"The Business Roundtable is an association of more than 200 CEOs of America’s biggest corporations, their most powerful voice in Washington.
Last Wednesday, its chair, Joshua Bolten, told reporters that his group planned to drop 'eight figures' while 'putting its full weight behind protecting and strengthening tax reform.'"
@timo21 Good points. I think they're rallying and circling the wagons because they think that in a second term, Biden would be off the leash when it comes to implementing economic and tax reforms they do not want.
"Billionaire money is now gushing into the 2024 election. Just 50 families have already injected more than $600 million into the 2024 election cycle, according to a new report from Americans for Tax Fairness. Most of it is going to the Trump Republican Party."
@RoguePlayer We can't effectively imagine where all that money is coming from because the Supreme Court has blocked our access to that information with Citizens United.
The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise about $313 billion a year for the global fight against poverty, inequality & global heating
Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else by Chrystia Freeland
There has always been some gap between rich and poor in this country, but in the last few decades what it means to be rich has changed dramatically. Alarmingly, the greatest income gap is not between the 1 percent and the 99 percent, but within the wealthiest 1 percent of our nation.
Nina Burleigh comments on the acquisition of Trump Media & Technology Group yesterday, making him some 3 billion richer on paper:
"This is the deus ex machina - the hand of a god - coming down from above to save Trump just as New York State prepares to seize his properties for nonpayment of a nearly half-billion dollar bond."
"It is also a classic Trumpy long con, the essential Trumpworld business practice. In every way, it is the essence of Trumpism, a textbook example of how the fake businessman’s businesses operate, all empty gilded shells, branding over substance, entities that, once established, operate like pyramid schemes run by Mafiosi, attracting get-rich-quick sharps whose base instincts are only held in check by threats of blackmail and revenge."
"In a news interview in 2011, when he was ostensibly mulling a run for president, Donald Trump said that 'part of the beauty of me is that I'm very rich. So if I need $600 million, I can put $600 million myself. That's a huge advantage. I must tell you, that's a huge advantage over the other candidates.'"
@CharJTF I always welcome folks pointing me to good material! Just wanted to say that I agree with you about the importance of those articles and had actually read them and shared one of them — because, just as you say, they're important.
@MikeDunnAuthor I think I "yupped" so hard throughout this paper I hurt myself.
"Inequality also increases consumerism. Perceived links between wealth and self-worth drive people to buy goods associated with high social status and thus enhance how they appear to others — as US economist Thorstein Veblen set out more than a century ago in his book The Theory of the Leisure Class (1899). Studies show that people who live in more-unequal societies spend more on status goods."
@MikeDunnAuthor ...bingo....tax policy has been a wreck, turbo-charged by equally damaging court rulings allowing unrestrained money contributions into the political process.....those failures feed on the 99%.....
Today in Labor History March 11, 1850: French anarchist Clément Duval was born. His theory of individual reclamation, which justified theft, and other crimes, as both educational and legitimate ways to redistribute the wealth, influenced the Illegalists of the 1910s, including Jules Bonnot, of the Bonnot Gang. According to Paul Albert, "The story of Clement Duval was lifted and, shorn of all politics, turned into the bestseller Papillon."
Limitarianism The Case Against Extreme Wealth by Ingrid Robeyns
"A powerful case for limitarianism—the idea that we should set a maximum on how much resources one individual can appropriate. A must-read!"
—Thomas Piketty, bestselling author of Capital in the Twenty-First Century
An original, bold, and convincing argument for a cap on wealth by the philosopher who coined the term "limitarianism."
@appassionato@bookstodon
As my old econ prof John Photiades used to say, "Everyone talks about a minimum wage, but no one wants to talk about a maximum wage."
Die Ziehung (von der selbstverständlich Redaktionsmitglieder und Mitherausgebende ausgeschlossen waren) hat inzwischen stattgefunden, gewonnen hat diesmal @PeterUrfels - herzlichen Glückwunsch!
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For the worker to make as much as Musk’s wealth increased in 2023, $92 billion, the worker would have to work over 979,600 years.
Musk’s wealth growing over $252 million in an average day in 2023 means that it grew more than $10.5 million in an average hour which comes to more than $175,000 in a single minute.