As we segregate by income into different communities, schools in lower-income areas have fewer resources than ever.
Robert ReichRead
The only way America can reduce the long-term budget deficit, maintain vital services, protect Social Security and Medicare, invest more in education and infrastructure, and not raise taxes on the working middle class is by raising taxes on the super rich.
Interpretation
The quote emphasizes the need for the wealthy to contribute more in taxes to support essential public services and reduce national debt.
Robert Reich's quote highlights a critical viewpoint on fiscal policy, suggesting that to address the long-term budget deficit while sustaining important social programs, America must consider tax increases on the wealthy. This reflects a belief in economic equity, where the wealthiest individuals bear a larger share of financial responsibility to support a fair society and to ensure vital services remain intact for the middle class and the less affluent.
In practice
During a political debate on social equity.
As we segregate by income into different communities, schools in lower-income areas have fewer resources than ever.
What are called 'public schools' in many of America's wealthy communities aren't really 'public' at all. In effect, they're private schools, whose tuition is hidden away in the purchase price of upscale homes there, and in the corresponding property taxes.
What someone is paid has little or no relationship to what their work is worth to society.
Tax laws favor capital over labor, giving capital gains a lower rate than ordinary income. The rich get humongous mortgage interest deductions while renters get no deduction at all.
The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now being run by Alan Greenspan and the Federal Reserve, and America's foreign policy is now being run by the International Monetary Fund [IMF]. ...when the president decides to go to war, he no longer needs a declaration of war from Congress.
You can't inspire people if you are going to be uninspiring.
Cutting government spending and government intrusion in the economy will almost surely involve immediate gain for the many, short-term pain for the few, and long-term gain for all.
The evidence of history speaks with a single voice. I do not know any exception to the proposition that if you compare like with like, the freer the system, the better off the ordinary poor people have been.
As our economy faces up to potential labour shortages due to our ageing population and as it moves to a new level of sophistication to compete with the rest of the world, we're going to need every Australian on board pulling their weight, rejoining the workforce, gaining new skills. Writing off individuals and communities suffering from poverty just creates a dead weight for our economy to drag along.
There's no reason to think that_x000D_ markets always drive people to_x000D_ what's good for them.
If you followed this economic crisis and you do not think that the world is getting flatter, you are not paying attention. We saw the entire global economy at one time acting totally in sync. The real truth is the world is even flatter than I thought. Our mortgage crisis is killing Deutsche Bank. You still don't think the world is flat?
This power becomes particularly irresistible when exercised by those who, because they hold and control money, are able also to govern credit and determine its allotment, for that reason supplying, so to speak, the lifeblood to the entire economic body, and grasping, as it were, in their hands the very soul of production, so that no one dare breathe against their will.
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