eagle1462010
Diamond Member
- May 17, 2013
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None of your business................and you post is still partisan crap.Hate Capitalism post.............LOLCapitalism’s Betrayal Of The Working Class Could Be Its Undoing
Donald Trump is hacking away at working-class benefits. We’re in a period of extreme deregulation, deep tax cuts for business and the rich, extreme protectionism, and rising debt, even as the Federal Reserve increases interest rates. Together, these developments leave the working class with lower wages and benefits, higher prices, and reduced government services.
The actions of Trump’s administration are just the latest in a trend that goes back decades: the destruction of policies aimed at improving the lives of workers ― the very people who produce the profits upon which capitalism depends. The relationship between capitalism and the working class has always been defined by tensions, troubles, and instabilities. But these have now risen to such a level that the whole system is in danger of self-destructing.
After the Wall Street crash of 1929 plunged the world into crisis, capitalism survived precisely by making substantial accommodations to the working class. President Franklin Delano Roosevelt created The New Deal as an antidote to the catastrophic rise of unemployment and poverty. Taxes on, and loans from, corporations and the rich enabled the state to initiate unprecedented public services ― establishing Social Security and unemployment compensation ― and large numbers of public jobs. The nation’s first minimum-wage law raised incomes for vast masses of people.
A capitalism shaken deeply by the Great Depression took these steps under heavy pressure from the Congress of Industrial Organization, a federation that militantly organized industrial labor unions, and was allied with socialists and communist parties. That large and powerful alliance forced a “trickle-up” policy on the FDR government ― direct help for the working class whose enhanced purchases trickled up as greater revenues and profits for capitalists. A relatively well-paid, secure, and largely white working class emerged.
More: Capitalism’s Betrayal Of The Working Class Could Be Its Undoing | HuffPost
More examples of how government can help, and hurt, the economy.
I'm SHOCKED .............
Well, you may be SHOCKED - but you're also STUPID. What is your level of education?