The top 1% of Americans own around 32.1% of the country’s total wealth, the 90% to 99% own around 37.7%, the 50% to 90% own around 28%, and the bottom 50% own around 2.6% of the country’s total wealth. We have not seen this level of inequality since the early 1900s and the robber barons of the Gilded Age. At that time, extreme inequality lead to the Great Depression, which in turn led to Hitler, Stalin and Mussolini. It is said “those who fail to learn from history are doomed to repeat it.” We do not want to repeat that terrible time in history.
Tax cuts for big corporations and the ultra wealthy have significantly eroded the middle class. The ultra rich are getting richer and the rest of us are getting poorer. In 2020, the median wage increased by $26, but for those making over a million dollars, the increase was $330,000.
We must demand a fair taxation system from our government. Everyone and every corporation should pay their fair share of taxes, no exceptions. Congress must undo the damage done by these tax cuts.
Julia Bojalad
North Huntingdon