1/ The reason extreme income inequality is so viscerally repulsive to me is because I’m old enough to remember the time - before 1980 - when it wasn’t this way. It all started with the Reagan tax cuts and Reaganomics in 1980.

Jan 3, 2021 · 8:19 PM UTC

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2/ Example: Walmart corporation made $16.4B in profits in 2011 yet pays its employees minimum wage. The family has $100B, more than bottom 40% of all Americans. Unjust economic policies made this possible, and no one no one no one should be okay with it. #TaxTheRich
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Replying to @marwilliamson
A lot has changed in last 40 years, we can thank Reagan Trickle down economics & neoliberal policies have decimated the working class Reagan's legacy: ✅ Attacks on Unions ✅ Welfare Queen "stick man" ✅ Trickle Down Economics ✅ Taxing Social Security nitter.vloup.ch/geoff_ginter/sta…
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Replying to @marwilliamson
I graduated high school in 81, and it’s been an uphill climb for too many people for most all their lives. Every decade brought cuts to programs, healthcare, arts...while increasing costs to everyday living. I laugh at the $600 stimulus, it pays 1/2 month rent and 2 utility bills
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Replying to @marwilliamson
I got depressed when Jimmy Carter didn’t get a second term. A B grade actor beat him in 1980. It was downhill from there. Homeless people, immoral incursions into Latin America ( always on the dictators side) and on .....
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Replying to @marwilliamson
Actually, it was in the works since 1929 when Neoliberalism was born. The 80’s are when it was ramped up but parts if it were being implemented much earlier that the Regan Era. I remember them busting unions during Nixon but it did begin in earnest with Regan, Koch bros & others.
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Replying to @marwilliamson
Me too! I was a HS drop out who turned my life around. Through strong work ethics and night school I eventually earned a 6 figure income and retired early. I had bootstraps to pull up. I always had healthcare, sick leave, disability ins, pd vac, all just from working full time.
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Replying to @marwilliamson
cbsnews.com/news/tax-cuts-ri…
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Replying to @marwilliamson
Top marginal Fed tax rate from 1953 to 1963 was 91% on couples making $400K. There were 25 Federal tax tiers.
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Replying to @marwilliamson
I am old enough to remember that also, however, I also remember it wasn’t always that way for some. The American system primarily benefited white males, not communities of color, not some immigrants. It was a white, privileged system before 1980 n beyond, still is in many ways.
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Replying to @marwilliamson
It hit me pretty hard the other day, that the supposed destitution of the Simpsons cartoon family - a level of middle class seen as being a "pathetic" standard of living in the 80s & 90s - is now unattainable high for the average millennial - the generation they'd be today.
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Replying to @marwilliamson
I was explaining this to my son the other day - how it all started with Reagan. So basically my entire adult life has been 40 years of decline. The rich getting richer. BTW you were great on the new podcast with @krystalball and @KyleKulinski I LOVED it
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