So how can we break this vicious cycle before the resulting bubble bursts leading to the next big crash? The answer is really quite clear: adopt the TSAP party platform ASAP. But since it is unrealistic to expect either corporate party in Washington to take up an entire platform that threatens their own interests, we have devised a list of the highest-priority measures to take before the inequality-fueled crash of 2016 happens:
- Raise the top marginal tax rate to at least 50% (if not 70%) for incomes above $1 million, and simplify the tax code by removing loopholes geared towards the wealthy.
- Reduce the corporate tax rate to 20-25%, remove all loopholes, and tax only retained earnings.
- Reduce tax rates for the bottom 80% of Americans, and un-tax small businesses with earnings less than $100,000 per year.
- Raise the minimum wage to at least $10/hour if not higher, and index it to inflation from now on.
- Remove the "sequester" cuts ASAP, and sharply increase funding for infrastructure, education, green energy, and other crucial goals to put Americans back to work.