To the Editor:
Our United States is in the midst of an economic implosion that could make our Great Depression look like child’s play.
We may soon disintegrate enough to reveal our third-worldly rotting core where corporate and billionaire power and greed have replaced “democratic” infrastructure and governance.
Our once-enlightened political and economic systems have been manipulated to ensure the success of only a fraction (1 percent) of our population at the expense of everyone else.
Remember playing Monopoly? Strategy: scoop up Park Place, Boardwalk, NC Avenue, Pacific Avenue, both utilities, all four railroads, and a few other properties. GAME OVER
The other players (once middle-class property owners) will eventually go bankrupt, being forced to pay higher costs for rent, services, utilities, and transportation. Finally, monopolists will have all the money and everyone else is left out in the cold.
Suppose the game doesn’t end there. The (once-upon-a-time but now broke) middle class keeps rolling the dice around the board using credit cards or other lines of credit to stay in the game.
The monopolists will find it collectively difficult to collect enough income from increasingly impoverished Americans who can’t afford to pay rent, mortgages, utilities, etc. The monopolists won’t be able to sustain their opulently arrogant lifestyles.
This is how real-world economics suffers when economies are deprived of their buying-crazy middle class. Today’s global inequalities of wealth are a reflection of Monopoly’s corrupting strategy.
How can we patriotically and morally correct this ecodilemma? Retry progressive taxation. Some of you may remember when FDR hiked the top income tax rate to 90 percent.
While in effect (30 years) the bottom 20 percent saw a 116 percent income growth. The middle 20 percent saw a 117 percent increase and the top 5 percent saw an 85 percent increase.
All income classes shared in the prosperity when the top rate was above 70 percent. Center for American Progress studies show that when the top marginal rate is above 50 percent, economies prosper.
With more revenue coming into our government thanks to progressive taxation, citizens could be adequately protected (from gross corruption(s) by a Christian-like safety net.
Minimum wage doubling would boom this economy as a way to shrink wealth’s inequalities and embrace the moral motive over the profit motive if the correct reforms are financed and the moral choices made we can avert disaster and make our nation whole again by creating millions of infrastructure jobs.
And, raising the minimum wage has not been shown to cost jobs.
And, the Pope said trickle-down is a myth.
To the Editor:
Why are fair officials targeting firefighters?
The Allegany County Fair has been known for its Demolition Derby for a long time. Several years back the operation of the derby was awarded to the local Cresaptown Volunteer Fire Department.
Here’s a time when W.Va. law took precedence over Md. law
There may be an applicable precedent concerning any assumption that the Potomac Highlands Airport Authority (PHAA) can choose to ignore West Virginia territorial state laws.
- Tribute to Katie (Arnold) Forrest
- Citizens don’t want Terrapin Run; remove it from the plan
- Hydrofracking won’t spoil just land of those who consent to it
- McCoole Fire Department’s failure must be investigated
- How they held each other could be a lesson for us all
It shouldn’t take a study to figure out what city needs
Another study on what to do with Cumberland? (“City’s economic consultants unveil good, bad at study update,” June 26 Times-News, Page 1A)
It might not be a problem, but a possibility
God certainly orchestrates circumstances that cause us to marvel. The recent flood In Cresaptown that Calvary Baptist Church/School endured is proving to be yet another miracle birthed out of devastation.
Look to the Jubilee solution to resolve our economic woes
Following the Lehman banking debacle of 2008, the government sponsored bailout of the banking sector to boost the economy created an illusion of recovery.
- More Letters Headlines
- Why are fair officials targeting firefighters?