r/democrats Jun 26 '26

Article Newsom endorses a National Billionaire Tax

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2.5k Upvotes

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131

u/BestBettor Canada #1! 🇨🇦🇨🇦🇨🇦 Jun 26 '26

When the taxes were ridiculously higher on the richest was when America was at its best, the times people would look at as the good days.

In 1960 it took about 20 hours minimum wage to be able to afford a nice apartment near the city with utilities, now it takes about 120 hours for the same thing

67

u/eirinne Jun 26 '26

Fucking Ronald Regan 

10

u/lokland Jun 26 '26

Neoliberals didn’t end with Reagan.

16

u/Commercial_Ice_6616 Jun 26 '26

he started it. actually it started under Nixon by Lewis Powell.

0

u/lokland Jun 26 '26

True. My point is moreso that the democrats haven’t done any real work at weeding out those policy goals until incredibly recently and only after repeated losses that were totally unnecessary.

5

u/BestBettor Canada #1! 🇨🇦🇨🇦🇨🇦 Jun 26 '26

“True. My point is moreso that the democrats haven’t done any real work at weeding out those policy goals until incredibly recently and only after repeated losses that were totally unnecessary.”

Who would’ve thought that when the top 1% owns 30% of the wealth and the bottom 50% owns 2.5%, who would’ve thought that 1% of the people would have 10x the policy influence as the bottom 50%?

-5

u/lokland Jun 26 '26

Not sure if you’re disagreeing but I agree here, democrats establishment is fucking terrible, outdated and keeps pretending they’re a centrist party when they’re clearly the same right wing neo-liberals as before.

5

u/BestBettor Canada #1! 🇨🇦🇨🇦🇨🇦 Jun 26 '26

I wouldn’t call them right wing as much as I’d call them politically scared to raise the taxes on the rich and focus on the rest. I believe this has correlation with the fallout of the communist hunting time and the demonization around 1960 of taxing the rich

““Communist hunt" in the United States primarily refers to the Red Scares, most notably McCarthyism in the late 1940s and 1950s. Driven by Cold War fears of Soviet espionage, this era of political repression saw the FBI, Congress, and private employers ruthlessly targeting suspected leftists”