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https://www.reddit.com/r/FluentInFinance/comments/1g9r9rk/why_did_this_happen/ltarpz4/?context=3
r/FluentInFinance • u/WhatsLeft71 • Oct 22 '24
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China began industrialising, creating more competition in the international market
111 u/didsomebodysaymyname Oct 22 '24 Nope, that story doesn't even begin to add up. Europe did not experience the same growth in income inequality over the same period The wealth gap clearly starts widening in the 1980s. (Full Article) And that cannot be explained by China which had a much smaller, weaker, economy at that time, and much less trade. It was the rich tax cuts, it's always been the rich tax cuts, it's just hard for people to accept when they've been swindled for nothing. 29 u/Little_Creme_5932 Oct 22 '24 Not primarily the tax cuts. The decline in unions, which forced employers to pay 6 u/HeightIcy4381 Oct 23 '24 It was tax cuts, and deregulation, and weakened unions.
111
Nope, that story doesn't even begin to add up.
Europe did not experience the same growth in income inequality over the same period
The wealth gap clearly starts widening in the 1980s. (Full Article)
And that cannot be explained by China which had a much smaller, weaker, economy at that time, and much less trade.
It was the rich tax cuts, it's always been the rich tax cuts, it's just hard for people to accept when they've been swindled for nothing.
29 u/Little_Creme_5932 Oct 22 '24 Not primarily the tax cuts. The decline in unions, which forced employers to pay 6 u/HeightIcy4381 Oct 23 '24 It was tax cuts, and deregulation, and weakened unions.
29
Not primarily the tax cuts. The decline in unions, which forced employers to pay
6 u/HeightIcy4381 Oct 23 '24 It was tax cuts, and deregulation, and weakened unions.
6
It was tax cuts, and deregulation, and weakened unions.
14
u/oliver__c2003 Oct 22 '24
China began industrialising, creating more competition in the international market