In this morning's Washington Post, Harold Meyerson points out that those who are panting after deficit reduction need to recognize that the source of wealth in America has changed over the past decades, and that the on-going disparities between the way investment income and wages are taxed is part of the problem. There is no FICA (Social Security) tax on investment income, nor any Medicare tax. This has to do with how these programs were originally devised, but there is no moral reason to reward income earned by the sweat of someone else's brow over that earned by one's own.
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In This Issue
- Talk of Latinos' potential political clout dominates La Raza gathering
- Editorial: Pope Francis' exhortation to walk on the margins makes us squirm
- Philippine church takes lead on Francis' environmental encyclical
- Special Section Preview: Social Justice
Some articles are only available in the print newspaper and Kindle edition.
by Joshua J. McElwee NCR Today