Prepared by Occupy Washington DC / November 2011 http://october2011.org/blogs/kevin-zeese/99-s-deficit-proposal-how-create-jobs-reduce-wealth-divide-and-control-spending /
The disconnect between Congress and the people is vast. For decades, Congress has been passing laws that benefit the 1%, their campaign donors and big business interests, rather than creating a fair economy that serves all U.S. citizens. With this report Occupy Washington, DC shows that Congress is out of touch with evidence-based solutions, supported by the majority of Americans that can revive the economy, reduce the deficit and wealth divide while creating millions of jobs.
OccupyWashingtonDC.org seeks a major transformation to a participatory democracy in the economy as well as in government. For forty years, concentrated corporate interests have acted with intent to take over government and other institutions. We seek an end to the rule of concentrated wealth and corporate power by shifting control, wealth and ownership to the people.
This report puts forward evidence-based solutions that will re-start the economy and avoid placing financial burdens on future generations. For the most part these ideas are not new. They are well accepted by economists and are consistent with the views of super majorities of Americans on key issues. Further, more than three-quarters of U.S. citizens say the country's economic structure is out of balance and "favors a very small proportion of the rich over the rest of the country." They are right. The solutions to our economic crisis are evident but they are blocked by those who profit from the status quo and control elected officials through the corrupt U.S. political system and its money-based elections.
The elites in Washington, DC seek to erase deficits that were caused by increases in war and military spending, tax breaks for the wealthy and corporations, the increased cost of health care, as well as bank bailouts, and increased costs and lost revenue from the economic collapse. The bi-partisan elites seek to cut $1.2 trillion in deficits even though there is no outcry for such cuts or evidence in the economy that they are urgently needed. They are proposing cuts in services to seniors, students, the poor and middle-working class households who did not cause the crash but already suffer from its consequences. This report shows that we can get the economy moving, reduce the wealth divide and control government spending while helping the 99%.
This report should not be considered the demand of the Occupy Movement. It was prepared [1] by one Occupation, Freedom Plaza in Washington, DC and it does not reflect even that Occupation's full demands. Most of this report provides solutions to the deficit questions the Congressional Super Committee is attempting to address while also re-starting the economy. The difference between the Occupied Super Committee report and the Congressional Super Committee report will be stark and further demonstrate the corruption and dysfunction of government. While this report's recommendations would benefit the 99%, the report that will come out of the congressional Super Committee will benefit the 1%.
Creating a Fair Tax System That Shrinks the Wealth Divide
The United States does not have a lack of financial resources; it has an intentionally unfair distribution of resources. The federal income tax has become less progressive and the rate paid by the wealthiest has been cut dramatically in recent decades. From 1944 through 1951, the highest marginal tax rate for individuals was 91%, increasing to 92% for 1952 and 1953, and reverting to 91% for tax years 1954 through 1963. In 1964, the top marginal tax rate for individuals was 77%. From 1965 through 1981 the top rate was 70%. The top marginal tax rate was lowered to 50% for tax years 1982 through 1986 and today it is just 35%.
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