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Junkdrawer

(27,993 posts)
Tue Jul 10, 2012, 03:43 PM Jul 2012

How much Wealth (and hence Power) should one person/family be ALLOWED to accumulate? [View all]

If you say "No limits", then how do you handle the most obvious contradiction at the heart of Capitalism:

The more money you have, the more power you have, the more money you have, the more power you have, ad infinitum.

Today, the top 400 families in America have over half of the wealth. Should we wait until 10 families control 90% of the wealth?

I think the Trust Busting efforts of the early 20th Century is what gave us the quasi-democratic reprieve of the 40s, 50s, 60s, and 70s.

When Reagan stopped enforcing Anti-Trust laws, democracy began it's current slide.

Taxing WEALTH as opposed to INCOME is probably the most radical idea I can think of short of armed revolution. It's also LONG overdue.

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No preordained limits on what someone can amass IF hifiguy Jul 2012 #1
There's Really Several Pertinent Iggy Jul 2012 #2
We all want to say "No Limits".... Junkdrawer Jul 2012 #5
Oh I agree it's a Problem Iggy Jul 2012 #7
Agree so much. The greatest fallacy of capitalism, or most 'isms' is not RKP5637 Jul 2012 #3
I really want to keep the baby and toss the bath water.... Junkdrawer Jul 2012 #6
Yep, people are often power and wealth hungry. There are many in the RKP5637 Jul 2012 #11
10% wealth tax every year on all net worth... meaculpa2011 Jul 2012 #4
Where is the federal government given the power to do this? badtoworse Jul 2012 #8
Also an ex post facto law, unconstitutional as well. nt kelly1mm Jul 2012 #9
The last part was a joke. meaculpa2011 Jul 2012 #12
So why was the 16th Amendment needed? badtoworse Jul 2012 #14
Does this mean my real estate taxes are unconstitutional? Junkdrawer Jul 2012 #16
I believe the power to tax real estate is reserved for the states... badtoworse Jul 2012 #20
Nah, 2% wealth tax on net worth above $13 million (the 1%) until the wealth curve is flatter, then stevenleser Jul 2012 #21
Unlimited as long as they pay taxes at the same rate as the rest of us - including SS. HopeHoops Jul 2012 #10
Huge fortunes PETRUS Jul 2012 #13
I don't think such a restriction is required IF TheKentuckian Jul 2012 #15
Asking the wrong question, imo Cal Carpenter Jul 2012 #17
No limit. Just add some more brackets in the tax code. MrSlayer Jul 2012 #18
Inherited wealth will be the downfall of Democracy if left unchecked. Ikonoklast Jul 2012 #19
Everybody sing: "We Did It Before and We Can Do It Again".... Junkdrawer Jul 2012 #22
"Taxing WEALTH ... is the most radical idea I can think of short of armed revolution".... Junkdrawer Jul 2012 #23
It's not so radical...we already tax property, which is half of all wealth. reformist2 Jul 2012 #24
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