r/technology • u/DontFearTheCreaper • 20h ago

Social Media Tech CEOs who grinned behind Trump at inauguration lose billions in wake of tariffs

https://www.independent.co.uk/news/world/americas/us-politics/trump-tariff-bezos-musk-zuckerberg-b2727147.html
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u/DouglasHundred 19h ago

I mean, it's an economic system they designed to work for their exclusive benefit, so it's hardly a surprise.

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u/ovirt001 19h ago edited 19h ago

There was a period of a few decades where taxes and regulations reined in wealth concentration. Since the 80s that has been carefully rolled back.

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u/newbie527 19h ago

We need another Franklin Delano Roosevelt. We need a newer deal.

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u/Brave_Quantity_5261 17h ago

Yes we do.

In his time, all his friends and family were among the richest in the USA (elite class) and they felt absolutely betrayed by FDR for essentially doing the opposite of what is happening today.

It’d be like Zuckerberg or Bezos getting into the White House and taxing the upper class to fund social safety nets for the lowest earners and starting a bunch of public works projects to get everyone decent jobs/wages.

His peers hated him, but he really got us out of a depression and built more stability that lasted decades.