While most people tend to think of America as a free market capitalistic country, people really need to understand that America is actually Socialism for the rich and really harsh capitalism for the rest of us.
Robert Reich goes into showing how General Motors received sums in the amounts of $500-600 million and how some of that corporate welfare has gone into the GM executives pockets. At the same time this happened, GM has planned to lay off more than 14,000 employees from it's factories and close 3 plants.
He also goes over the $83 billion subsidy that the big banks which are "too big to fail" enjoy. These are obviously paid for by the US tax payer dollars.
If you guys still remember the Equifax hack that lost millions of people's personal information, it's CEO Richard Smith is now retiring with a $18 million pension I guess as a reward for the screwups that he did. The only sense to make of this is that this is social welfare and socialism for the rich. He presents a similar case for Wells Fargo's CEO Carrie Tosltedt as well.
Where did the meritocracy go? Where did fairness go?
