Balance the Budget on the Backs of Billionaires

[Donnachaidh]

http://smirkingchimp.com/thread/david-swanson/37417/balance-the-budget-on-the-backs-of-billionaires

The wealthiest nation on earth is not actually obliged to starve our senior citizens. We don't need a military 670% more expensive than the next largest one on earth. We don't need to fund health insurance corporations instead of healthcare. And we don't need tax breaks for billionaires. In fact, we don't need billionaires. That's the message RootsAction is taking to Congress.

Forbes magazine has been listing the 400 wealthiest Americans every year since 1982. Thirteen billionaires appeared on the original Forbes list. Now all 400 rate billionaire status. These 400, collectively, possess more wealth than the poorer half of America's population put together. Sam Pizzigati explains how we got here.

The United States now has a level of inequality that shocks much of the world. If Washington wants to balance its budget, it should do so on the backs of these 400 people, not the hundreds of millions of us who can't afford it. Tax these billionaires into non-billionaires, and Washington's financial worries -- and our economic worries -- will be gone for generations to come. The vast majority of us favor this approach.

Only 1 percent of us are millionaires, with an "m". Each billionaire has a thousand times that much money, or more. Sixty-six percent of senators are millionaires, as are 41 percent of House members, but they aren't billionaires. They just work for them.

More at the link --

[DCKit]

1. Brown noser. You know you'll get no argument here. nt