August 26, 2011

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.

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