Friday, July 2, 2010


One to two percent in the USA holds most of the wealth and that is the reason we have all these financial problems. Before President Reagan came to power, the richest five percent of Americans were paying a fair share of taxes with a highest rate of about 90% and thus there was enough money to balance the budget. Reagan changed all that and turned the biggest creditor in the world to the biggest debtor by cutting the taxes of that 2% who were holding most of the wealth and began borrowing to fill the gap and following that country began its decline, heading towards bankruptcy.

This is not going to change since it is only this top few have all the money. They are not paying a fair share of taxes and the rest don’t have money to pay taxes to balance the budget. If the people in the nation are poor then the nation is going to go bankrupt. In the USA, today the people are poor since only the top 2% have all the money. How difficult it is to understand this?

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