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Many of these people have become billionaires by paying enormous numbers of people less than a living wage, forcing them to rely on (government funded) food and rental assistance, and and uncoupling productivity and wage growth.
- They burn through their workers by pushing them to work at top speed at the edge of their abilities, disabling them with injuries and stress related illness. They became billionaires by buying out companies that threatened to become competitors and offer products to consumers at lower prices, instead absorbing them into their operations so they could continue to enjoy higher profit margins
- They became billionaires by enticing cities and states into competitions into who could give them the largest upfront tax breaks in return for locating facilities in those areas that would bring in jobs and businesses, only to then lay off workers and downsize facilites within a few years, leaving cities and states with little gained beyond unemployment benefits to pay and pollution from the construction and operation to clean up.
- You had better read ” Winners Take All “, by Andand Giridharadas. Came out last you and then you will see how that works with the so-called giving. It’s a great book to read and explains how this “money giving” works!
I have spent some time your country and like it a lot (except for the 25% VAT). While you have high income taxes to pay for your healthcare, it’s a decentralized (locally administered and funded, yes?) system. The rest of your economy is very free, and in many ways more capitalist than the U.S. Your corporate tax rate of 22% is one point higher than ours. Sweden is the opposite of Cuba!