from Washington’s Blog:
This Neofeudal structure is unstable by its very nature.
I have often examined the Neofeudalist structure of the U.S. economic hierarchy, and the many social and financial fault lines running through this creaking structure.
Today I’d like to examine the neofeudal strip-mining of the class that pays most of the taxes. These taxes support the bottom 50% who pay the 7.65% payroll taxes and receive substantial income tax credits, and enables the super-wealthy to pay lower tax rates on their vast unearned income.
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