Opinion | Why Do the Rich Have So Much Power? - The New York Times - 0 views
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America is, in principle, a democracy, in which every vote counts the same. It’s also a nation in which income inequality has soared, a development that hurts many more people than it helps. So if you didn’t know better, you might have expected to see a political backlash: demands for higher taxes on the rich, more spending on the working class and higher wages.
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In reality, however, policy has mostly gone the other way. Tax rates on corporations and high incomes have gone down, unions have been crushed, the minimum wage, adjusted for inflation, is lower than it was in the 1960s. How is that possible?
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The answer is that huge disparities in income and wealth translate into comparable disparities in political influence.
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