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Then, we get a deregulalatory bonfire: lower taxes for the rich, looser rules for finance, fewer protections for workers, less spending on social programs.

This makes the rich richer, even as wages stagnate. The next 40 years are a procession of ever-more-wealth-friendly policies and politicians - not just the Bush years, but also Bill Clinton's welfare bill and Obama's foreclosure crisis - and the rich get richer and everyone else gets poorer.

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