Nader/Gonzalez on Fiscal Issues
The complexity and distortions of the federal tax code produces distributions of tax incidence and payroll tax burdens that are skewed in favor of the wealthy and the corporations further garnished by tax shelters, insufficient enforcement and other avoidances.
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The United States needs a redirected federal budget that adequately funds crucial priorities like infrastructure, transit and other public works, schools, clinics, libraries, forests, parks, sustainable energy and pollution controls.
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In late September, Senator Obama said to the Democrats – vote for the bailout. Senator McCain said to the Republicans – vote for the bailout. President Bush said to the Congress – vote for the bailout.
But the American people were fed up. They told their members of Congress – if you vote for the bailout, we will vote against you.
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Since January 2001, 2.7 million jobs have been lost and more than 75% of those jobs have been high wage, high productivity, manufacturing jobs. Overall 5.6% of Americans are unemployed while 10.5% of African Americans are unemployed. Unemployment among Latinos is nearly 30 per cent higher than January 20, 2001.
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As the wealthiest country in the world, with high productivity per capita, a country that produces an abundance of capital, credit, technology and food, we can end poverty. Yet, according to the Bureau of the Census, poverty and hunger for children and adults is increasing rather than decreasing -- 34.6 million Americans lived in deep poverty, 12.1% of the U.S. population.
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