Wednesday, December 05, 2007

Here's A Damn Good Idea

Courtesy of Tom Harper at the blog Who Hijacked Our Country comes news of a bill that would "amend the Internal Revenue Code so that corporations will no longer get tax deductions when they pay 'excessive compensation' to their top executives. If any employee is paid more than 25 times what the lowest-paid employee makes, the money beyond that 2500% mark would not be tax deductible." It's called the Income Equity Act of 2007, and it makes a whole lot of sense to me. The disparity between rich and poor in this country has not been as great as it is now since the Gilded Age. The middle class of this country is being squeezed out, not so slowly but surely, and we are becoming a nation divided into a small group of super-wealthy elite and a permanent, mostly poor, underclass serving them. This bill is just one small step in attempting to rectify that situation.

Of course the plutocrats and the corporate-supporters in both parties will cry foul at this, and the term "class war" is bound to be bandied about by demagogues and obfuscators appealing to the baser emotions of people who should know better, but the truth is that it is that very class of wealthy elites who have been waging a highly successful class war against the poor and the middle class for years now, and it's past time the American people woke up to what is happening to them. If you want to add your voice in support of this bill, go here and fill in the blanks.
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