by Robert Reich
The see the vicious cycle we're in, connect these 10 dots:
1. Almost all the gains from economic growth have been going to the very top. As a result
2. Americas vast middle class doesnt have the purchasing power to keep the economy moving forward, without going deep into debt. As a result
3. The debt bubble that burst in 2008 has been followed by an anemic recovery thats still not reaching most Americans. Which has contributed to
4. More intense competition by average Americans over smaller slices of a shrinking pie. Which has meant that
5. Rather than join together were divided and polarized. Native-born Americans are threatened by new immigrants; private-sector workers are resentful of public employees; non-unionized workers are competing with unionized; the working-class is pitted against the poor. Which has led to
6. A meaner, nastier, and more cynical politics in which little or nothing gets done for average working people. Meanwhile, as income and wealth have risen to the top
7. Political power has also moved to the top in the form of massive campaign contributions and swarms of lobbyists. As a result
8. The very rich pay half the tax rates they paid 35 years ago; effective corporate taxes are far lower; labor protections have been trampled and unions slammed. As a result
9. Safety nets have been slashed and public investments in education and infrastructure have been cut. And workers no longer get a fair share of corporate profits. Which has meant ...
10. Back to #1 through #9, above.
So how do we reverse this vicious cycle?
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