This is the age of capitalists and Silicon Valley entrepreneurs. The truth is you are either on the working side of the economy or the ruling side of the economy. Only 4% of the millionaires believed themselves to be wealthy while 44% considered themselves to be middle class in America.
This is troubling news. People who do good financially, keep excelling while those who struggle economically keep struggling.
It seems like it is high time to put in place again what President Dwight David Eisenhower had. During his administration, Eisenhower had a 90 percent tax rate for the super-rich during his administration.
The only way to get away from high taxes was to spend the money in the good of the country. To avoid high taxes, the rich could invest in business expansions and higher employee wages. The rich would give a million or two to tax-exempt non-profits that feed, house, and clothe poor people of America, among other things.
Eisenhower believed that to avoid the higher tax, the rich would spend money on doing things that would make America great. In Eisenhower’s term, enough tax by the rich made new projects possible. A new project of interstate highways and the most significant road project America had ever seen was only possible because of Eisenhower tax rates.
Many believe that Ronald Reagan handed the economy over to the rich guys. And instead of building the country, they are tearing it up for their benefit. It is time to take back the power from the rich and greedy and let the middle class bloom.
US President Donald Trump Plans to Leave Washington on Inauguration Day
The US president is planning to leave Washington on the inauguration day and he will not attend the swearing-in ceremony of the President-elect, Joe Biden. The recent events in the US have left many questions related to the future of the superpower.
Trump has planned his farewell event at Joint Base Andrews where Air Force One is headquartered. He will leave Washington to fly on to Palm Beach, Florida to begin a new chapter in his post-presidency life at his Mar-a-Lago club.
Earlier, President Donald Trump scheduled his departure on Tuesday but now he has shifted his plans to Wednesday morning. For the last few months, questions were being raised over Trump’s approach to handle important issues in the US.
Following the US Capitol insurrection, voices were raised to throw him out of his office before the end of his term. Donald Trump is the only US president who has been impeached twice and it is not a good indication for the US.
The presidency of Donald Trump has also devasted the relations of the US with Europe. Just before his departure, Secretary of State Mike Pompeo said no to a final trip to meet with European and NATO leaders. It is not possible to say whether it would be possible for Joe Biden to repair this damage over the next four years of his term.
Many White House advisors are requesting Donald Trump to host Biden for a White House meeting just before the Inauguration Day. However, Trump has not given any positive sign to express his willingness to do so.
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