Today the economic disparities facing our citizens are far greater than ever before. Our nation is threatened by extreme imbalances of personal and gross concentrations of corporate wealth. Under the present levels of federal income and estate taxes, such concentrations of wealth have become obscene.
It is obscene that last year three hedge managers exploded their incomes to more than $1 billion. It is obscene that heads of several investment firms, banks and corporations were paid in the $l00 million and even $200 million range. It is obscene that even the heads of our largest HMOs were awarded by their boards incomes of $10-, $20-, and even over $30 million per year. Such obscenities prostitute the sense of fairness and equity essential to the survival of our democracy.
The worst obscenity is our grossly unfair federal tax structure. Bad as it was, it was significantly tilted at the behest of President Bush to inordinately favor the wealthiest in our society.
Grossly obscene is the fact that our federal income tax system levies a heavier percentage of taxes on the lower middle class than it does on our wealthiest. These obscenities must be erased by our next president and Congress.
It is obscene that last year three hedge managers exploded their incomes to more than $1 billion. It is obscene that heads of several investment firms, banks and corporations were paid in the $l00 million and even $200 million range. It is obscene that even the heads of our largest HMOs were awarded by their boards incomes of $10-, $20-, and even over $30 million per year. Such obscenities prostitute the sense of fairness and equity essential to the survival of our democracy.
The worst obscenity is our grossly unfair federal tax structure. Bad as it was, it was significantly tilted at the behest of President Bush to inordinately favor the wealthiest in our society.
Grossly obscene is the fact that our federal income tax system levies a heavier percentage of taxes on the lower middle class than it does on our wealthiest. These obscenities must be erased by our next president and Congress.
