Cold-hearted capitalism is not for the weak

To the editor:

A 2018 study revealed in Indiana that the poorest 20% paid 12.8% of their income in taxes while the top 1% paid 6.8%, ranking Indiana 12th in most unfair state and local taxes. Another analysis of the data measuring “tax burden” ranked Indiana 47th worse for the poor.

Of course, much is made over the poor’s request for financial aid from governments with little consideration about what corporations and the rich receive.

Review how this is framed: Corporations and the rich make financial investments with government contributions. The poor just want a handout.

Nowhere is this more clear than in real estate. A wealthy person walks away from an underwater mortgage and is praised for having financial acuity. A poor person forecloses on a home and is chastised for making bad decisions.

The government has long given subsidies to profitable industries, like oil and coal, leaving the public paying the difference in tax revenue as well as paying for those services generating their profit. This continues in states and communities chasing Amazon and other businesses when they give away potential tax revenue or other breaks with little in the way of accountability.

Then years later, we come back and pay when those same companies fail or exit the communities that embraced them. The Pence family’s former gas stations have cost Indiana taxpayers more than $20 million in cleanup.

Over the last decade, we have seen our governments invest in farmers, auto-companies, banks, businesses and more. However, when we ask for the same attention we are criticized for being needy. When we ask for the minimum investment in people that every other first world nation offers its citizens it is dismissed as “socialism.”

In a nutshell, we subsidize investments, construction, demolition, and cleanup for corporations to “create” jobs that need subsidized wages and healthcare.From where I stand, it appears to be socialism for the rich and cold-hearted capitalism for everyone else.

—Joe Huddleston
Jasper

 

 




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