Atlantis Alumni

Monday, November 21, 2011

Occupy Philadelphia Day 47

Sunday was National Transgender Remembrance Day. Queer Occupy Philadelphia members held their very first direct action Sunday evening...a march through the gayborhood during which they signed up new members for Philadelphia Rage, and organization dedicated to ending violence against transgendered people. The Occupation site in Philadelphia now has fewer tents. Some people have left to avoid having their tents and psssessions confiscated should the city conduct a raid. Dilworth Plaza has the feeling of something coming to an end. Hopefully what ends will only be the encampment, and the movement will continue on and strengthen. There is an excellent article from Forbes available on line today that makes the point that the Bush tax cuts especially capital gains rates is the reason for the expolsion in economic inequality in this country.
Capital gains are the key ingredient of income disparity in the US-- and the force behind the winner takes all mantra of our economic system. If you want to even out earning power in the U.S, you have to raise the 15% capital gains tax...It's crystal clear that the Bush tax reduction on capital gains and dividend income in 2003 was the cutting edge policy that has created the immense increase in net worth of corporate executives, Wall St. professionals and other entrepreneurs...The facts are clear according to the Congressional Budget Office more than 80% of the increase in income inequality was the result of an increase in the share of household income from capital gains...I commend you to the late Justice Louis Brandeis warning to the nation that " We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both." We have to make up our minds to restore a higher, fairer capital gains tax to the wealthiest investor class-- or ultimately face increased social unrest.

No comments: