The never ending struggle between wealth and democracy. Same as it ever was, including the pearl clutching and feinting spells.
This was my introduction to the nuts and bolts, written by Kevin Phillips, Reagan's economist:
Wealth and Democracy: A Political History of the American Rich [2003] https://www.amazon.com/Wealth-Democracy-Political-History-Am...
That the rich get richer is just math. It's not a value statement.
Without active wealth redistribution, accelerating inequity is inevitable.
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I personally don't care how we do it. UBI, cashectomies of windfall profits, restoring progressive taxation to subsidize the safety net. Whatever.
I am tired, however, of the bickering over the details. As though the primary issue at hand is tax brackets and capital gains. These food fights just muddy the core conundrum.
The trick is balancing capitalism with democracy, lifting the floor without lowering the ceiling.
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[1] Kevin Phillips, Reagan's conservative economist, detailed our history of purposefully creating a middle class and the upper class' efforts to thwart such efforts:
Wealth and Democracy: A Political History of the American Rich Paperback [2003] https://www.amazon.com/Wealth-Democracy-Political-History-Am...
https://www.amazon.com/Wealth-Democracy-Political-History-Am...
Hate the game, not the player.
Government is the source of all wealth. So says Reagan's conservative economist, Kevin Phillips.
Wealth and Democracy: A Political History of the American Rich
Belief in Freedom Markets™ is faith-, not reality-based.
Inequity is the result of math. The rich get richer. Without progressive income redistribution, increasing inequity is inevitable.
This is why game shows have bonus rounds, mooting the first 1/2, so that people continue watching.
Further, creation of the middle class is a deliberate, explicit policy decision. Not the natural outcome of Freedom Markets (tm). The USA has previously chosen to nurture a middle class on three separate occasions. We're overdue for a 4th restructuring, say by 20 years.
Wealth and Democracy: A Political History of the American Rich
http://www.amazon.com/Wealth-Democracy-Political-History-Ame...
Wealth and Democracy: A Political History of the American Rich http://www.amazon.com/Wealth-Democracy-Political-History-Ame...
Gross inequity is undemocratic. I cite Kevin Phillips' book Wealth and Democracy http://www.amazon.com/Wealth-Democracy-Political-History-Ame... but it's been researched and detailed ad nauseum.
More equitable societies are happier.
More equitable societies have better public health.
Just in case you need cites: https://www.google.com/searchq=More+equitable+societies+are+...
Lastly, I believe, but cannot prove, that more equitable societies are safer. Both domestically and internationally.
Me: According to your book, America's political parties have flipped every ~70 years. It should have happened around the time of Ross Perot, so I guess we're overdue. Do you think another realignment is emminent?
Phillips: No. It won't happen while Wall St. and finance remains in control of our political discourse.
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It'll be amazing if Biden Admin is able to uncork the next cycle. But I'm not holding my breath.
Wealth and Democracy: A Political History of the American Rich [2003] https://www.amazon.com/Wealth-Democracy-Political-History-Am...
Here's a more recent account:
Lobbying America: The Politics of Business from Nixon to NAFTA [2015] https://www.amazon.com/Lobbying-America-Politics-Business-So...
Edit: I changed "Last decade" to "Around 2005". Time flies. My bad.