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In the 1980s, the federal government weakened the position of trade unions. … The productivity of the American workforce grew…at about 2% a year, but the wages of traditional workers increased more slowly, if at all. Over the same period, the pay of executives increased, sometimes drastically.
—Timothy Snyder, The Road To Unfreedom
#usa #capitalism #oligarchy
At the same time, the United States was very weak on the basic policies that stabilized middle classes elsewhere: retirement pensions, public education, public transport, health care, paid vacation, and parental leave.
—Timothy Snyder, The Road To Unfreedom
#usa #capitalism #oligarchy
Whereas workers paid an increasing tax burden through payroll taxes, corporations and wealthy families saw theirs drop by half or more. Even as the percentage of income and wealth at the top of the American distribution increased, the percentage of tax expected from the most fortunate decreased.
—Timothy Snyder, The Road To Unfreedom
#usa #capitalism #oligarchy #tax
Inequality of income and wealth grew drastically from the 1980s through the 2010s.
—Timothy Snyder, The Road To Unfreedom
#usa #capitalism #oligarchy
@janhoglund
It was a blackmail scheme the corps figured out. Influence politics and push for trade agreement to allow big corps to become transnational, then threaten the host govt that they will leave (and remove jobs/taxes) to go to the lowest taxed jurisdiction, causing a spiral of international competition in lowering corporate tax rates. The trade agreements should add some tools to have base/equalized tax rates to prevent this corporate shakedown of our public purses.