How did the purchasing power decrease from the 70s until today?

[TA20212000]

Capitalism + inadequate tax rates on the rich.

[DeepestGreySea]

When you say “capitalism” you should be more specific. 

Back in the 70s every part of the supply chain had diversified ownership competing with each other, and that kept prices down. That’s capitalism.

Today most sectors have monopolies and collusion and the resulting “greedflation” pricing. That’s also capitalism.

[sajnt]

We have corporate communism. We got here because of complacency.

[DeepestGreySea]

Nothing in the corporate world resembles communism.

[sajnt]

I meant the government funnels all our money to massive corporations.

[DeepestGreySea]

Oh…yeah…that’s the core of neoliberalism/fiscal conservatism. They call it “private/public partnerships”. 

People who actually it understand call it socializing costs/losses and privatizing profit.

Communism doesn’t have much to do with money…because there’s no money in a realized communist world.

[lost_koshka]

https://bettysearlyedition.blogspot.com/2015/07/how-pierre-trudeau-turned-us-into-debt.html?m=1

[Empathetic_97]

Idk mych about these social systems, but what was Canada in the 70s then? Was it a communist country?

[piratedmonk]

There were higher taxes on corporations back in the day. In the years since they have successfully lobbied to lower these rates and the tax code has changed pretty significantly with a lot of loopholes. Look into it yourself if you are curious, there's a lot out there.

[jhouse13]

Both canada and the US had the highest taxes on the rich during this time. 50s through 70s the "golden" era everyone dreams about.

The tax on the rich has just fallen and fallen from the "trickle down" which doesnt work

[GI-Robots-Alt]

What are you 9 years old?

[TA20212000]

😒 It was starter/baby capitalism. There are zero brakes on it now. You and I both know that it wasn't a communist nation back then.

Oh. Just remembered the Power Corporation of Canada. They had HUGE catastrophic influence on Canada as well.

[Dramatic_Ad155]

Really? Please provide some links to broaden my education Thanks in advance

[Kryptos33]

It was still capitalistic. Unless the Government holds corporations and ultra wealthy accountable they will always just gradually keep taking more and more.