WHY THEY HATE THE RICH
Two decades ago neither Bernie Sanders nor Donald Trump would have been viable presidential candidates in the United States. Bernie because he is a self proclaimed socialist, which was once upon a time a taboo word and the biggest sign of an American’s lack of patriotism. Donald Trump because he’s an inexperienced bigot. Donald Trump’s selling point ironically being a one-percenter himself was similar to that of Bernie Sanders, justice for the American working class who have continuously been disenfranchised as the rich get stinkingly richer.
Certain events have led to the build up of this strong emotion, but one that comes to mind and is freshest in most of our memories is the 2008 financial crisis. Since that time there have been uprisings such as the occupy wall street movement, and most recently the black lives matter movement- yes, that too albeit convoluted is tied to people airing out their grievances over what they perceive to be unfair economic situation.
The U.S federal authorities unleashed a demon when they decided to bail out the distressed banks unknown to any one at the time. People who hitherto had no idea how things work in the corporate world became aware of “golden parachutes”. People immediately seemed to start to pay attention to the fact that the guys at the bottom do a significant portion of the heavy lifting but when the corporation is in trouble, those good guys are sent away with little to no severance package while those responsible for the bad business decision get a cushy landing.
More recently during the U.S presidential election Donald Trump got on the world stage and escalated the issue of the jobs lost to american companies’ prosperity agenda (I have phrased it a lot more sensibly). In a bid to make more profit, which undoubtedly makes economic sense, American companies have relocated to countries with cheaper labour allowing them to both price their goods down competitively and to increase their profit margin. This has of course left a lot of rural Americans who had hitherto worked in manufacturing having to learn new skills and extremely unimpressed with the country they pledge allegiance to.
Both Sanders and Trump knowing where it hurt Americans the most also used their stage to point out how american companies take advantage of tax shelters and end up paying little to nothing in taxes while the American middle and low income earners carry the weight of the tax burden.
People like Ronald Reich, Joe Stiglitz and other advocates for equality made us aware of all that happened at the height of the 2007-2009 event in books and documentaries. Reich made a compelling documentary he and his cohorts cleverly titled “Inequality for all”calling attention to the fact that although the recovery is in effect, working class wages keep declining and have been on the decline even before the financial crisis. Every one at the time was going through terrible times, people lost their homes and livelihoods, and as far as the American eye could see the only people who got help were the stinky rich. What most Americans don’t seem to realize- mostly because they think everything begins and ends with them- is that emerging Europe and Africa are still recovering from a catastrophe that is a result of their carelessness.
Now that the picture is fairly painted I guess I should say, OF COURSE PEOPLE ARE ANGRY.