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We decided in 1980 to go down a different path when we elected Ronald Reagan. We have gotten the results that Mr. Reagan said, if you listen to him c… - David Cay Johnston
" "We decided in 1980 to go down a different path when we elected Ronald Reagan. We have gotten the results that Mr. Reagan said, if you listen to him carefully in 1980, we would get, which is that those people that are wealth holders would realize the income from that wealth, and they have. Their actual tax rates, for people at the very top, are 60% lower than what they paid in the 1960s. But at the same time, by getting rid of unions... by having these "free trade deals," which are really deals to drive down the cost of labor; we have driven down the wages and the salaries of the vast majority of Americans... We have also weakened these environmental laws... that were pretty good. So we've put in place a whole mechanism in which we favor profit over labor. ...When you look at the data you can see it ...Returns to labor in the Federal Reserve data go [down with time] and returns to capital have been rising, and since 2009 it's like looking at one of those jet fighters going straight up.
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About David Cay Johnston
(born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 , and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for , writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for and , and is the board president of , Inc. (IRE).
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Birth Name:
David Cay Boyle Johnston
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DC Report
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Additional quotes by David Cay Johnston
Our system for identifying and promoting military officers for leadership actually works. In my biography of Donald Trump I cite the Army Field Manual 6, which is the selection of officers for promotion because they have leadership skills. ...[S]omeone ...had reduced this to 6 basic lessons. Do you take responsibility for what you do? Do you credit other people? Are you open to recognizing a mistake and correcting it, etc. ...Donald Trump flunks every one of those measures. ...But, because he doesn't have real leadership skills, he's who he is. He's a con man and a con artist. He's not a business man, he's a cash extractor who gets a hold of a business, takes cash out of it and puts it aside. He's not capable of being a tyrant and taking over the country. ...But we need to worry about what happens when someone comes along who has a really deep philosophy.
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The telecommunications companies wanted to build the most profitable electronic toll road possible. Their aim was, first, to spend as little as possible on technology, which... meant slow Internet service for many... Second... serve areas where lots of customers... would buy a monthly pass... sparsely populated areas were at best incidental to such plans. Third... set prices as high as the market would bear, even if it meant many... could never afford to access this electronic roadway.
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