Since the mid-1970’s the top 5% has receive the lion’s share of U.S. prosperity (see graph) and the linked article provides the details. In addition, fast-track trade legislation has enabled corporations to off-shore jobs for the benefit of the top 5%, creating the need for ever-increasing military spending to protect their assets around the world.
A few 2020 Democratic Presidential candidates favor a wealth tax, by justifying it as benefit-based rather than purely arbitrary to tax the rich, can general increase support and force opponents of a wealth tax to defend why it isn’t justified and fair. Such a tax is one the few hopes for getting the top 5% to support more prudent military spending.
With the top 5% accruing the lion’s share (80%+) of the benefit of military spending isn’t fitting for them to fund 80% of the military budget with a wealth tax!Read the rest of the story HERE:
At www.cbpp.org
At www.cbpp.org
