity between the wealthy and the poor in our country or the utter lack of a middle class in this day and age, we cannot have an accurate discussion on what these reforms will require. Furthermore, due to recent events due to Covid 19 we have to further discuss the willingness of the Government to offer over $36 Trillion is tax payer dollars to banks, Wall Street and corporations but refuse to give Citizens economic relief during an unprecedented economic crisis.
That being said, what can we do as a nation to restore the balance of wealth in America? Many would argue to tax the 1% into oblivion, others would say abolish the Stock Market, and some others would still argue to eliminate taxes altogether! So what is the proper solution? The answer is that no one solution is the answer and that in order to restore wealth to the citizenry several changes will have to be implemented simultaneously. To that end those policies should be as follows:
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