Is there a cure for “wealth inequality?” We can try, and also help to end the current economic depression.

Raise the standard deduction in the Federal Income Tax to $30,000 (or $20,000 single and $40,000 married), and the standard exemption to $6,000. Raise the Federal minimum wage to $15. These figures are ten times the amounts in 1968. Prices for gasoline are ten times the amount in 1968, so too prices for American made automobiles.

To compensate use a 30% tariff on imported goods and services, and a 70% tax rate on income that is over $555,000 for the Federal Income Tax. This will work better than tinkering with the Corporate Income Tax Rates or any proposal not aimed at the problem. You can also stop taxing Social Security payments until the income is over $99,000.

– Ronald A. Sobieraj