The latest news on this front comes from a really interesting article at the New York Times Opinion section written by Kim Phillips-Fein, the author of “Invisible Hands: The Businessmen’s Crusade Against the New Deal”. Take a look at this excerpt:
Today, some of the wealthiest Americans may be growing uncomfortable with the political destabilization that can accompany extreme inequality, and some may be anxious about the impact of climate change on their ability to generate profits. But this does not mean that they are eager to do the kinds of things that might actually address inequality or provide a meaningful way forward to a world less in danger of destroying itself. Mr. Fink’s letter may be partly born of good intentions, but the opposition of the Business Roundtable (whose members lead many of the economy’s largest corporations, including BlackRock) to potential corporate tax increases in Build Back Better played a key role in squashing it — and its relatively limited climate proposals.
Read the full article here. Also, visit the main Democracy Chronicles section on American Democracy or our articles on Money Politics and Worldwide Corruption.
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