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'New Gilded Age' Reaches New Heights With World's Billionaires Owning Staggering $6 Trillion


#1

'New Gilded Age' Reaches New Heights With World's Billionaires Owning Staggering $6 Trillion

Jake Johnson, staff writer

"At what point will society intervene and strike back?"


#2

Tom Steyer concluded in a recent op-ed for the Los Angeles Times. "Let’s raise taxes on the rich… Let’s boost wages to stimulate economic growth and job creation…

Tom, no one is preventing you from paying more in taxes if you want, and no one is preventing you from increasing the wages you pay, or preventing you from hiring more people…

In MA, we allow people to pay an “optional” higher tax rate - 5.85% instead of 5.2%. roughly 1,100 people choose to pay it (0.016% of the population). I always love how people who advocate for higher taxes for people in general happily pass up the opportunity to pay their “fair share”.

BTW - Liz Warren does not opt to pay the higher state tax rate


#3

The point of the article is unrestrained piracy by capitalists will soon have consequences unpleasant for all pirates.

Let them eat cake leads to the guillotine, a ghastly method of poverty relief that was called the printing press and merely begot a foolish cowardly general named Napoleon.


#4

Quotes are fun. From a column by Ben Stein, a conservative in favor of higher taxes:

It turned out that Mr. Buffett, with immense income from dividends and capital gains, paid far, far less as a fraction of his income than the secretaries or the clerks or anyone else in his office. Further, in conversation it came up that Mr. Buffett doesn’t use any tax planning at all. He just pays as the Internal Revenue Code requires. “How can this be fair?” he asked of how little he pays relative to his employees. “How can this be right?”

Even though I agreed with him, I warned that whenever someone tried to raise the issue, he or she was accused of fomenting class warfare.

“There’s class warfare, all right,” Mr. Buffett said, “but it’s my class, the rich class, that’s making war, and we’re winning.”


#5

One of the problems is the mindset of there being a “middle-class”, there is none obviously. There has been in the past a cry for a “war on poverty”, in some countries it was listened to and has worked but they are not capitalistic countries either. Capitalism is the root of this evil. It may also be the leading cause of the drug problem here in the U.S. of A., people are faced with a loose loose situation of non-inclusion.


#6

"At what point will society intervene and strike back?"
Never. At least not in the USA.


#7

What people do not understand is that growing inequality in income translates into ACCELERATING wealth inequality
because each year a bigger chunk of the income of the rich is retained and becomes (often income producing) wealth.
As income diverges more and more, wealth diverges even more.


#8

“The old neoliberal argument, the trickle down economics, is time and time again proved to be wrong with the empirical evidence and in the results of what happens in economies. It’s worth remembering that in the 1950s under President Eisenhower, hardly a left wing president, the marginal rate of tax in the US for the very, very top was 90%, and yet during the '50s and '60s growth in the American economy has never been faster. We’ve never seen that level of growth again when the marginal rate of income tax was 90%.”


#9

“Let’s raise taxes on the rich… Let’s boost wages to stimulate economic growth and job creation. It’s the only way we will create broad prosperity, rebuild the middle class, and give working families a fair shake.”

No, there’s another, better, more efficient and equitable way: replace rapacious capitalism with socialism.


#10

If you want to work to take political action to tax the rich appropriately (meaning at a rate that will end billionaires), then you need to leave the duopoly that is owned by the super-rich and come and join us in the Green Party, a party that rejects big money and will not take it. We are committed to a living wage, health care for all, a public college education as a right for anyone who qualifies academically, and gutting the defense budget. We are pledged to recreating a fair tax code that ends the extreme concentration of wealth that has been going on now for nearly 40 years, and gives average people the benefits that will enable them to live decent lives. We as a society have the money to do what needs to be done. The right is lying to you that we don’t have the money. We just have to take it from their selfishly rich owners in the form of confiscatory income and estate taxes. Nobody is entitled to be a billionaire at the expense of everyone else! Come join us in the Green Party, a party run from the bottom-up, by and for common people, that will never allow itself to be co-opted by big money. It is up to us, the voters to make this happen. All the power centers are aligned against us. The movement only works if common people decide they have had enough and rise up in political revolt. #Demexit to the Green Party 2017!


#11

I suspect the Greens already have their presidential candidate from here on out.


#12

Genedebs,

I’m with you. I attended a small meeting between Baltimore and Washington DC last week with fellow Greens from several surrounding counties. The featured speaker was Ajamu Baraka, Dr. Jill Steins VP candidate in last year’s election.

This man spoke to the dangers we face because the masses have chosen to support the Duopoly who has lied for decades in their ongoing support for the MIC and Empire.

Ajamu said our best policy in moving forward is to reach out to others and explain that the most important thing to all living humans is Peace.

And Peace is the Green Party’s most important platform goal, and this should be all Americans goal as well for themselves, their children, and future generations.

The Duopolys goals are just the opposite and that is shown in their support of maintaining Empire and the MIC.

We are on the right side of history Genedebs.

Hopefully, our fellow Americans will awake to their support of the Death and Human Suffering the Duopoly dispenses without feeling or consequence.


#13

Can’t wait for the public auctioning of all their ill begotten loot


#14

The capitalist thieves and pirates will use any scheme/method necessary to get at the loot. Capitalism is a disease and if left untreated will destroy the entire planet.


#15

It already has. The 6th extinction is well underway with 9 to 13 years left before we humans become extinct. Note the recently reported loss of insects.


#16

They’re frolicking on their luxury yachts while forty millions Americans scramble to get by on food stamps. No, I’m not envious. I want equality and justice, for all…


#17

Buffett’s correct. Another example of someone talking out of both sides of his mouth at the same time.

Just one more example of why one should never trust hypocrites.


#18

Amen bother but when people believe that JFK was killed by a lone gunman or that the towers came down by fire, there isn’t much hope. The California primary was an example of the corruption. Thousands turned out for Bernie and hundreds for the Hildebeast. Yet, she “won” ! If the 99% don’t embrace the Green Party, they deserve whatever befalls them.


#19

Buffet is the hypocrite. He was a big Bush supporter, the idiot son. Then he pushed for the Hildebeast. Another fraud masquerading as a common folk. Buy a newspaper you old fraudster and print the truth to counter the MSM lies. Never happen. He is part of the oligarchy that runs the world.


#20

A billionaire environmentalist?