In a passionate speech delivered to a gathering of supporters, progressive Democrat Lisa McCormick outlined her vision for an America that prioritizes economic equality, citing Huey Long’s 1934 ‘Share Our Wealth’ plan as an inspiration.
In her remarks, McCormick emphasized the need for updated policies to correct what she sees as our broken political system, entrenched economic inequalities, and unsustainable levels of national debt.
McCormick argued that trickle-down economic policies have exacerbated financial disparities, pointing to statistics indicating that the bottom 50% of Americans control just 2% of total household wealth, while the top 1% holds more wealth than the bottom 90% combined.
She noted that Reagan-era policies, which relied on tax cuts and deregulation, have concentrated wealth in the hands of a few, leaving many Americans struggling to afford necessities.
“The concentration of wealth in this country is not just a statistic; it’s a reflection of policies that favor the wealthy at the expense of the working class,” said McCormick, in a critique that included concerns about the national debt, which has surpassed $36 trillion, with average Americans shouldering approximately $100,000 each.
She warned that nearly a quarter of Americans now have negative net worth, meaning they owe more in debt than the total value of their assets.
“By implementing these policies, we can begin to scale down the big fortunes and scatter the wealth to be shared by all of the people,” said McCormick. “This is not about punishing success; it is about ensuring that success is within reach for everyone.”
To counter this economic reality, McCormick proposed a set of policy reforms aligned with Long’s populist ideals but adapted for the modern age. Key points of her plan include:
- Tax Reform: Implement a tax system to increase contributions from the wealthiest Americans, closing loopholes and investing revenue into healthcare, education, and infrastructure. McCormick proposed a cap on wealth that could limit greed and prevent the rise of a corporate aristocracy.
- Minimum Wage Increase: Raise the federal minimum wage to $18 an hour to alleviate poverty and boost economic mobility for working families, with annual cost of living adjustments.
- Universal Healthcare: Introduce a single-payer healthcare system that provides expanded Medicare-for-All to ensure accessible healthcare for all Americans.
- Tuition-Free Public Education: Eliminate tuition costs at public colleges and universities to alleviate the burden of student debt while preserving a qualified workforce.
- Labor Rights: Strengthen unions to allow workers to negotiate for fair wages and safer working conditions.
- Affordable Housing: Increase investments in affordable housing to combat insecurity and eliminate homelessness in the United States.
- Support for Small Businesses: Provide incentives and resources for small businesses, especially in underserved communities, while breaking up monopolies and cartels that make capitalism impossible by eroding competition.
McCormick critiqued the Tax Relief for American Families and Workers Act, which granted greater tax benefits to wealthy households, while leaving families in lower income brackets only scraps, and she raised concerns about the U.S. military budget, which at nearly a trillion dollars, represents resources that should be redirected to priorities like education and healthcare.
Referencing President Eisenhower’s warnings about the military-industrial complex, McCormick underscored that national security should focus on investing in Americans’ well-being rather than in expanding military expenditures.
She also invoked General Smedley Butler’s famous critique of war, contending that current military spending disproportionately benefits powerful corporations rather than citizens.
Calling for a collective re-evaluation of priorities, McCormick urged Americans to advocate for economic policies that promote shared prosperity.
She called for the revival of Senator Huey Long’s ‘Share Our Wealth’ plan as a necessary and practical solution for the challenges of the 21st century.
“Let us invest in a future where education, healthcare, and affordable housing are seen as rights, not privileges,” said McCormick. “Let us advocate for policies that promote economic justice and shared prosperity.”
As the upcoming presidential race approaches, McCormick’s call for reform highlights the progressive movement’s focus on economic equity and underscores her commitment to reshaping an America she envisions as “just and equitable.”