I read a letter to the editor the other day about takers and makers. It suggested that takers are the poor, the hungry, the sick, the homeless, the jobless, all who receive government aid, and that it is their fault for the big mess we are in. And the makers, which I assume are the money makers, are the ones who can save the country.
But I believe the writer missed it. It is the money makers who are the real takers and the cause of our financial demise. The money makers speculate on everything we need: our housing, our fuel, our food. As a result, we all must pay more so they can take more. It is worse than taxes, because taxes go to benefit everyone, but the capital gains of the money makers takers goes into their big pockets.
One person does not become poor when someone becomes wealthy, but vast numbers have to pay more in many ways so the maker/taker can get rich. The takers were the financial giants who lost billions and got billions in tax dollars to save their firms and then turned around and gave themselves millions in bonuses. Bonuses that we all now owe a debt on.
We need to restore the top marginal tax rates and capital gains rates to the rates of the 1950s and 1960s when the country was booming. These rates are currently lower than any time from 1935-1985 and drive up the deficits and prices because of the takers speculation.
We absolutely need to cut spending and balance the budget but if we don’t increase revenues, the needed cuts in government jobs will continue to be a drag on economic recovery.