The two Americas

MANIFESTO

While I realize that virtually all the commentary lately has been about Iraq, the surge, and the presidential candidates' reactions to same, I think the story of the day is the following:

[T]he richest 1% of Americans in 2006 garnered the highest share of the nation's adjusted gross income for two decades, and possibly the highest since 1929, according to Internal Revenue Service data.

Meanwhile, the average tax rate of the wealthiest 1% fell to its lowest level in at least 18 years ...

According to the figures, the richest 1% reported 22% of the nation's total adjusted gross income in 2006.

It's all well and good to talk about the effects of a military strategy adopted seventeen months ago, but the truth of the matter is that, on a day to day basis, the incredible economic inequity in the US is a much more bothersome situation. To my mind, it's the most discouraging—and most important—aspect of the modern-day US. (It's also the reason I still believe that the mainstream politician whose philosophy is closest to mine is John Edwards.)

One can only hope that this egregious situation will be ameliorated in some way after January. It certainly won't occur if Senator Septuagenarian is elected as he's "proposed extending the lower tax rates of 15% on long-term capital gains and dividends that apply" to his plutocratic buddies.