Middle class dwindling

Recent demonstrations in New York and other cities are not only protesting the greed of our financial institutions but are a clear outcry against the growing inequality of wealth in this country. With the 400 richest Americans having more wealth than half of all Americans, our middle class is being virtually wiped out.

Once the great middle class society, America now has the greatest degree of inequality among high-income democracies – the top 1 percent of households take almost a quarter of all household income – not seen since the 1920s. Great profits are being earned and kept abroad, and major corporations are continuing to outsource jobs. At home, workers with lower skills and education are being squeezed by competition from overseas.

The Republicans and their tea party allies want to cut taxes and slash government spending. They claim that taxes and regulations are killing job creation, although many countries with much higher taxes and stiffer corporate regulations have much higher employment rates than the United States.

To rebuild the American middle class, we must make long-term public investments in education and infrastructure allowing our people to compete in a global economy.

James W. Ramsey

Sandpoint