"And the wealthy and well-organized interests within both parties contest elections by funding and working to get their kind of political leader, their warriors (politician) elected."
Yes. Now it seems, not only are the wealthy avoiding paying for government while funding politicians, now we're seeing the beginnings of a new era of billionaires hiring governments to do their bidding directly. Look at how South Dakota is pointing the way to states providing mercenary forces for their paying billionaires who avoid taxes.
This seems to be combined in the same "party" with an infusion of expanded christian identity (or sovereign citizen, or neo nazi, or some other armed paramilitary anti-government group), that outright rejects the authority of our democratic government. They never signed a contract is what I've been told.
I think our divisions cut too deep. As someone who had first hand, personal interactions with Robert Deer, a hero to many, I can say this growing divisiveness is a giant festering wound that frankly may not find a cure. We can't have a democracy if only some of us want it.
Let's see what Congress does with the new global tax initiative. Can the GOP oppose what is clearly in the national interest on this one. Don't know anything about South Dakota issue. I'll look it up. As for the "wound" some die on the battlefield and some recover. The adage is that the broken part becomes stronger than before when it heals. Again, we will see. This is an age of unleashed power. But there is a balance of forces. Can we say the forces are stronger on either side. There is no certainty, but I would bet on the inherent strengths of the system.
I think it doesn't matter what the income tax rax is when the wealthy can borrow against stocks and/or companies whithout it counting as income. So I'd really like them to take a look at that.
Yes, that's true. The other part of the problem is the rampant manipulation of that capital that elites use to enrich themselves.
A few years ago before covid, I helped my son set up a Robinhood account. One of the things we looked at was long term investing in companies that are actaully growing sales from 1 year to the next. Of the S&P 500, only 5 companies met this. The rest are stagnant, or worse, zombie companies. This has worked for him so far.
With all this free money in capital though, along with high demand, the value of stocks have skyrocketed. But not the economy. Still, big stock holders can skip "income" and instead go to a banker and borrow at super low interest rates, using company stocks as collateral. No tax paid. Since the stocks are in a company, I think this should be cunted as income from the company to the person.
Good luck getting anything that increases taxes for the wealthy through out political system though.
Excess capital can fund stock buybacks and create speculative bubbles. It is then rent taking and not value producing. We need to zero in on all practices that increase value "taking" at the expense of value producing. That should be the reform agenda for the immediate future.
"And the wealthy and well-organized interests within both parties contest elections by funding and working to get their kind of political leader, their warriors (politician) elected."
Yes. Now it seems, not only are the wealthy avoiding paying for government while funding politicians, now we're seeing the beginnings of a new era of billionaires hiring governments to do their bidding directly. Look at how South Dakota is pointing the way to states providing mercenary forces for their paying billionaires who avoid taxes.
This seems to be combined in the same "party" with an infusion of expanded christian identity (or sovereign citizen, or neo nazi, or some other armed paramilitary anti-government group), that outright rejects the authority of our democratic government. They never signed a contract is what I've been told.
I think our divisions cut too deep. As someone who had first hand, personal interactions with Robert Deer, a hero to many, I can say this growing divisiveness is a giant festering wound that frankly may not find a cure. We can't have a democracy if only some of us want it.
Let's see what Congress does with the new global tax initiative. Can the GOP oppose what is clearly in the national interest on this one. Don't know anything about South Dakota issue. I'll look it up. As for the "wound" some die on the battlefield and some recover. The adage is that the broken part becomes stronger than before when it heals. Again, we will see. This is an age of unleashed power. But there is a balance of forces. Can we say the forces are stronger on either side. There is no certainty, but I would bet on the inherent strengths of the system.
I think it doesn't matter what the income tax rax is when the wealthy can borrow against stocks and/or companies whithout it counting as income. So I'd really like them to take a look at that.
Yes, part of the problem is a surplus of capital, exceptionally low interest rates., Almost free money.
Yes, that's true. The other part of the problem is the rampant manipulation of that capital that elites use to enrich themselves.
A few years ago before covid, I helped my son set up a Robinhood account. One of the things we looked at was long term investing in companies that are actaully growing sales from 1 year to the next. Of the S&P 500, only 5 companies met this. The rest are stagnant, or worse, zombie companies. This has worked for him so far.
With all this free money in capital though, along with high demand, the value of stocks have skyrocketed. But not the economy. Still, big stock holders can skip "income" and instead go to a banker and borrow at super low interest rates, using company stocks as collateral. No tax paid. Since the stocks are in a company, I think this should be cunted as income from the company to the person.
Good luck getting anything that increases taxes for the wealthy through out political system though.
Excess capital can fund stock buybacks and create speculative bubbles. It is then rent taking and not value producing. We need to zero in on all practices that increase value "taking" at the expense of value producing. That should be the reform agenda for the immediate future.