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“Ever since former President George H.W. Bush coined the phrase to criticize then-candidate President Ronald Reagan’s tax policies, Democrats and progressives have been accusing Republicans of “voodoo economics.” They are right to do so. The oft-repeated mantra that tax cuts for the rich will trickle down to help all of us, most recently heard in the Trump White House’s claim that his trillion dollar tax cut for corporations would give each worker a $4,000 raise, keeps coming up empty.
“Supply-side economics” seems to work only for those with a ready supply of wealth. Forty years of voodoo have left America with skyrocketing debts that cripple present and future policy, while workers keep paying more and more taxes. Americans deserve more honesty and responsibility when politicians talk about the people’s pocketbooks.
Which is where the wealth tax and other proposals coming from the Democrats’ left wing, Senators Elizabeth Warren and Bernie Sanders, come in. It isn’t that wealth inequality isn’t a massive and growing problem in America. It is, perhaps at the root of all our problems. And it is not that a wealth tax is not a serious proposal to address this serious problem. It is.”
JJ Editor's Picks
"U.S. President Donald Trump thinks he’s suffered more injustice than the alleged witches of Salem, but it could be worse. Pakistan’s former president Pervez Musharaff faced possible impeachment in 2008, leading to his resignation. In the end..."
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"A few months ago, the New York Post’s Steve Cuozzo bemoaned the death of the Manhattan power lunch. Gone were the long, decadent afternoons filled with networking and Negronis: “Suit-and-tie-wearing machers in media and Wall Street gave way to..."
"Economic inequality has moved to the top of the political agenda in many countries, including free-market poster children like the US and the UK. The issue is mobilizing the left and causing headaches on the right, where wealth has long been..."
"If you’re not familiar with the Andrew Lloyd Webber musical Cats — or even if you are — then you probably have many, many questions going into the film adaptation this weekend, especially if you’ve witnessed the widespread bafflement the trailer..."
"Despite his precisely targeted campaign and some unexpected support, the chances of Gideon Saar engineering a surprise defeat of Prime Minister Benjamin Netanyahu in the Dec. 26 primaries for the Likud party leadership are still considered modest.."
"Peter Thiel is Big Tech’s most prominent Trump supporter. He is an unabashed enemy of the free press, having covertly funded a lawsuit that bankrupted Gawker three years ago. He has become one of the most vocal pro-monopoly advocates, taking a..."