Everyone is talking about Democratic Party messaging. Here’s a message, Democrats are the party of fiscal responsibility for all. Our forefathers left the British monarchy to establish a more equitable nation for the people. But 245 years later, we have come full circle to a wealthy elitist ruling class, largely due to the GOP policies.
Due to his amped-up versions of GOP policies such as market deregulation, repealing labor regulations, and tax cuts in favor of the wealthiest, under Trump, income inequality grew at a faster rate than any of the last five administrations, and that was before COVID. But after just 10 months under Biden, unemployment is down to 4.6%, with more jobs created than any other president, and wages are up 11.2% for leisure and hospitality workers.
And yet, Mainstream Media (MSM) continues to propogate GOP dog-whistle words communism and socialism. Democrats aren’t asking for the redistribution of wealth. We just want to have the wealthiest and Big Business pay their fair share.
The average American pays a 13.3%, while the wealthiest pay an average of 8.2%. That doesn’t even take into consideration regressive taxes, such as sales tax, gas tax, at the same rate for everyone, and therefore disproportionally higher as a percentage of income for lower income classes. Meanwhile corporations pay next to nothing in taxes while wearing down the infrastructure, and skirting costs for their damage done pillaging our resources.
Biden’s newly passed infrastructure plan invests $550 billion over five years and will pay for itself without increasing taxes. This is simple math that every American should understand. Still some Republicans take issue with the bill, citing no legitimate reason, all but 13 voted against it. Back in August zero Senate Republicans voted for the bill, while all 50 Democrats voted for it, including Senator Joe Manchin.
This week, Manchin was swarmed by climate activists driving his Maserati from his garage to his yacht. Manchin is the father of big pharma CEO whose company donates to Republican super-PACs, raised the price of EpiPens by 600%, and moved the company overseas to avoid US taxes just voted for it.
Fiscal conservatives insist on a simplified tax code to lower corporate tax to a more competitive rate. All the more reason President Biden is working on an agreement for a 15% global minimum tax rate on corporations. Like I said, the message should be Democrats are the party of fiscal responsibility for all.
Chicago native Lorraine Evanoff earned her degree in French from DePaul University then became a Certified Financial Manager. She worked as a finance exec in film production for seven years in Paris, then in Silicon Valley during the dot-com era, and later for various Hollywood production companies, notably as CFO of National Lampoon. She is currently living in Los Angeles with her husband.