Thursday, January 7, 2016

Robert Reich on Ending the Vicious Cycle of Wealth and Power

Midget Politician In Scaring Miami Resident Scandal!
What’s at stake this election year? Let me put as directly as I can.America has succumbed to a vicious cycle in which great wealth translates into political power, which generates even more wealth, and even more power.
This spiral is most apparent is declining tax rates on corporations and on top personal incomes (much in the form of wider tax loopholes), along with a profusion of government bailouts and subsidies (to Wall Street bankers, hedge-fund partners, oil companies, casino tycoons, and giant agribusiness owners, among others). The vicious cycle of wealth and power is less apparent, but even more significant, in economic rules that now favor the wealthy.

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