Peter Georgescu: The middle class has been eviscerated, but business can revive it
Peter Georgescu has a written an essay for the Biden Forum.
❝ We are setting ourselves up to relive A Tale of Two Cities by Charles Dickens, except that today it’s the story of two Americas. Just read the headlines: The stock market is booming. Corporate profits are soaring. Business is celebrating historic cuts to corporate taxes. No wonder business leaders are positive about the future. For the wealthiest among us, high fives are indeed in order.
Predictions from government leaders trumpet big benefits to all segments of America — another trickle-down from the rich and big business to all Americans. The rising tide of tax cuts will lift all boats, we are told. But, as in the past 40 years or so, only about 20 percent of Americans have seen their quality of lives go up exponentially. This upper fifth have been reaping all the rewards. They enjoy the best education, access to formal early cognitive development in school, as well as after-school programs, excellent high schools, and the top universities. This has become a plutocratic, privileged group, which enjoys huge tax benefits, exclusive business networking, and the use of their position and capital to influence government policies and more.
[BidenForum.org]
| PETER GEORGESCU is hairman Emeritus of Young & Rubicam & author of several books including, Capitalists, Arise!. Watch him dissect the characteristics of new leadership below, and learn more about booking Jonathan for your next event today. |
