@guardian

#UShistory #Economics #Equality

(12/n)

...and the last year for which the #CBO has crunched data, it had dipped to 7.4%."

So, #Biden's presidency was not so democratic based on #LBJ's #GreatSociety vision, as one might have expected, due to the reduction in "egalitarian" wealth transfers.

"According to the #CBO, the legislation reduced the annual income of the poorest tenth of households by 3.1% on average – about $1,200 – while boosting the income of...

👉Condemned to plutocracy? The relentless rise of #US inequality👈

(2/n)

What gargantuan conceptual abyss lies between #LBJ's address at the #UniversityOfMichigan in 1964 + the #MAGA ideology as embodied in the #OneBigBeautifulBill of 2025!--#LyndonBJohnson had a much more egalitarian society for 2014 in mind:

"...in your time we have the opportunity to move not only toward the rich society and the powerful society, but upward to the #GreatSociety.

The #GreatSociety rests on abundance...