Michel identifies Citizens United and financial secrecy as structural differences
1 Sep 21 8:00 AM · 5d ago · 1 article · 4 posts · 4 sources · development 1 of 1
Michel contrasts the Gilded Age with modern times by noting that the Tillman Act of 1907 restricted corporate campaign financing, whereas Citizens United (2010) opened elections to unlimited spending by wealthy donors. He also highlights that modern offshore and financial secrecy tools are now available that did not exist historically, further enabling concentrated wealth and political power.
“Today's wealth gap is much bigger, and the country's richest have much more power than they once did. It's an Age of Oligarchy”
Casey Michel, Guardian columnist · mastodon ↗Casey Michel Guardian columnist
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first by Mastodon, 5d ago · also Guardian US
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- We’re not in a new Gilded Age in America: inequality is now far worse | Casey Michel Guardian US · 5d ago
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We're not in a new Gilded Age. We're in something worse. My latest at @theguardian.com on how US wealth inequality has now blasted past anything we've seen before, and how we've now entered the Age of Oligarchy.
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