Everyone in the United States was much more well off in the 50s/60s/70s as they had just won a huge war that left most of their competitors factories completely destroyed. There's no economic boom today.
The triumph of conservative ideology has broken the unions. No individual factory worker has the leverage to negotiate a better compensation package against the professional management team at Gap or Deere.
The 80s was a period of explicitly designing for this condition; it's just taken a while for the ramifications to be acute. Although it's been obvious for decades that we were headed here.
Wealth inequality. Increases in productivity are going to the top, not the worker. It's also why social security is going broke. It could be funded if you remove the cap. Removing the cap wouldn't be necessary if there weren't such a wealth inequality problem.
The ultra wealthy are hoarding wealth then telling the rest of us we can't afford things we've afforded for over 50 years.
> "They were able to in the 50s/60s/70s. So why not now?"
Because the 50s/60s/70s was the post-World War II economic boom for the US. Unless you're volunteering to endure World War III so that the next generation can enjoy that kind of boom, that is not going to happen again.
Everyone in the United States was much more well off in the 50s/60s/70s as they had just won a huge war that left most of their competitors factories completely destroyed. There's no economic boom today.
The triumph of conservative ideology has broken the unions. No individual factory worker has the leverage to negotiate a better compensation package against the professional management team at Gap or Deere.
The 80s was a period of explicitly designing for this condition; it's just taken a while for the ramifications to be acute. Although it's been obvious for decades that we were headed here.
You mean back when rich people paid serious taxes?
Wealth inequality. Increases in productivity are going to the top, not the worker. It's also why social security is going broke. It could be funded if you remove the cap. Removing the cap wouldn't be necessary if there weren't such a wealth inequality problem.
The ultra wealthy are hoarding wealth then telling the rest of us we can't afford things we've afforded for over 50 years.
> "They were able to in the 50s/60s/70s. So why not now?"
Because the 50s/60s/70s was the post-World War II economic boom for the US. Unless you're volunteering to endure World War III so that the next generation can enjoy that kind of boom, that is not going to happen again.
The line must go up.
Because there was a shift to shareholder capitalism. Everything is done to increase shareholder value.