Life expectancy in America is lesser than it is in Cuba. America is capable of being better than that with all our advancements in healthcare and technology, getting outplayed by a runt like Fidel in any metric is embarassing…
Cynicism and Populism coupled together is a recipe for disaster. The Naxalite movement back in India is concise evidence for that.
That being said, a “fair market” economy is pretty subjective. Time and time again, wealth has shown not to redistribute reasonably for the working class. Since ‘87, the top 1% federal tax has plummeted and swimmed around 30-40%. The trend of income disparity has only risen since then….It is uncanny.
Wolters Kluwer takes a historical look at the top marginal income tax rates in the United States.
www.wolterskluwer.com
I wouldn’t necessarily have a particular issue with the billionaire entourage or their tax cuts either if stuff like Healthcare were efficiently universalized or infrastructure was well-maintained like in Singapore. They manage to do that with some freakishly low tax rates.
Moving in to or out of Singapore? Get in-depth information for expats on different taxes and how to deal with them.
www.expat.hsbc.com
Nonetheless, I’m not saying that we need to go all technocratic like Singapore but surely, there is some unnecessary expenditure going on the government’s behalf that can be better served in the domains of universalized healthcare or rebuilding impoverished communities.