The federal government gives handouts, that is, economic benefits that are unearned, to many citizens. Most criticism of these handouts is concentrated on the poor for food stamps, subsidized housing and Medicaid.
However, many such benefits go to wealthy Americans, probably because they are able to provide campaign contributions and lucrative jobs to members of Congress. Meanwhile, those of us in the middle of the income distribution get nothing.
The many government handouts to the rich include a capital gains income tax rate (20 percent) that is below the rates most of us pay and overwhelmingly benefits high-income people, and rules that allow corporations to shift much of the income that they earn in the U.S. to countries with very low tax rates.
These kinds of breaks have allowed the top 1 percent to accumulate 40 percent of the nation’s wealth, while paying only 20 percent of its tax burden. Meanwhile, middle-income folks are forced to pick up the rest of the tab for running the country.
If we are tired of doing this, we should express our displeasure at the polls.
The Republican National Committee just voted to ban NBC and CNN from covering the 2016 Republican presidential debates.
I guess now we’ll have to watch the Republican debates on Comedy Central.