As we address our national debt and deficit spending, we need to ensure our revenue helps ordinary folks, not just millionaires and billionaires.
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WASHINGTON, D.C. — Between 1933 and 1981, both parties had a shared vision to invest in hardworking, everyday, ordinary Americans. Back then, Congress based its disputes on which policies would achieve success and the limits in which they would be effective, not whether they should exist. Today, the story is different.
We have to invest in ourselves, and the federal government has a role in making this possible. We need to:
Modernize our infrastructure.
Attract businesses and advance the status of workers.
Bring supply chains back home.
Protect our civil rights and our environment.
Resume our investment in the future. (Scientific research and development is currently 0.7% of the GDP compared to 2% in the past.)
Protect and pay vital services such as Medicaid, Medicare, and Social Security.
Provide for our national security.
Beyond investigations into investigations and culture wars, we must remember America's promise to hardworking, ordinary people. We remain the land of opportunity. Our communities — even if small and rural — still must progress, thrive, and become an example for the world that empowers the next generation to lead humanity forward.
As we address our national debt and deficit spending, we must also consider our revenue. Out of the estimated fiscal budget of $5.8 trillion for 2023, it's unlikely we will find $1.2 trillion of wasteful spending to balance the budget.
The wealthiest people in America today are paying an average of 3%, but during the Republican administration of Eisenhower, the top marginal income bracket was 90%. Asking for 15% is more than reasonable.
The overwhelming majority of Americans support investment spending for ordinary Americans, but Congress must commit.
Our investments today will determine what America looks like for our grandchildren and their children. The time is now. Let's work together with the same vision both political parties saw in the past.
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