Tuesday, September 23, 2008

Payback time

I think it's time we all recognize that we haven't had a functional democracy for quite some time now. Stupid wars, devastated cities, financial collapse. No one even remotely accountable. What more evidence do you need. Men in uniforms? Well, it's not a junta. Not yet. We are currently "governed" by an oligarchy. One that exists to enable kleptomaniacs.

We will soon have given more than a trillion dollars to millionaires and billionaires while as recently as last year we reportedly could not afford $7 million dollars to help needy children get health care. And the recipients of our wealth are those who have already gamed the system to become fabulously wealthy.

Note that no one has broached the subject of actually making the millionaires and billionaires pay for the calamity they have caused. There's talk of making a few settle for millions in salary rather than tens of millions, but it goes no farther than that.

In a democracy we would tax those people back to reality. Those who have profited so handsomely from looting our economy would have a special 90 percent tax bracket in place until the costs are covered. Capital gains would be taxed at least as much as earned income. And sensible estate taxes would keep them from setting their children up to be inordinately wealthy without having to earn a penny.