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Letter: A new brand


Saturday, December 30, 2017
A new brand

Wealthy interests have cashed in political IOUs for a tax windfall – courtesy of their Republican minions – in a process that was rushed and lacked transparency. As though they need it: Corporations are already sitting on $2.3 trillion in cash reserves and the richest 1 percent of Americans hold 40 percent of the country’s individual wealth.

Champagne corks are popping in corporate boardrooms. Net neutrality is history. Protections for consumers, workers, the environment and fair competition (a.k.a. “regulations”) are being swept away. Billionaire Cabinet members subvert their office missions. Unchecked monopolistic behavior undermines competition. The fiduciary rule is put off – Wall Street trumps Main Street again.

Self-serving propaganda includes such chestnuts as “job-creators,” “death tax” and “trickle down.” Don’t you marvel at their successful promotion of voter suppression laws (targeting minorities, students and the poor) with no evidence of voter fraud, yet are able to stop action on global warming despite overwhelming evidence?

Yes, wealth will continue to flow upward, and thanks to good tax lawyers, offshore tax havens and a gutted estate tax, it will stay there. No perceived need to pay their fair share to the country that made their wealth possible.

But sacrifices must be made. “Entitlements” for the middle class and the poor (i.e. Social Security, Medicare, Medicaid, health care subsidies) will have to be cut to compensate for the deficit-creating tax cuts. Health care will return to being a privilege.

What should we call our nation’s new brand? Do you favor oligarchy, plutocracy or corporatocracy?

ALLAN MacDONALD

New London