Who rules America?
Sat Oct 03, 2020 · 148 words

In G. William Domhoff’s piece Who Rules America: Wealth, Income, and Power, he makes 8 compelling points that should make you wonder whether you truly understand where you stand in America:

  1. Wealth is the value of what you own while income is what you earn.
  2. Wealth is highly concentrated in just a few hands in the US.
  3. Wealth leads to power, and power leads to wealth.
  4. US is a power pyramid with the bottom 80-90% having no power.
  5. Tax cuts on capital gains and dividends benefits only the top Americans who get the majority of their income from capital gains and dividends.
  6. The US has both wealth and income highly concentrated.
  7. In the US, taxes and transfer payments reduce inequality but not much.
  8. CEOs generally get the salary they think they deserve.

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See also

  1. There is no right vs. left
  2. Is inequality inevitable?

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