Saturday, April 30, 2011

The Robber Barons Are Back!

By Aerik Vondenburg
April 30, 2011

Since the Gilded Age of the 19th century, the wealthy financiers and "robber baron" industrialists have been effectively purchasing power – and creating further revenue for themselves – by directing money into the coffers of business friendly politicians, who in turn vote for lower taxes, special exemptions, tax loopholes, deregulation, etc.

Read on.

1 comment:

Big Em said...

Excellent synopsis of US political/economic history since the mid-1800s. As regards solutions, unfortunately, I suspect it's going to take another Great Depression to possibly get the US low-income voter to start voting appropriately to their income level and to reduce the amount of monetary influence/corruption that exists in our political system. The only thing that I find interesting is how blatantly the plutocrats are helping to start another Depression, almost ensuring another such backlash.