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Michigan lawmakers target predatory loan companies; NY jury hears tape of Trump and Cohen Discussing Hush-Money Deal; flood-impacted VT households rebuild for climate resilience; film documents environmental battle with Colorado oil, gas industry.

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President Biden defends dissent but says "order must prevail" on campus, former President Trump won't commit to accepting the 2024 election results and Nebraska lawmakers circumvent a ballot measure repealing private school vouchers.

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Bidding begins soon for Wyoming's elk antlers, Southeastern states gained population in the past year, small rural energy projects are losing out to bigger proposals, and a rural arts cooperative is filling the gap for schools in Pennsylvania and West Virginia.

Who’s “Dismantling” the American Dream?

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Monday, October 28, 2013   

PORTLAND, Maine - Hedrick Smith won a Pulitzer Prize for his reporting on the Soviet Union and wrote a best-seller called "The Russians." Now it's America that's under the magnifier wielded by Smith, a former New York Times editor and a correspondent on the PBS show "Frontline."

According to Smith, the 22 million Americans who are still out of work, and the nation's dysfunctional political system, are contributing to the "dismantling" of the American Dream.

"I think there is a great frustration at the moment with the functioning of the political system, with campaigns that are dominated by money, with an economy that's increasingly unequal."

Smith's book, "Who Stole the American Dream?", has just been released in paperback. In it he cites, among other things, a transfer of $6 trillion in middle-class wealth from home-owners to banks and says a U.S. policy tilt favoring the rich is stunting the country's economic growth.

Smith said a lot could be accomplished by closing tax loopholes.

"We can do tax reform in corporate taxes and do what a lot of people want to do, lower the rates but stop the giveaways to the big corporations and the banks that are already making enormous profits," he declared.

Smith argues that major policy changes that began in the 1970s led to a "New Economy" that has disrupted America's "engine of shared prosperity."



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