Wealth and Democracy: A Political History of the American Rich

Author: Kevin P. Phillips
3.7
This Month Hacker News 1

Comments

by specialist   2019-01-26
Creating the middle class was a deliberate policy choice [1]. Hard fought and narrowly won.

That the rich get richer is just math. It's not a value statement.

Without active wealth redistribution, accelerating inequity is inevitable.

--

I personally don't care how we do it. UBI, cashectomies of windfall profits, restoring progressive taxation to subsidize the safety net. Whatever.

I am tired, however, of the bickering over the details. As though the primary issue at hand is tax brackets and capital gains. These food fights just muddy the core conundrum.

The trick is balancing capitalism with democracy, lifting the floor without lowering the ceiling.

--

[1] Kevin Phillips, Reagan's conservative economist, detailed our history of purposefully creating a middle class and the upper class' efforts to thwart such efforts:

Wealth and Democracy: A Political History of the American Rich Paperback [2003] https://www.amazon.com/Wealth-Democracy-Political-History-Am...