Reduce Income and Wealth Inequality to Grow the Middle Class
Peter Mathews believes that skyrocketing income and wealth inequality is destroying democracy in America and dismantling the working middle class. There is something profoundly wrong with the income distribution in the United States right now. It allows the top 1% to control the lives of the 99% in many ways.
The U.S. is the wealthiest country in the history of the world, but the majority of this wealth is owned and controlled by only a few individuals. The top 10% of Americans own and/or control 90% of the wealth in America. The United States currently has more income inequality than any other major developed country in the world. The richest Americans, who are corporate CEOs make 361 times the income of the average American worker. This gap is the widest its been than at any time since the 1920s. The top 0.1% owns as much wealth as the bottom 90%.
The system is fixed to benefit the billionaire class at the expense of everyone else. People working minimum wage jobs cannot sustain their families, and many people struggle with student loan debt for a long time after their graduation. 45 million American college students and college graduates have an average debt of over $33,654 each. The total student debt in the U.S. is $1.6 trillion, second only to the U.S. federal government debt!
As our Congressman, Peter Mathews will fight to benefit the middle and working classes by taxing billionaires, Wall Street, and large corporations. He will also close corporate tax loopholes and eliminate corporate welfare. Peter will use this money for programs that benefit the working poor and working middle classes: Tuition free college and technical and trade schools, smaller class sizes K-12, and for tax reductions on middle and lower incomes.
Peter will lead the effort in Congress to raise the federal minimum wage to a livable wage of $15 an hour by 2020, and to $20 an hour by 2025. In order to help small and medium businesses to pay their workers this higher wage, Peter Mathews will reduce taxes on small and medium businesses.
As our Congressman, Peter Mathews will work hard to guarantee working Americans annual paid vacations, on site child care, and parental leave. In Congress and outside Congress, Peter Mathews will work tirelessly to restore and expand the American middle class and to reduce income inequality in the United States.