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The Western world used to tax the rich much more than what we do now (check out income tax level under Nixon for instance, and it's not just about income tax).
by littlestymaar 2y ago
The Western world used to tax the rich much more than what we do now (check out income tax level under Nixon for instance, and it's not just about income tax). And as a results, they were much less powerful (the robber barons had disappeared for multiple decades before making a come back during the modern days gilded age).
- neilwilson 2y agoIt wasn't because of the tax levels. It was because there was tight immigration rules that were enforced and plenty of job opportunities. When you have a system that deliberately uses unemployment as its escape valve, then the costs just get passed on until somebody loses their job and can't do anything about it because there are not enough jobs to go around.
- littlestymaar 2y agoI'm not talking about unemployment (which is relatively low nowadays anyway), I'm talking about the extreme level wealth concentration, and it has nothing to do with immigration (well, except that a former illegal immigrant is now half a trillionaire while paying a much lower tax rate than the average American, but it has nothing to do with him being foreign born and I'm pretty sure you weren't complaining about this kind of immigration).