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Trump socialism for the rich; capitalism for the rest. America's largest banks saved $21b last year thanks to Trump’s tax cuts, some of which went into massive bonuses for bank executives, while more than 4,000 lower-level bank employees lost their jobs. theguardian.com/commentisfree/…
Trump socialism for rich, capitalism for the rest: GM gets more than $600m in federal contracts and $500m in tax breaks, some of which go into pockets of GM executives (CEO Mary Barra, $22m in 2017). But GM will lay off more than 14,000 by the end of 2019.
The worst form of socialism for the rich, capitalism for the rest: Sears doling out $25m to executives who stripped its remaining assets and drove it into bankruptcy, but nothing for the thousands of workers laid off.
Under socialism for the rich, you can screw up big time and still reap big rewards. Equifax’s Richard Smith retired in 2017 with an $18m pension in the wake of a security breach that exposed the personal information of 145 million consumers to hackers.
Under socialism for the rich, you can screw up big time and still reap big rewards. Wells Fargo’s Carrie Tolstedt departed with a $125m exit package after being in charge of the unit that opened more than 2 million unauthorized customer accounts.
To conservatives, socialism means people don't have to work for what they receive. Yet non-working rich soaring. 60% of America’s wealth now inherited. Trump and Rs cut the estate tax to $22m per couple. McConnell wants to repeal estate tax altogether.
Most Americans working harder but getting nowhere, and have less economic security than ever. They need thicker safety nets and deserve a bigger piece of the economic pie. If you want to call this socialism, fine. I call it fair.
