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Top 1% of u.s. earners now have more wealth than the middle class (media.mas.to)

submitted 10 months ago by [email protected] to c/[email protected]

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cross-posted from: https://lemmy.ml/post/9299269

https://www.usatoday.com/story/money/2023/12/06/top-1-american-earners-more-wealth-middle-class/71769832007/

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[–] [email protected] 35 points 10 months ago

That's the part a lot of people in the west still don't seem to get. The existence of Soviet Union alone was enough to force capitalists to allow for a relatively high standard of living for the working majority. As soon as the threat of a good example was destroyed, there was no longer any reason to keep up any pretenses. The exploitation could now begin in full.