A recent financial investor report issued by non-partisan economists at Standard & Poor’s rating service, concluded that slow US economic growth is directly attributable to income inequality. This is no left of center political organization and they are not driven by ideology. S&P helps investors make money, so what they say shouldn’t be taken lightly. Today they warn that income inequality in the US is at its highest levels since the 1920’s and this inequality is dampening US GDP growth “at a time when the worlds biggest economy is struggling to recover from the Great Recession and the governments need to support an aging population.” S&P economists are just informing investors of where the US economy is headed. They go on to say that there isn’t enough demand for goods and services to maintain strong economic growth because the middle class doesn’t have the purchasing power needed to drive our economy. They warn, that high income inequality can feed on itself, as the wealthy use their resources to influence the political system toward policies that help maintain that advantage, like low tax rates on high incomes, tax avoidance loop holes, subsidies for corporations, and low estate taxes, and under investment in education and infrastructure.
Sound eerily familiar to what’s been going on in the US over the last 3 decades? Sure does.
Today one political party, the GOP is pushing an ideology of more tax cuts for the rich & corporations, keeping their generous tax loopholes and subsidies, and refusing to revise the outdated tax code. They oppose any efforts for campaign finance reform and getting secret money out of our elections. Do you ever wonder who is paying for all those misleading commercials? The GOP also opposes raising the minimum wage, supports privatizing Social Security, supports turning Medicare into a premium support voucher program, while slashing funding for programs that actually help the poor & middle class. They also promise to dismantle the NLRB, it’s part of their war on unions and labor and keeping US wages low. They are also against efforts to lower interest rates for student loans. Why would they want to make it harder to get a good education? S&P concludes that investment in education would add 2.4% annually to our GDP growth over the next 5 years.
Then why would the GOP support spending cuts to education and our crumbling infrastructure, if it would help improve our economy? So do they really care about it? Then they have the gall to say ” where are the jobs” then blame the President for slow economic growth caused by the policies they so strongly support.
Without coming out and saying it, this S&P report clearly points a finger at the flawed GOP policies of trickle down economics, and cuts to education and infrastructure. Without a doubt, the future of our country’s middle class isn’t a top priority for the GOP. The just play lip service to their constituents, while catering to the powerful and secret donors that play them like a fiddle, while the American Dream is burning.
The results of the this mid term election guarantees this trend will continue, sadly at your expense.
House candidate for Strafford District 10