It is time for the wealthy to pay their fair share in taxes to fund new investments in America.
Building infrastructure and creating jobs for a sustainable economic future for South Carolina.
It is just common sense to invest in creating good paying jobs for hard-working Americans. Congress must give incentives to companies to keep good American jobs in America. We must end tax breaks for companies that relocate overseas and strengthen tax breaks for companies that invest in America. We need to require “buy American” provisions to federal contracts.
Since the Great Recession of 2008, we,ve had 70 months of job growth, yet millions of people have been left behind. More than 60% of the profits have gone to the wealthiest 1%, while one quarter of our children live in poverty. Fifty million Americans are not sure when they will eat their next meal. Our middle class is shrinking and nearly half of our retirees have no savings. Student debt exceeds credit card debt and our minimum wage traps families in poverty and despair. Our economic inequality is the worst since 1928. Our big banks are still too big to fail, too big to understand and too big to regulate. From climate change, to 29 million Americans lacking health coverage, to mass incarceration, to a failed drug policy—enough is enough!
Our elections have become auctions—the wealthiest 1% put in 98% of the money. Publicly financed elections are vital to reclaim our democracy, and to limit the size of government. This Congress has accomplished less than most in many decades. They have forgotten that President Reagan believed that civility and compromise were common sense and that gridlock was just grandstanding.
An economy worthy of our ideals, in an increasingly competitive global economy, will demand that we enforce pay equity and increase the minimum wage until it becomes a living wage. This will also require that we spend more in education, including making public colleges affordable again.
We need a 21st century infrastructure.
The recent flooding last fall made clear the need to repair our roads, bridges, dams, water systems, and levees. Investments in infrastructure yield about $1.60 for each $1 invested. The longer we wait to improve our public infrastructure, the more dangerous and expensive it gets. Right now, interest rates are low, the improvements are sorely needed, and millions of good jobs can be created as we rebuild roads, ports, airports, public schools, public housing, and a new electrical grid to allow sustainable energy to move from the countryside to the cities.
Our banks are still too big to fail, but they are also too big to understand and regulate.
Despite everything we learned from the crashes in 2007 and 2008, our banks are still too big to fail, still too big to understand, and still too big to regulate. They need to be broken up and regulated to prevent the abuses that created the disasters of 2007. Congress must restore the Glass-Steagall Act, which separated commercial banking from investment banking. Small, publicly funded banks, run by the community, are better able to fund small businesses, creating thousands of jobs in our communities. Merging large chains of banks into massive megabanks may be cost-effective for them and for their shareholders - but that does NOT make it more efficient for you.
The wealthiest 1% have gotten 60% of the wealth since the Great Recession. Main Street bailed out Wall Street, and now Wall Street must support America! It is time for the wealthy to pay their fair share in taxes to fund new investments in America. Congress must cut waste and fraud, as well as pass stronger incentives for investing in American factories and sustainable energy.
These investments in America, to create jobs and security, are being fought by the wealthiest 1% — who put 98% of the money into our political campaigns. But, organized money can be defeated by organized people. Voting is a critical part of this change. If we stand together, we can create a government that works for all of us. The Citizens United ruling is a threat to our republic and must be overturned.