Re: The problem
I find it a bit disturbing how some Americans, the very same who have created each and every financial meltdown since the "thirties" boost about how the American middle class absorbed it without a sound why the Europeans complain.
Ah yes, America, the land of the free, where it is everyone's God given right to be screwed by the big corporations.
They're all at it, and it has a debilitating effect on the US economy.
And when it comes to paying taxes the corporations are expert at avoiding it, the wealthy employ accountants to minimise it, and it's the average Joe who ends up shouldering the bulk of it.
Look at one example, Apple. They have so much cash they don't know what to do with it. To pay a dividend they don't repatriate that profit, because it would be taxed. Probably some where in the region of $60billion (they've thought to have $150billion-ish, profit earned and languishing in accounts, which would otherwise have been taxed at 40%). Instead they borrow money, pay a dividend from that, and claim tax relief on the repayment! That tax relief is paid for by US citizens!!!!
That sort of thing may well be legal, but it is going to lead to trouble if every company does it and does it for too long. It is not sustainable.
And so we end up with someone like Trump being astonishingly (and from most view points, appallingly) popular. One of his lines - "Rich people are gonna have to pay more tax" - will ring true with a large majority (even if it is double standards on his part).
He's standing on an anti-establishment ticket. One thing history teaches us - establishments are useless at spotting some one like Trump coming for them and are useless at responding effectively. He's popular because a lot of Americans are unhappy able they way their country is being run, and that is partly the fault of the Industrial-Political clique (of which Apple, Google, MS, Uber, Amazon, etc. are a part) that runs the place.
If the USA was a place where contentment was more evenly spread, Trump wouldn't stand a chance. Aggressive corporate business practices build an environment where a nutter like Trump can succeed.
Is it good for long term shareholder value to create the conditions for someone like a Trump to thrive?
No, it is not. I fear we may find out starting January next year.