NEWS & VIEWS OF PHILLIPS SINCE 1976
Tuesday July 5th 2022

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By PETER MOLENAAR

“The Rich Really Do Pay Lower Taxes Than You!” Such was a recent caption in the New York Times. For the first time, thanks to Trump”™s tax cut, the 400 wealthiest Americans now pay a lower overall tax rate than any other income group”¦ and some folks had the gaul to steal the election by casting their votes!

Actually, wages have always been taxed at a higher rate than stock dividends, etc. Naturally then, for generations the ruling class has spawned progeny who inherit the lot without lifting a finger. Never mind that the value of a commodity is determined by the socially necessary labor time embodied in it, i.e., labor is the source of all wealth.

What”™s this got to do with our neighborhood? Think “build back better” jobs, and note: the East Phillips Urban Farm has received something of a green light”¦ but what? The Republican Party is working overtime to blunt Biden”™s infrastructure vision in favor of “no new taxes”. How then will a marketing professional and technical staff be paid if and when the farm is launched?

The idea that capital gains taxes should be raised to the level of taxes on wages is a modest one. Even so, Republicans are keen to smash it and thereby blunt the rebuilding of our nation. 

Standing to the left of Biden are senators Elizabeth Warren and Bernie Sanders who, with the support of progressive congress persons (note: Ilhan Omar is once again functioning under death threats) have proposed a special tax bracket for “ultra-millionaires”. The measure would provide some $3 trillion over 10 years for our people”¦ but no, not a chance with Republicans sucking up air.

Obviously, were we in a revolutionary situation, the call for outright expropriation would be the patriot”™s demand. However, for the time being, two suggestions: 1.) elected representatives who retain a modicum of integrity should be hosting town halls for the elaboration of theS present situation and 2.) our left/progressive forces should be holding regular street corner rallies featuring the slogan: TAX THE RICH.

A billionaire named Buffet has described what”™s at stake: “There”™s been class warfare going on”¦ my class has won.” Oh no, Brother, the struggle has just begun.

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