Income inequality is the biggest internal threat facing our country. Our middle class is shrinking—currently, the top 1% of Americans own 40% of the nation’s wealth while the bottom 80% of Americans share only 10%.
Until recently, the American Dream meant that those who are willing to work the hardest could move beyond the economic class in which they were born. At present this is nearly impossible. Our system can be fixed, however, with a multi-pronged approach:
1) Raise the minimum wage to $15 an hour and tie future increases to inflation. This would create more consumers, allow people to support themselves and their children, and reduce the number of people needing government assistance.
2) Institute a sensible tax system. The Tax Cut Act of 2017 contained temporary deductions for the middle and lower classes. Because taxes are scheduled to increase significantly in future years, however, the initial cuts amount to nothing more than a payday loan. The tax cut should be permanent for those with incomes below $400,000; those making more than that should pay their fair share. A higher tax on the top .1% will allow us to finally begin addressing our national debt. Furthermore, corporate tax loopholes must be closed because at present they allow many profitable companies to avoid paying taxes altogether.
3) Improve our nation’s transportation, internet, and energy infrastructure to ensure a future of meaningful, well-paying jobs for all Americans. Ultimately, every American deserves the opportunity to work in a stable field.
Our nation’s position of leadership in the world is based chiefly on our economic success, and every policy we enact has an impact. Through understanding these interconnected ideas, we can forge a stable future.
Committee to Elect Chuck Enderlin
P.O. Box 1174 Newnan, GA 30264