According to the Baltimore Sun, the reason behind Bernie Sanders and Donald Trump's popularity versus that of presidential candidates Hillary Clinton and Jeb Bush is because people are rebelling against the establishment. Many now feel that American democracy has turned into an oligarchy controlled by its richest members.
Median family income is lower now than it was 16 years ago, adjusted for inflation.
Most economic gains, meanwhile, have gone to top. These gains have translated into political power to rig the system with bank bailouts, corporate subsidies, special tax loopholes, trade deals and increasing market power -- all of which have further pushed down wages and pulled up profits.
Those at the very top of the top have rigged the system even more thoroughly. Since 1995, the average income tax rate for the 400 top-earning Americans has plummeted from 30 percent to 18 percent.
Wealth, power, and crony capitalism fit together. So far in the 2016 election, the richest 400 Americans have accounted for over a third of all campaign contributions.
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|“That science fiction future where robots can do what people and animals do may be closer than you think.”|
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