Majority of us are in ‘losing’ class

Published 12:01 am Friday, October 21, 2011

Some politicians and pundits have said that President Obama’s proposal to increase taxes on millionaires amounts to “class warfare.” Look around, folks. Class warfare has been going on for years and we’re losing. We took a big hit about 10 years ago with the Bush tax cuts. But don’t take my word for

it; look at the evidence.

Eighty percent of our nation’s wealth is now controlled by just 10 percent of the population. The top 1 percent of households take in almost a quarter of all income — the highest percentage since 1929. Billionaires like Warren Buffett pay lower tax rates than most middle class families. The cost of living is going up faster than wages. Fewer workers have a company-provided pension, and many workers with health insurance are being required to pay more for it. Now Social Security and Medicare are under attack. The rich are getting richer while middle class families struggle to maintain their lifestyle and the ranks of the poor continue to grow.

The majority of Americans are on the losing end of this class warfare. I find it amazing that given this situation, Republicans in Congress are proposing that we lower taxes for large corporations and wealthy individuals. Do they really believe this will help the citizens of this country? Or will it just help the wealthy, who make the large political donations necessary for these politicians get re-elected?

Eric Selby
Lake Stevens