manateefourmation t1_j6m271v wrote
Reply to comment by Pool_Shark in Mayor Adams plows ahead with plan to privatize health benefits for 250,000 NYC municipal retirees by mowotlarx
I hate when I have to disagree with someone who I think I fundamentally agree with. But this is that case.
We live in a country far from “unadulterated capitalism.” The sheer number of regulatory agencies whose sole job is to regulate capitalism is astounding. We have social programs like Medicaid, Medicare, Social Security. In NYC, we tax people making even $200k a year (not exactly wealthy in this city) almost 50% between federal, payroll, state and city taxes. Again - not exactly unchecked capitalism.
That said, I absolutely agree with you that the wealth disparity in this county is unsustainable. The difference between the bottom 99% and top 1% is greater than at the time of the French Revolution. Federal tax cuts under the GOP mostly go to corporations and the ultra rich. Taxing passive income different than W2 income is a scam. But as long as the GOP has their base fooled to vote against their economic interests - this is not changing any time soon.
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