1/ The main conduit of wealth inequality is unfair tax policy. For the last 40 years we’ve been transferring wealth into the hands of a few through increasingly reduced taxes for top earners as well as corporate subsidies and financial deregulation.
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Capitalism itself is inherently neutral. We have a tradition in America of pushing back against overreach by capitalism: labor unions, child labor laws, anti-trust laws etc. But in 1980 they started deregulating capitalism & deregulating banks, turning it into an unfettered force
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That’s part of why I feel the way I do; I’ve seen how the system works. The problem isn’t that some people can create wealth here; the problem is that the system is now set up so that not ENOUGH people can create wealth. We can have the best of both systems; again, look at Europe
Aug 22, 2020 · 7:11 PM UTC
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