[B]ecause labor returns have gone down there's not enough ... to buy goods and services. ...The next thought should be ...capitalists will change bec… - David Cay Johnston

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[B]ecause labor returns have gone down there's not enough ... to buy goods and services. ...The next thought should be ...capitalists will change because people have to buy their products. No, if your a global level capitalist, it doesn't matter. As long as there aren't riots in the streets, you can sell your goods in other countries.

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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).

Also Known As

Birth Name: David Cay Boyle Johnston
Alternative Names: DC Report
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Additional quotes by David Cay Johnston

The other old democracy... was in Athens. ...Aristotle said democracy means "to rule and to be ruled in turns"... because the system... was designed to ensure that nobody would... cease power. ...Different clans had to be together. You couldn't be segregated. ...[E]very month a different group was in charge. ...[I]t worked for 200 years. [Much of] our Constitution is based... on the experience of Ancient Athens, of .

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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