Money in circulation is money being invested in growth without assets of corresponding value. The current economy has demonstrated some profound anomalies and it can no longer be assumed that everything is sound except what appears on today’s headlines. At this point tomorrow holds new uncertainties. In line with this, it is reasonable to also increase the corporate gains tax. Yes it is going to hurt. It should hurt. No pain, no gain. Right?
For those of us not Wall Street tycoons, it is past due to provide us with parachutes that are as comparable as those offered to Wall Street. Single-payer health care, federal refinance for loan defaults, emergency rent subsidies, gas vouchers and increased unemployment compensation and increased accessibility to pension funds and 401(k)s need to be put on the table. It is ridiculous to talk about putting a cap on CEO salaries, as a bone for the peasants, in return for a $1 trillion bailout. Pensions, mortgages and individual stock-holdings tied in with funds and 401(k)s need to be protected and guaranteed.
Reduce the Federal deficit
It’s time to re-establish a financially sound Federal Government. This means being willing to reduce defense spending and cut the big tax breaks for the rich. It means establishing a new revenue pool for public infrastructure investment that will benefit both the people and the businesses of America. The upgrading and maintenance of schools, public healthcare, national parks, roads, utilities, public lands and waters, emergency and natural disaster response have been neglected for too long.
Cure is Worse Than the Disease
No bailout. No way. No how. This time, it’s time for Wall Street to keep quiet and stop trying to push their weight around. THEY are in a panic, but OUR situation is as bad as it has always been.
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