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onecaliberal

(34,346 posts)
Fri May 10, 2024, 06:14 PM May 10

Houston, we have a problem. [View all]

https://masto.ai/@rbreich/112418964402378951

rbreich
Robert Reich
@rbreich@masto.ai
813 US billionaires control a record $5.7 trillion in wealth.

The bottom 50% of Americans control $3.7 trillion in wealth.

When ~800 people control more wealth than half a country’s population, we have a very serious problem.
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Houston, we have a problem. [View all] onecaliberal May 10 OP
I guess I wonder what the "problem" is TexasDem69 May 10 #1
HMMM, what could be corrected to allievate this situation? FHRRK May 10 #3
Educate me TexasDem69 May 10 #7
End corporate welfare in the form MadameButterfly May 10 #8
Awesome post. Thank you! dmr May 10 #19
Thanks! MadameButterfly May 10 #21
Super excellent list. Problem is... Justice matters. May 10 #46
Almost impossible and almost true MadameButterfly May 10 #54
I admire your measured optimism. It's what we need more than anything these days . . . Journeyman May 11 #63
a perfect brilliant common sense quote for a time of fake news, cult worship, and pessimism MadameButterfly May 11 #75
Excellent post. Thanks. c-rational May 10 #51
Just so you know. Brenda May 11 #64
Yes, agreed MadameButterfly May 11 #79
How does net neutrality fit into this? onenote May 11 #66
If service is faster or better for the rich or other priveledged people MadameButterfly May 11 #77
Compliments 90-percent May 11 #68
The problem isn't that we have "tax breaks and loopholes." jmowreader May 11 #69
Some deductions are good and created for the good of society MadameButterfly May 11 #76
Progressive taxation, which we had until Reagan. mjvpi May 10 #10
But the wealth is generally not taxable under current code. erronis May 10 #12
So we need to restructure the tax code so they can't do that MadameButterfly May 10 #16
Warren's wealth tax would barely cover a months worth of our annual Deficit, much less do anything about Debt or Silent Type May 10 #31
The solution is a Financial Transaction Tax - read Ellen Browns article below to understand it. airplaneman May 10 #57
Fascinating MadameButterfly May 10 #59
Would love for us to find a tax that would pay for everything. But Brookings says a 0.1% FTT would raise $80 B Silent Type May 12 #85
You need to read Ellen Brown article I cited she is very clear airplaneman May 12 #87
I'll trust Brookings and the Congressional Budget Office. Silent Type May 12 #88
I'm just trying to share information here. The Brookings article is talking about FTT on Stock Trades only airplaneman May 12 #89
Info and other viewpoints are fine. If there is some relatively painless magical way to fund our needs, I'm all for it. Silent Type May 12 #90
And until they sell their assets (and pay capital gains tax) that wealth is paper value. brooklynite May 10 #47
Not really so for assets with quite liquid markets. unblock May 10 #53
Majority rule would also help MadameButterfly May 10 #17
Great posts bdamomma May 10 #49
All either impossible TexasDem69 May 11 #73
Beware minority rule MadameButterfly May 11 #78
Income tax policy to at least stop the flow, keeping the imbalance from getting worse. paleotn May 10 #20
We need to win the presidency and reform the Supreme Court MadameButterfly May 10 #34
Thanks for being willing to accept higher taxes MadameButterfly May 10 #35
With all due respect, that's your job. Joinfortmill May 11 #72
Really? Anyway, Piketty recommends ... Dave says May 10 #30
The solution is, they need to pay the same taxes Meadowoak May 10 #45
With that kind of money, they can control the message by buying ... aggiesal May 10 #50
We've needed trustbusting for a long time, especially in media MadameButterfly May 10 #55
They already did that. live love laugh May 11 #61
Did you forget your sarcasm emoticon? happy feet May 11 #62
The problem is the bottom 50% clearly control too much wealth.... getagrip_already May 11 #82
Starts with a T. Ends with an S kcr May 11 #83
Kickin' Faux pas May 10 #2
Obvious, nocoincidences May 10 #4
Only if you are on a high fat, low fiber diet. erronis May 10 #13
California rich people. They're the lean and free of nasty chemicals. paleotn May 10 #22
CA has money woes. SleeplessinSoCal May 10 #25
Just you wait.. Permanut May 10 #5
Sure it will; second Tuesday of next week. onecaliberal May 10 #6
Is that anything like getting pissed on? paleotn May 10 #23
I've been saying serious for years and it's gotten worse. It's unsustainable. It won't last. . . . nt Bernardo de La Paz May 10 #9
It could easily last under a Drumph election Evolve Dammit May 10 #15
100% Wealth Tax on Estate Amounts Over $10 million. DJ Synikus Makisimus May 10 #11
But that is the rule, surely? Aussie105 May 10 #14
There are several changes we could make in this country slightlv May 10 #18
We want a baseline of survival out of humanity but MadameButterfly May 10 #36
I agree with you Madame... slightlv May 10 #52
Yes, I've had fantasies of the country splitting into two so we could MadameButterfly May 10 #56
Yes on all points:. The problem is republicans. onecaliberal May 12 #84
This was the goal for Constitutional Originalists. SleeplessinSoCal May 10 #24
alito and roberts are determined to take us back to the 1800s onecaliberal May 10 #26
next generation won't know we once had a healthy middle class. SleeplessinSoCal May 10 #27
I never voted for a recon. My dad was a WWII Veteran. onecaliberal May 10 #33
If we cut rich people's taxes more Johonny May 10 #28
What percentage of the 800 are REPUBLICANS? live love laugh May 10 #29
My guess MadameButterfly May 10 #37
If that's true, people would see that as a political advantage for them. Renew Deal May 10 #41
They do. onecaliberal May 10 #44
Mine too. At least 90%. live love laugh May 11 #60
The dangers of Oligarchy MadameButterfly May 11 #74
I wonder the very same things. live love laugh May 11 #80
This might be a stretch but, Mr. Evil May 10 #32
That's the short plot line of "Don't Look Up" and also of the "Left Behind" series. erronis May 10 #39
the problem is capitalism Be The Light May 10 #38
Unfettered and unregulated capitalism. erronis May 10 #40
K&R onecaliberal May 10 #43
The American Dream....Capitalist version. Ping Tung May 10 #42
Rutger Bregman, Dutch historian said it at Davos 2019: PAY YOUR TAXES appalachiablue May 10 #48
So true. And I've talked with people that object to higher-end tax rates with the same logic as lower-end tax rates. byronius May 10 #58
Also check out this series in Propublica that outline how the wealthy hide money and avoid taxes erronis May 11 #65
Post ww2 90-percent May 11 #67
My horrifying hope 90-percent May 11 #70
Yup, tax these M*fuckers. Joinfortmill May 11 #71
Organized - Billionaires gather yearly at a finance conference SupportSanity May 11 #81
Frankly and honestly, I thought the proportions would be worse. BobTheSubgenius May 12 #86
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