Rick Shepherd

Special to the RGJ

The Reagan Era introduced America to trickle-down economics. For almost 40 years this idea was profoundly successful for a small number of people. For 99% of us, the pains brought by trickle-down economics are significantly felt.

From the end of World War II until the early 1980s, America enjoyed a Keynesian model of progressive taxation, which encouraged industry leaders to reinvest profits into their companies. We saw the greatest increase in middle-class prosperity our nation has ever known. A worker could earn enough money to afford a good home, transportation, support a family including an unemployed partner and children, and still enjoy regular vacations. Upward mobility was common. Companies were successful and employees well-compensated, leading to a symbiotic relationship that often lasted for decades.

By the time Reagan was elected, we were led to believe the best way to run our country was like a business. The wealthy and their proxies took leadership positions in our government for that purpose. Believing government waste, fraud and abuse were rampant and the private sector could be trusted we created America Incorporated. We lined up to hear bosses-turned-leaders preach the gospel of an invisible hand. Economics professors ensured the next batch of business professionals properly admired the new American Way. The orders were clear: Reduce, eliminate or privatize everything except for the War Machine and corporate welfare.

Four decades later, we see the error of our ways. We properly executed a bad plan and as a result the wealthiest 1% of Americans live lavishly off passive income. Corporations enjoy billions of dollars in profits annually while receiving negative tax bills from the IRS, thanks to paid lobbyists and custom-crafted legislation. We invade sovereign nations in an ongoing war for hydrocarbons yet the oil industry bears no burden in this costly devastation. BofA, Bear Stearns, Goldman Sachs, AIG and Lehman Brothers received a $1 trillion taxpayer funded bailout that We the People saw no part of.

It is time to bring the commitment shown a few industries to the rest of us. We deserve a universal basic income. Like any investor, citizens have a right to dividends from our nation’s economic successes. We run our country like a business and it is time for Americans to see a return on investment. We are the wealthiest nation the world has ever known. There is nothing we cannot afford. We need only choose to do so.

Rick Shepherd is running for the U.S. House seat representing Northern Nevada that is currently held by Rep. Mark Amodei.