To Whom it may concern,
America was created on the idea that liberty and justice was given for all who came. The idea that we shall be treated equally, no matter our race, sex or wealth. That freedom should not be earned, but a given; and that the pursuit of happiness should be available to not just the top 1% , but the other 99% of Americans as well.
The America today has come closer to these ideas in some ways; but most agree that we have grown farther farther from it in others. Growing up in the idealistic middle class life, I understood what it was like to struggle for money at a very young age. I remember one day after school I found my parents arguing; something that was quite uncommon for them. Later that night my mother and father sat my siblings and I down. My dad didn't say much, he just shook his head beneath his palm. I remember my mom telling us that we were going to be a little tight on money for a while, but that we were going to be okay. A couple years later, after my family recouped and started having a steady income again, I found that at that tragic time in my family’s life was during what I now know to be the 2008 Financial Crisis.
We suffered during the 2008 Crisis, not just “we” in the sense of my immediate family, but “we” as in the middle class. When looking at recent charts, the tax rates show that the years leading up to the 2008 Financial Crisis were what most people agree, quite high.
Authors' calculations based on SSA (2010a, 2010b, 2010c) and BLS (no date)
During this time many lost their homes, their jobs, even their family; but while the middle class suffered, the top 1% remained untouched. Now, not all remained untouched; yes, some of the wealthy did suffer, but not nearly as much as the rest.
We all know that the middle class is shrinking because of the taxes put on them; But what the wealthy don't quite realize though is that the working, middle class holds up the rich. The trickle system does not work because the wealth is only “trickling” one way.
Change in income, 1979–2012:
Top 1%'s share of all growth: 88.5%
The middle class has to give money to the top 1% , so If we could lower the taxes on the middle class, and then increase the taxes on the wealthy, the economy can flow both ways. You may ask, “how do we know the middle class won't become the next 1%” ? Well the middle class is the working class, so tax breaks won't let the middle class hoard the wealth, because we have to work for every penny we are, so we have to let the wealth flow both ways.
You may be thinking, “how does this relate to america today?” Well, you see, recent taxes on the middle class is starting to follow the same pattern that lead up to the 2008 Financial crisis.
So I ask you, “What is our taxes today leading up to?” will there be another financial crisis, another great depression, or even a world war three? I know it might seem a bit extreme, but all extreme things have subtle problems leading up to it. If there is something coming up that we don't want, we need to embrace that fact that we do have the power to stop it. Even though you do have the power to prevent it, you also have the power to turn the other cheek and let our economy collapse.