We’re taught in business classes that businesses and their employees pay taxes that the federal government and local communities use to build hospitals, schools, libraries, playgrounds, roads, and other public facilities. These taxes also help to support people in need and the environment, provide police and fire protection. That the wealth of business help support communities and the standard of living and quality of life for everyone in our country.
Why do some individuals and businesses think they should be exempt or not pay as much as others when they produce a significant amount more? Do they not use the same police, fire departments, libraries, playgrounds, roads and hospitals as the rest of us?
The lowest paid is the minimum wage workers, who refer to themselves as wage slaves. In a recent interview, “Plutocrats” author Chrystia Freeland told of interviews she did with the wealthiest 1 percent while doing research for her book. She told how one billionaire elitist said the lowest paid American worker was the most overpaid person on the planet. Another boasted of how Chinese workers were paid 1/14th of what Americans were paid and if Americans didn’t increase their productivity by 14 percent, they should have their pay cut. She told of a hedge-fund manager who said he was concerned for his friends’ retirement, they only had $10 million. We are at the dawn of a new Gilded Age.
Romney said that 7.8 percent unemployment represented a bad economy. The average unemployment rate of their conservative god Ronald Reagan was 7.9 percent. The private sector’s doing well, it’s the public sector that’s shedding jobs because Republican governors and lawmakers won’t raise taxes on their wealthy donors and lay off teachers and public employees. Even Reagan raised taxes.
Sensata Technologies in Freeport, Illinois is closing Dec. 31 and all the jobs are going to China. Romney claims he doesn’t like seeing jobs go to China, but he won’t lift a finger to stop Bain Capital, who he still draws a check from, from doing this.