“Even as House Budget Committee Chairman Paul Ryan’s budget would impose trillions of dollars in spending cuts, at least 62 percent of which would come from low-income programs, it would enact new tax cuts that would provide huge windfalls to households at the top of the income scale. New analysis by the Urban-Brookings Tax Policy Center (TPC) finds that people earning more than $1 million a year would receive $265,000 apiece in new tax cuts, on average, on top of the $129,000 they would receive from the Ryan budget’s extension of President Bush’s tax cuts.”
While the Republican platform essentially betters those who have made it, the Democratic platform essentially redistributes the property earnings of those who have made to those who have not to enable them to partially share in economic prosperity, though at the bottom levels of society.
People everywhere need to wake up to the fact that the economic system has shackled 99 percent of us to the powerlessness, propertylessness and hopelessness of economic slavery. The global economy—a power-concentrating, corrupt and baffling triad of monopoly capitalism, socialism and welfare statism––is burdened by unsustainable and non-productive debt, under-employment of people, under-utilization of advanced technologies, and under-funded entitlements.
To save America and other market economies from financial disaster, the economic system must change and be based on sustainable growth, economic liberty and justice by lifting artificial and unjust legal and institutional barriers to equal productive capital ownership opportunities for every person.
