America was built on ideals, the foundation of our constitution is laden with majestic syntax and imagery, yet these ideals have eluded the vast majority of our citizens. The last 100 years of our history have been in constant imbalance, let us discuss.
1919 – 1959
The period where our economic policies were most democratic was the New Deal Era. The Great Depression spurred President Roosevelt’s first 100 days and an impressive string of legislation. Post WWII we saw our most impressive egalitarian economic growth due to strong financial regulation and immense manufacturing capability. The middle class was available to anyone that could obtain a factory job. The GI Bill made mass public college education attainable for a large portion of the population. Our tax policy was truly progressive and allowed for the social welfare programs President Roosevelt implemented to maintain proper funding. Dividends and capital gains were taxed at much higher rates than today. The rich got rich, but not at others expense.
All the while, Jim Crow laws were in full force. Lynchings and bus burnings were commonplace. African Americans were not allowed to vote, schools were segregated, and our strong ideals remained ideals to so many. Our Japanese American citizens were interned during the war and suffered as POW’s (Prisoners of War) of their own nation. Women were heavily oppressed by their limiting cultural stigmas and assigned roles. Our minorities (many who fought in the war) were treated as second-class humans. Socially, we had many strides to make, but we still managed to be a beacon of hope during WWII.
1960 – Today
In the 1960’s the pendulum began to swing, socially we became much more progressive. The social activism during this period was unprecedented in US history. The Civil Rights Movement, Women’s Movement, Green Movement, Sexual Revolution, and Anti-War protests came together to produce progress in mass scale.
As those in power saw their control dwindling they turned to the business sector to take back the reins. Financial deregulation of the economy beginning in the 1970’s paved the way for high concentrations of wealth and an ever increasing generational wealth disparity among Americans. Tax evasion, financial manipulation and executive compensation have reached heights comparable to the era of Rockefeller, Carnegie and Morgan. Bezos, Gates and Buffet are now worth more than 50% of the US population (Institute for Policy Studies).
This unacceptable distribution of wealth has magnified the prejudice many Americans still hold in their hearts today. Misguided nationalist policy and promise of domestic job growth has taken precedence over the social issues deeply woven into the fabric of our nation; in large part, due to fear stemming from economic inequality. This system of control the wealthy have built carries on by pitting the working class against one another, promoting a materialistic society to control the average American’s priorities and passing legislation that maintains the wealth interest of the top 1% of the population.
We Need Both
Without financial equality, social equality is a fantasy. They rely on each other and they are equally important. To paraphrase what Dr. King said on multiple occasions, you cannot pull yourself up by your bootstraps without any boots. Our nation is at an impasse, the working class comprises of many different races and cultures, and we represent the dream that is America. That dream is fading because of educational inequity and government driven policy protecting the top 1%. The poor people of America all want the same thing, to be able to support their families financially in a safe and prosperous society. We must give them the tools to do so.