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Money Exhibitionism and Social Immobility
A massive transfer of wealth, David Cay Johnston contends, began in 1981 when there was "an abrupt change in tax and economic policy. Since then the base has fared poorly while huge economic gains piled up at the very top, along with much lower tax burdens." Thus it was Reaganism that set these forces in motion, a process that has had a devastating impact on the working class both economically and ideologically.

"This systematic destruction of the working class and middle class has come during an era notable for celebrating the super-rich just for being super-rich," Johnston writes. "Money voyeurism has grown in tandem with stagnant to falling incomes for the vast majority. There has also been huge income growth at the top and the economic children of income inequality: budget deficits and malign neglect of our commonwealth."

http://paeditorsblog.blogspot.com/2010/10/capitalism-sucks-unless-you-are-very.html

Filed under: Capitalism Labour Reaganism USA
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