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Democratic proposals boost middle class

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Trump supporters, I would argue, are mistaken in believing that the economy is good and that supporting him will improve their lot in life.

Recent reports that the economy is good because GDP – Gross Domestic Product - is up may be true for corporations trading on Wall Street, but is not necessarily true for average American families living on Main Street.

Using only GDP to gauge the economy is a 100-year-old, outdated measure of the economic wellbeing of middle class and working class Americans.

Trump is instead making the lives of 99% of us more difficult.

His trade tariffs, to take one example, are costing every American family $800 per year.

American consumers have been paying for his tariffs at a rate of $1.4 billion per month by paying higher prices for foreign goods, according to The Federal Reserve Bank.

He is also strengthening the corporate stranglehold on American families with across-the-board corporate deregulation, low-to-no corporate tax policy, job cutting and other pro-corporate policies and pro-corporate federal judge appointments, confirmed by his narrow Republican majority in the U.S. Senate.

Democratic Presidential candidates, on the other hand, have better ideas for the future of the American economy, a future that belongs to all Americans not just Wall Street-traded corporations without any allegiance to the United States.

Here is what U.S. Sen. Elizabeth Warren had to say recently in Concord, New Hampshire about a proposal to add a 2 cents, or 2%, tax on every dollar of assets over $50 million that the wealthiest families own: “ You built a great fortune in America, good for you, but, you built it in part with labor we all helped pay to educate... on getting your goods to market on roads and bridges all of us paid to build. You built it in part with the protection of police and fire fighters we all helped pay the salaries for.

“As Americans, we are glad to do it... But, when you make it really, really, big, pitch in 2 cents so everybody else has a chance to make it in America.

“With a 2- cent wealth tax on the top one-tenth of the top one percent, we could pay for universal child care...universal pre- K for every 3-year-old and 4-year-old in America...put $800 billion new federal dollars into public schools K though 12, provide universal two-and- four-year college and technical school for those who want an education.

“We could do all of that for 2 cents, plus cancel student loan debt for 43 million Americans.”

From Bernie Sanders, there is this at “ The middle class of this country, over the last 40 years, has been disappearing.”

Bernie wants to reform the tax code by removing tax loopholes and tax breaks that only benefit the rich and large corporations while taxing Wall Street speculation.

As one measure to help reduce income inequality, Bernie has released an Income Inequality Tax plan calling on corporations to invest in their workers, not just dividends, stock buybacks and outrageous compensation packages to their executives. “ Joe Biden, Andrew Yang and other Democratic candidates for president have also stated policy ideas for improving the economic future for America, ideas that will strengthen the middle class, not continue to destroy it.