PatJ wrote:The rich have become so rich that they control the government and if we look at history, this leads to violence - both political and social.
PatJ wrote:A billionaire, a poor worker, and an immigrant sat together at a table
with 100 cookies. The billionaire grabbed 99 cookies and said to the
worker, "That immigrant is going to take your cookie."
moonshadow wrote:The rich have always controlled the governments of the world, since the dawn of civilization.
Pdxfashionpioneer wrote:[...] CR said that at the typical major corporation the CEO makes 100 or 200 times what the lowest paid worker makes [...]
Pdxfashionpioneer wrote: Sen. Warren's and Rep. Ocasio-Cortez's tax proposals would be excellent starts.
oldsalt1 wrote:Maybe they should start taxing the people in congress .like Pelosi and Feinstein. Feinstein is worth over $ 68 million and Pelosi is over $100 Million
Pdxfashionpioneer wrote:J. P. Morgan had a hard and fast rule for the companies he financed. The President couldn't earn more than 25 times what the lowest paid worker was paid.
I'm not sure what it will take to turn this train around. Sen. Warren's and Rep. Ocasio-Cortez's tax proposals would be excellent starts. Personally, I think the top marginal rate should be in the 90's and the I'm not sure 2 or 3% will be an adequate wealth tax, but it's a great start!
The obliviousness of the folks at the top of the heap is astounding.
To clear up one other point, while in the past the super-rich made their money from their holdings, today's are the CEO's of their companies as well as making money on their portfolios.
Another glimmer of hope is people like Warren Buffet who is appalled at how ridiculous our system has become and some of the technology billionaires who are figuring out that ours is a middle class society and that hollowing it out is not only incredibly unfair, but, in the long-term, bad for their own economic interests.
It's interesting how many progressives got into office in the last election as a reaction to Trump.
crfriend wrote: A billion is two hundred time fifty million.
Jim wrote:I think it's only 20 times fifty million.
I mostly agree with the rest of your analysis, but am not quite so pessimistic.
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