Wealth inequality in the United States has reached levels that should concern every American. While millions of working families struggle to afford housing, healthcare, childcare and higher education, a small percentage of the population continues to accumulate enormous wealth at a historic pace.
Hard work should provide stability and opportunity, yet many full-time workers live paycheck to paycheck. At the same time, large corporations and the wealthiest Americans often benefit from tax loopholes and economic policies that widen the gap between rich and poor.
Historically, the top federal income tax rate in 1965 was 70%. Today, the top federal rate is 37%, and the top corporate tax rate is 21%, down from more than 50% in the 1960s. These substantial reductions in tax rates for high earners and corporations occurred over several decades, including during the Reagan, Bush and Trump administrations.
Extreme inequality weakens our democracy and undermines social trust. A healthy economy depends on a strong middle class, fair wages, affordable education and equal opportunity.
We should support policies that empower workers, ensure fair taxation, expand access to healthcare and education, and create economic opportunity for everyone – not just those at the top.
America succeeds when prosperity is shared more broadly. It is time to address wealth inequality before the divide grows even larger. Please reach out to your elected officials and urge them to pursue a fairer tax system, reduce inequality and address our growing federal debt.
Jon Miller
Durango
