Concurrent with economist Preston’s 1975 analysis the GOP revved up their new propaganda machine that used the recent Powell memo as a play book. The Memo’s primary goal was to turn the US into a third world nation. Demonizing successful consumer advocates like Ralph Nader and human rights advocates like Jimmy Carter was chapter one in Powell’s playbook. Raygun ascending the throne 40 years ago followed by the 1985 Democratic Leadership Council (DLC) formation, putting income and wealth inequality on the fast track was chapter two.
Chapter 3 was decriminalizing FDR’s New Deal regulations (in the name of “deregulation”), largely achieved by the time the SCOTUS installed the Dubya regime 20 years ago. US life expectancy (comparatively and absolutely) went into decline at that point after a century of increasing.
The 2008 crash put the US within spitting distance of third world status, with Covid-19 soon sealling the deal. Disaster capitalism at its finest.
The USA wastes more money on “health” care. I give you Sen. Rick Scott (R-FL) as example one.
When I first saw the headline I thought it should more appropriately say: In the fight for poor health the USA is punching well above its weight. This is no accident it is planned austerity to keep taxes on the wealthy down, while ignoring the needs of the 99%.
As well as maintaining a very for profit health system which can only be described as parasitical. No offence meant to the dedicated medical people; it is the hospitals, equipment suppliers, insurance companies and drug companies that are the major culprits sucking off our medical needs.
Life expectancy is dropping and birth mortality rates are climbing in the US overall, and greatly for the bottom 20%. The experts claim this is due to suicides’ and increased drug use. But I suspect there is also a correlation with access to healthcare, something many in the lower income brackets don’t have.
Neoliberalism is working exactly as intended.
A quick look at data from +ttps://www.aei.org/carpe-diem/explaining-us-income-inequality-by-household-demographics-2018-update/ and the OECD +ttp://www.oecd.org/
Indicates that if those in the bottom 20% of average yearly income in the U.S. were a country, it would come in 42nd place in the World (behind Mexico and ahead of South Africa).
Time to get past the 1% trope when the average yearly income of the top 40% is over 6 times that of the bottom 40%.
Unfortunately the 1%'s wealth and income are so exponentially higher than anybody in the rest of the upper 40% that there is NO income “trope”.
By the end of the 20th century, after a quarter century of dismantling FDR’s New Deal regulations, the 1% were wealthy enough to buy enough DC politicians to control the US gubmit. Their wealth has increased so much during the 21st century that they have bought enough politicians abroad to enable them to control the gubmits of many other countries.
Yes, many in the upper 40% do promote and perpetuate the 1%'s trickle down trope, but other than the 1% is anybody else in the upper 40% able to buy even ONE politician ?