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    Default What Taxing the Rich Could Yield

    America’s 15 wealthiest families are worth a combined $618 billion. That’s not good for our economy—or our democracy.

    The New York Times investigation into the Trump family’s financial misdeeds recently revealed what had been obvious to most: The president is no self-made man. Like so many bombshell stories about the president, this story has been largely overlooked as new and more flagrant Trump indignities erupt nearly every day. Yet the tactics that the report shines a light on are hardly peculiar to the Trumps. Many wealthy families use similar tactics to stockpile their wealth and keep it from taxation that could reinvest it to meet the nation’s needs. And in doing so, these families keep building wealth with which they can wield political power.

    A new report from the Institute for Policy Studies (IPS) takes a close look at the billionaire multi-generation families who wield that power—the American dynasties. Taking their cue from the Forbes 400 list of the wealthiest people in the United States, the report, "Billionaire Bonanza," by Chuck Collins, director of the Program on Inequality and the Common Good, and Josh Hoxie, director of the Project on Opportunity and Taxation, both at IPS, details how the nation’s 15 wealthiest families—some with household names (Walton, Koch, Mars), some perhaps less-known (Duncan, Bass, Stryker)—are worth a combined $618 billion.

    Overwhelmingly, this is inherited money; the companies from which these families derive their wealth were all started at least a generation ago.

    https://prospect.org/article/what-ta...ch-could-yield


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    Brown pushed for and backed prop 30 but he was also in office during boomtimes for the stock market which is where California generates much of its revenue. Taxes were already high before he took office

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    Quote Originally Posted by cawacko View Post
    Brown pushed for and backed prop 30 but he was also in office during boomtimes for the stock market which is where California generates much of its revenue. Taxes were already high before he took office
    Oh gee golly we all know it’s absolutely impossible for a liberal politician to govern responsibly by balancing a budget by increasing taxes on those who benefit the most from government services. That’s just silly think. We all know that the correct solution is to starve government into bankruptcy and reduce all us peasants into living in stone huts so we don’t need services.
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    Quote Originally Posted by Mott the Hoople View Post
    We all know that the correct solution is to starve government into bankruptcy and reduce all us peasants into living in stone huts so we don’t need services.
    don't be silly......we only need to bankrupt the lib'ruls........

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    Quote Originally Posted by Mott the Hoople View Post
    Oh gee golly we all know it’s absolutely impossible for a liberal politician to govern responsibly by balancing a budget by increasing taxes on those who benefit the most from government services. That’s just silly think. We all know that the correct solution is to starve government into bankruptcy and reduce all us peasants into living in stone huts so we don’t need services.
    My post was in response to the tweet in the OP that Brown is one of the best governors ever because he raised taxes. He pushed for and got Prop 30 passed but that alone doesn’t make a governor great

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    Hi Mott,

    Quote Originally Posted by Mott the Hoople View Post
    Oh gee golly we all know it’s absolutely impossible for a liberal politician to govern responsibly by balancing a budget by increasing taxes on those who benefit the most from government services. That’s just silly think. We all know that the correct solution is to starve government into bankruptcy and reduce all us peasants into living in stone huts so we don’t need services.
    Well of course that is where it is ultimately headed, but we frogs must be boiled slowly so we don't get antsy and jump out.
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    Of course, the premise that rich families are bad for the economy has never been explained....

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    Quote Originally Posted by Dark Soul View Post
    Of course, the premise that rich families are bad for the economy has never been explained....
    Envy.

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    Quote Originally Posted by Dark Soul View Post
    Of course, the premise that rich families are bad for the economy has never been explained....
    Well, if they steal everything, the mugs starve. Meanwhile they prevent the development of as normal health service, so the poor die, despite the system's costing twice what it should. It is amazing you mugs can read and write, fair play!

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    Quote Originally Posted by iolo View Post
    Well, if they steal everything, the mugs starve. Meanwhile they prevent the development of as normal health service, so the poor die, despite the system's costing twice what it should. It is amazing you mugs can read and write, fair play!
    Perhaps you can explain to me how the rich take "take" from the "mugs". What resource, specifically, is limiting such that the mugs go without?

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    Quote Originally Posted by Dark Soul View Post
    Perhaps you can explain to me how the rich take "take" from the "mugs". What resource, specifically, is limiting such that the mugs go without?
    The value of a commodity is the socially necessary labour time put into it. The rich steal the difference between the value and the meagre pittance they pay those who create the commodity.

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    Quote Originally Posted by iolo View Post
    The value of a commodity is the socially necessary labour time put into it. The rich steal the difference between the value and the meagre pittance they pay those who create the commodity.
    Will you rise up?

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    Quote Originally Posted by iolo View Post
    The value of a commodity is the socially necessary labour time put into it. The rich steal the difference between the value and the meagre pittance they pay those who create the commodity.
    Not much of a step away from feudalism as it turns out, of course in america the aristocracy will be blessed with socialism on the backs of the people.

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    Quote Originally Posted by iolo View Post
    The value of a commodity is the socially necessary labour time put into it. The rich steal the difference between the value and the meagre pittance they pay those who create the commodity.
    The rich take the risk to build the company and have the talent to sustain it. The workers have to make not only their own worth but a profit back to the owner to justify employing him.

    But that is just your distraction from my earlier point. What resource, specifically, is limiting such that the rich take it all and mugs go without?

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    Quote Originally Posted by ioloTARD View Post
    The value of a commodity is the socially necessary labour time put into it. The rich steal the difference between the value and the meagre pittance they pay those who create the commodity.
    What a massive pile of stupid; you seldom bring much else to the argument.
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