Wednesday, December 24, 2008

How Much is Enough?

Here’s a couple of interesting items, which I shamelessly lifted from the Too Much Web site. Perhaps you’ll find them interesting, too.

Stat of the Week:

How could U.S. income inequality be undone? Larry Summers, Barack Obama's pick to lead the National Economic Council, has worked out the math. If every top 1 percent household — average income: $1.7 million — wrote a check for $800,000, and if all these checks were pooled together, then $10,000 could be sent to every U.S. household making under $120,000 — and Americans would be as economically equal, by income, as they were three decades ago.

Quote of the Week:

“America’s wealthy have benefitted more than anyone else from the stability and safety provided by government, as well as the infrastructure and educated workforce and countless other public goods that make commerce possible. It is entirely fair to ask more from these families than we do from families who are struggling.”Citizens for Tax Justice, Principles for Progressive Taxation During a Recession, December 2008

Ponder these while the U.S. economy continues its death spiral.

Harry Kwanukkahmas!


FredMars said...

Repeal the IRS and there will be plenty of funds available to all. Fees for services and not taxes will pay for programs.

Return to Congressional currency and we won't have to pay private banks interest on the money they now print without asset value.

Prohibit the marginal lending by banks and financial institutions and stabilize mortgages and loans.

Allow individual states to administer support services that serves the best interests of their state instead of a federal program that is costly to facilitate and has too many loopholes for abuse.

Phil said...

I couldn't agree with you more, Fred. Until some fundamental changes take place across a broad spectrum of things that make up the entirety of our so-called capitalist democracy, it'll just be more of the same ol' same ol'.