opinion

Bernie Sanders will fight inequality

Egalitarianism is the principle that all people are equal and deserve equal rights and opportunities at the core of our founding documents, the Declaration of Independence and our Constitution. However, today we are in danger of losing the democracy our Founding Fathers envisioned to oligarchy. It’s well documented that, since the late 1970s, the lower and middle classes have received short shrift from politicians and the upper percentile (upper class) of society concerning shares of the American economic pie.

Statistics don’t lie. The upper percentile’s share of national income (wealth) stood at 33 percent in 1943, never rising above 35 percent until the ascendancy of Ronald Reagan in 1981. The Gipper was able to slash the income tax rates on the upper percentile from 70 percent to 28 percent by the late 1980s, allowing this group to increase its share of national income to the never-before-seen 50 percent. There’s a word for this, and, including the more recent drastic and unwarranted increase in the salaries and bonuses of corporate directors, managers and university presidents, the word is obscene.

American democracy is a work in progress, continually striving for a more perfect union. If we are to arrest the slide toward oligarchy, steps must be taken. Facilitating Egalitarianism, surveillance on American citizens, with the exception of suspected Muslim extremists (let’s not kid ourselves, we’re not fighting a war on terror, we’re struggling against Islamic fundamentalism), must end. The “War on Drugs” has been an abysmal failure. Revision of our drug laws must be enacted, beginning with the legalization of marijuana. In addition to this revision, our penal system is in dire need of reform. The percentage of Americans, especially minorities, held in our prisons is greater than any other nation. How can this be in a democracy?

If we are to live in a truly egalitarian society, we must recognize the unequal distribution of income and wealth in society. As mentioned, the upper percentile’s share of national income, including capital gains, is 50 percent. Their share of national wealth is an astounding 70 percent. If we are to address societal inequality, the top marginal tax rate on the upper percentile should rise from the current 35 percent to 80 percent for those making $500,000 annually and 60 percent for those making $250,000 to $499,999. These rates correspond to the 70 percent before the 1980s. It’s suggested these rates will not impede the growth of the U.S. economy, but would spread growth more widely while imposing reasonable limits on the exorbitant compensation for corporate executives and university presidents. In addition, strengthening the 2010 Dodd-Frank act must take place giving the act sharper teeth dampening the unscrupulous behavior of Wall Street bankers and investors.

We are all Americans, but 10 percent view themselves living in a meritocracy, paying lip service to democracy, their concern for the other 90 percent absent. Unfortunately, this also applies to most federal elected officials, from both major parties, their self-interest (re-election) conflicting with concern for the governed. Reform in this area can only be accomplished with a constitutional amendment imposing term limits, three for senators and six for representatives, with a five-year moratorium on former officials accepting positions influencing Congress (lobbyists). This won’t happen anytime soon so, with next year’s general election, throw the bums out!

If we are to experience a return to the democracy envisioned by our Founding Fathers, there is only one presidential candidate who’ll attempt to lessen inequality while promoting egalitarianism within society, his name is Bernie Sanders. There’s only one political party that will enact his proposed legislation, the Green Party, neither beholden to the upper percentile. Happy Independence Day.

David C. Martin is a Wilmington resident.