The depleting quality of middle class life

A front page story in the Tribune ("Plant closing leaves void in town, workers," May 30) once again highlights the struggles of average workers in a society with ever-increasing wealth for a few. For the vast majority of wage earners, it is harder to find a decent job, affordable health care, and a means of retiring with dignity.

One hedge fund manager made over three billion dollars in 2007. The money 'earned' by this one person would have paid the salaries of all Chicago public school teachers, police officers, and firefighters for a full year.

To add insult to injury, this $3 billion is taxed at a lower rate than most of us pay in income taxes.

We're led to believe that wealth is good, that it eventually spreads around to everyone. But it doesn't. The past 30 years have shown that wealth accumulates at the top and endangers the democratic process by giving inordinate political power to the people with the money. It also takes funds away from health and education and infrastructure.

Responsible tax policies, like those espoused by Chicago's Center for Tax and Budget Accountability, are the best answer to the inequities that are reducing the quality of middle-class life in America.

--Paul Buchheit

Chicago

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