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To the Editor:
Why is it when tax relief is proposed for the bottom 95 percent of taxpayers it is class warfare, yet when the top 2 percent get tax breaks it isn’t? Since 2001, the 400 wealthiest households saw an increase in wealth of $670 billion, while the bottom 90 percent of households saw their wealth and wages stagnate and even decrease. Isn’t that redistribution of wealth? It is obvious who has declared a class war on whom.
FDR called them “economic royalists” and was labeled a socialist for trying to take away their power. FDR knew that putting people to work rebuilding the infrastructure and industry of this country was necessary for America to recover from the damage the economic royalists had caused. Something similar is desperately needed now. These jobs not only added permanent common wealth, it created demand for goods, which created even more jobs. “Trickle up” policies illustrate a fundamental economic principle — aggregate demand, not concentrated wealth, create jobs.
Demand has been systematically destroyed by Republican “trickle down” economics and “flat world” trade policies that reward companies for off-shoring jobs, destroying aggregate demand and our economy along with it.
Barack Obama does not offer all the answers to our problems, he only offers a step back from the brink and the possibility of a new economy that is built from the bottom up, rather than dictated from the top down. I hope you will join me in voting for positive change in our country.
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