this post was submitted on 04 Jul 2024
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He helped the rise of the billionaires in extremely direct material ways
And got basically nothing in return until 2008! For 30+ years was living in a one story house with a 100k net worth passing industrialist gift bills out of faith in the system! Just an epic loser and rube.
Yep.
Biden was a key bipartisan supporter of the Bankruptcy Reform Act of 2005 that made it easier for lenders to squeeze money from distressed families trying to file for bankruptcy.
Biden repealed parts of the Glass-Steagall Act, allowing commercial banks, investment banks, and insurance companies to consolidate (Gramm-Leach-Bliley Act of 1999), and directly set us up for the 2008 financial crisis that caused huge wealth consolidation in America.
He voted for the Tax Reform Act of 1986, which lowered the top marginal tax rate from 50% to 28%.
Hell, even at various points in the debate he was incoherently complaining about these things like he didn't directly contribute to this bullshit.