As a veteran Congressional lobbyist once observed, legislators “would like to do the right thing, if only they can get away with it.” But legislators must please their donors, or risk losing their financial support in the next election. That sad fact was starkly demonstrated in November, 2017, in the weeks before the vote approving the tax cut bill.
Although Ray Dalio, the founder and manager of the largest hedge fund in the world, built a fortune thanks to capitalism, he’s keenly aware that it is a deeply flawed system. “Capitalism basically is not working for the majority of people. That’s just the reality.” Dalio predicts the income gap will only get worse.