So wealthy business owners bribe our elected officials to vote in the interest not of their constituents, but in the interests of big capital.
Careful here, Jack. You’re setting up a dichotomy which is not always true.
Obviously, there are “interests” of big capital which diverge from that of the constituency. However, in the majority of cases, the interests of big capital align, not oppose, with the interests of the constitutency.
If we can change the tax code to end the incentives for offshoring, and thus new jobs are created at a faster rate in the US than in the past, then that’s in the best interests of both parties. Just to cite one example.
So, we’re not disagreeing that the power of the corporation can cause a divergence between their interests and that of the people, politically. Point here is that more often than not, the interests of the two groups align.
Businesses are still profitable here, just less so. That difference in profitability is what allows living wages even for low level jobs, tax funded higher education, maternity leave, etc.
Any data of this? My sense, without starting to pull 10K’s, is that it’s the other way around. US business runs at higher profit margins than overseas.
Or, did you mean to refer to gross profit margins before wages and salary?