Socialist Party of CT News

Socialist Party of CT Denounces Obama Tax Plan as "Class Warfare from Above"

Socialist Party of CT Denounces Obama Tax Plan as "Class Warfare from Above"

Amidst the worst recession since the Great Depression, with persistent "official" unemployment rates of 10% and real unemployment rates closer to 20%, the Democratic President has again shown the true colors of our "democracy;" cash rules. Plain and simple, the two-party corporately owned political system will do nothing to help the working class majority of America; the dying middle class which is daily joining the ranks of the impoverished.  Record rates of home foreclosures, massive federal debt, record unemployment, 50 million without healthcare and the best they can come up with is a tax break for the top 1% of our population? This in addition to astronomical military budgets and endless wars abroad. We find this sickening and will continue to stand tall offering a real alternative; democratic socialism. Only when real democracy is in place will the real interests of the vast majority of Americans , those who must work for a living, be realized.

The Socialist Party stands for a fundamental transformation of the economy, focusing on production for need not profit. So-called fair trade is meaningless as long as the world economy is dominated by a few massive corporations.

1. We demand the immediate withdrawal of the United States from the North American Free Trade Agreement (NAFTA) and the Central American Free Trade Agreement (CAFTA), and oppose the creation of a widened Free Trade Area of the Americas (FTAA).

2. We call for worker and community ownership and control of corporations within the framework of a decentralized and democratically determined economic plan.

3. We call for a minimum wage of $15 per hour, indexed to the cost of living.

4. We call for a full employment policy. We support the provision of a livable guaranteed annual income.

5. We call for all financial and insurance institutions to be socially owned and operated by a democratically-controlled national banking authority, which should include credit unions, mutual insurance cooperatives, and cooperative state banks.  In the meantime, we call for re-regulation of the banking and insurance industries.

6. We call for a steeply graduated income tax and a steeply graduated estate tax, and a maximum income of no more than ten times the minimum.  We oppose regressive taxes such as payroll tax, sales tax, and property taxes.

7. We call for the restoration of the capital gains tax and luxury tax on a progressive, graduated scale.

8. We call for compensation to communities-- and compensation, re-training, and other support service for workers-- affected by plant and military base closings as stop-gap measures until we reach our goal of creating a socialist society totally separate from the global capitalist economy.

9. We oppose the International Monetary Fund, the World Bank, and the World Trade Organization as instruments of capitalist oppression throughout the world.

10. We demand cancellation of Third World debt.

11. We call for a National Pension Authority to hold the assets of private pension funds, and a levy against corporate assets for any pension fund deficits.

12. We call for increased and expanded welfare assistance and increased and expanded unemployment compensation at 100% of a worker's previous income or the minimum wage, whichever is higher, for the full period of unemployment or re-training, whichever is longer.

13. We support a program of massive federal investment in both urban and rural areas for infrastructure reconstruction and economic development.

14. We support tax benefits for renters equal to those for homeowners.

15. We call for the elimination of subsidies and tax breaks that benefit corporations and all other forms of corporate welfare.

Direct all correspondence to Todd Vachon, Chairperson, Socialist Party of CT-  This email address is being protected from spambots. You need JavaScript enabled to view it.

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