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George Monbiot@georgemonbiot.bsky.social |
Why? Because trade unions were crushed. Because tax rates for the very rich were slashed. Because any regulation that big business viewed as constricting was loosened or eliminated. And, perhaps most importantly, because *rents* were allowed to soar.
3 replies 11 reposts 63 likes
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David Horton
@davidrh.bsky.social
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They will not permit inequality to decline.
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Sid Eschenbach
@sid-eschenbach.bsky.social
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Alt Why? Because manufting went to cheap offshore, top personal tax rates slashed, market scale of many corps became global from national/regional, Corp tax rates slashed, c-suite pay exponential rise. After tax Corp rents up avg 3% due to all the above post 2012 (to 10% from hist 7%)
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George Monbiot
@georgemonbiot.bsky.social
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I don’t just mean housing rents. I mean all *access fees* to essential services that have been captured by private wealth: water, energy, health, railways etc. And the interest payments arising from the financialisation of higher education.
1 replies 8 reposts 36 likes