Did novice President Donald Trump wake up too late to see that his successful hostile takeover left him leading a highly leveraged nation, owing a $20 trillion national debt? That the nation scandalously pays more than $400 billion in wasteful interest per year? That the federal budget will collapse if interest rates spike upward?
That he leads the Republicans, who practice borrow and spend, trillion-dollar tax cuts for the wealthy and large corporations, and block revenue-stream enhancement? That the nation will struggle to borrow the vast sums needed if a major war breaks out (paper tiger)?
The only hope is a dedicated 10-percent surcharge on the gross income of the top 10 percent of the wealthiest taxpayers.
Over the last 40 years, the income of the middle class has stagnated while the wealthy are three times as rich. The wealthy are the only ones who have the money to pay down the debt from which only they have benefited.
Never miss a local story.
Allen T. Kelley