Re: “Let’s focus more on creating wealth, less on redistributing it” (Richard Davis column, 9-7).
Davis echoes the cry of the rich everywhere. Yes, but create wealth how, exactly? He’s less forthcoming about that; these days even fat cats, I suspect, are ashamed to promote a theory so thoroughly discredited as trickle-down economics.
Yet that must be what it comes down to, since Davis certainly is not suggesting raising taxes on the wealthy, even though the last time somebody tried that, the nation as a whole experienced a streak of unprecedented prosperity. Remember the Clinton years? It’s been downhill for the vast majority of us ever since, while the rich have increased their worth obscenely.
Davis claims our income tax system “remains highly progressive.” Well, not as progressive as it once was, obviously, or where did the million bucks in Bush tax cuts Rick Steves gave to the symphony come from? Nor does Davis mention the megacorporations paying no income tax at all, thanks again to the largess of Bush and Co.
While I agree it’s swell a few arts organizations are benefiting from the occasional overflow from the warehouses of cash enjoyed by a few, what does that do for the kids being thrown off the public health rolls? Will it fill the potholes rendering our streets increasingly undriveable?
The simple truth: If society is not to crumble entirely, more revenue is needed. And thanks to 30 years of voodoo economics, only the rich have that revenue.