Since 1990, the number of billionaires has risen from about 70 to nearly 700. Those additional billionaires have not sprung from the middle or working classes, but from the already rich. Republican policies have allowed some millionaires to become billionaires - and some billionaires to become multi-billionaires (and approach trillionaire status).
We are fast becoming a nation of haves and have-nots. While the rich get much richer, the middle class is shrinking as it struggles to stay up with inflation, and the working class is falling behind.
In the midst of this, President Biden says he wants to raise taxes - not of the working and middle classes (or anyone making less than $400,000). Taxes would be raised on only the rich, and especially the super-rich.
And it looks like most Americans agree with the president. About 61% say taxes should be raised on those making above $400,000 (see the chart below), while only 20% want to keep those taxes at current levels and 17% would like to see the taxes on the rich lowered.
The president is right. It is obscene that a few should be ridiculously rich while most Americans struggle. The rich should pay more in taxes, especially the billionaires - who already have more money than they could possibly spend.
It comes down to this: Do we want a country where all citizens can thrive, or a country where only a few can be rich at the expense of all others?
If you prefer the former, then you must vote Democratic in November. The Republicans care only for the rich, and their failed economic policies would just make things worse for most Americans.
