King's Economic Solution
"King’s response to our crisis can be put in one word: revolution. A revolution in our priorities, a re-evaluation of our values, a re-invigoration of our public life and a fundamental transformation of our way of thinking and living that promotes a transfer of power from oligarchs and plutocrats to everyday people and ordinary citizens." Cornel West, a philosopher, is a professor at Princeton. New York Times, August 26, 2011
Agreed and here is a start.
- Amend constitution to disallow campaign contributions from unions and corporations.
- Enforce anti-trust laws against oligopolies and monopolies causing a more equitable distribution of income and less outsourcing of jobs.
- Cut "fat" out of every area of budget.
- Raise the limit on income for social security taxes and tax investment income; not just wage income.
- Reduce military spending. Stop being military for the whole world.
- Require all private pension funds to be adequately funded.
- Make a needs test for payment of social security and medicare.
- May have to cut social security and medicare benefits.
- Invest in future now by building and fixing infrastructure that will be needed to compete globally.