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The transition from a governmental society to a feudal one is marked by the rapid accumulation of power and wealth in a few hands, with a corresponding reduction in the power and responsibilities of government. Once the rich and powerful gain control of the government, they turn it upon itself, usually first radically reducing their own taxes, while raising taxes on the middle class and poor. Says Bloch: “Nobles need not pay taille [taxes].”

Bringing this to today, consider that in 1982, just before the first Reagan-Bush “supply side” tax cut, the average wealth of the Forbes 400 was $200 million. Just four years later, their average wealth had more than doubled to over $500 million each, aided by massive tax cuts.

Today, as the Institute for Policy Studies notes, “With a combined worth of $2.34 trillion, the Forbes 400 [individuals] own more wealth than the bottom 61 percent of the country combined, a staggering 194 million people.”59 Forbes magazine, for 2017, reported, “The minimum net worth to make The Forbes 400 list of richest Americans is now a record $2 billion. . . . [T]he average net worth rose to $6.7 billion.”60

While the Forbes 400 richest Americans have gone from an average wealth of $200 million in 1982 to over $6 billion today, the average wealth of working Americans stayed flat, in the face of explosions in the costs of health, education, and housing.

Median household wealth in 2013, for example, was $81,000—about the same as in 1983 (the first year of household wealth surveys by the federal government). 61 But the median price of a house in 1983—around $74,000 (or $180,000 in today’s dollars 62)—has, according to the US Census Bureau, risen to over $220,000 today (and it’s massively higher in most cities).63 In 1983, the average person working a minimum wage job could afford a college education; now there’s over $1.7 trillion in student debt.

And in 2017, Trump and his GOP doubled down on their plan to move America from democracy to feudal oligarchy by cutting more than $1.5 trillion in taxes, most of the cuts directed to the uber-rich and giant monopolistic corporations. As a result, massive companies like Amazon, Chevron, General Motors, Delta, Halliburton, and IBM paid nothing in federal income taxes the next year.

In every sector of our economy, big businesses have been concentrating power since the 1980s, and America’s once-strong middle class has been crushed under their heels...

kalm wrote: ↑Sun Jan 28, 2024 8:50 am Both political parties are willing accomplices here. The claims from leadership in either that they represent honest hard working Americans (the little guy) is hilarious. Populism in support of a major party candidate is tribalistic fanboism.

Obviously, Citizens United sped up the process immensely. Not only undemocratic but also anti-free market capitalism.

The transition from a governmental society to a feudal one is marked by the rapid accumulation of power and wealth in a few hands, with a corresponding reduction in the power and responsibilities of government. Once the rich and powerful gain control of the government, they turn it upon itself, usually first radically reducing their own taxes, while raising taxes on the middle class and poor. Says Bloch: “Nobles need not pay taille [taxes].”

Bringing this to today, consider that in 1982, just before the first Reagan-Bush “supply side” tax cut, the average wealth of the Forbes 400 was $200 million. Just four years later, their average wealth had more than doubled to over $500 million each, aided by massive tax cuts.

Today, as the Institute for Policy Studies notes, “With a combined worth of $2.34 trillion, the Forbes 400 [individuals] own more wealth than the bottom 61 percent of the country combined, a staggering 194 million people.”59 Forbes magazine, for 2017, reported, “The minimum net worth to make The Forbes 400 list of richest Americans is now a record $2 billion. . . . [T]he average net worth rose to $6.7 billion.”60

While the Forbes 400 richest Americans have gone from an average wealth of $200 million in 1982 to over $6 billion today, the average wealth of working Americans stayed flat, in the face of explosions in the costs of health, education, and housing.

Median household wealth in 2013, for example, was $81,000—about the same as in 1983 (the first year of household wealth surveys by the federal government). 61 But the median price of a house in 1983—around $74,000 (or $180,000 in today’s dollars 62)—has, according to the US Census Bureau, risen to over $220,000 today (and it’s massively higher in most cities).63 In 1983, the average person working a minimum wage job could afford a college education; now there’s over $1.7 trillion in student debt.

And in 2017, Trump and his GOP doubled down on their plan to move America from democracy to feudal oligarchy by cutting more than $1.5 trillion in taxes, most of the cuts directed to the uber-rich and giant monopolistic corporations. As a result, massive companies like Amazon, Chevron, General Motors, Delta, Halliburton, and IBM paid nothing in federal income taxes the next year.

In every sector of our economy, big businesses have been concentrating power since the 1980s, and America’s once-strong middle class has been crushed under their heels...

https://open.substack.com/pub/thomhartm ... paign=post

kalm wrote: ↑Sun Jan 28, 2024 8:50 am Both political parties are willing accomplices here. The claims from leadership in either that they represent honest hard working Americans (the little guy) is hilarious. Populism in support of a major party candidate is tribalistic fanboism.

Obviously, Citizens United sped up the process immensely. Not only undemocratic but also anti-free market capitalism.

The transition from a governmental society to a feudal one is marked by the rapid accumulation of power and wealth in a few hands, with a corresponding reduction in the power and responsibilities of government. Once the rich and powerful gain control of the government, they turn it upon itself, usually first radically reducing their own taxes, while raising taxes on the middle class and poor. Says Bloch: “Nobles need not pay taille [taxes].”

Bringing this to today, consider that in 1982, just before the first Reagan-Bush “supply side” tax cut, the average wealth of the Forbes 400 was $200 million. Just four years later, their average wealth had more than doubled to over $500 million each, aided by massive tax cuts.

Today, as the Institute for Policy Studies notes, “With a combined worth of $2.34 trillion, the Forbes 400 [individuals] own more wealth than the bottom 61 percent of the country combined, a staggering 194 million people.”59 Forbes magazine, for 2017, reported, “The minimum net worth to make The Forbes 400 list of richest Americans is now a record $2 billion. . . . [T]he average net worth rose to $6.7 billion.”60

While the Forbes 400 richest Americans have gone from an average wealth of $200 million in 1982 to over $6 billion today, the average wealth of working Americans stayed flat, in the face of explosions in the costs of health, education, and housing.

Median household wealth in 2013, for example, was $81,000—about the same as in 1983 (the first year of household wealth surveys by the federal government). 61 But the median price of a house in 1983—around $74,000 (or $180,000 in today’s dollars 62)—has, according to the US Census Bureau, risen to over $220,000 today (and it’s massively higher in most cities).63 In 1983, the average person working a minimum wage job could afford a college education; now there’s over $1.7 trillion in student debt.

And in 2017, Trump and his GOP doubled down on their plan to move America from democracy to feudal oligarchy by cutting more than $1.5 trillion in taxes, most of the cuts directed to the uber-rich and giant monopolistic corporations. As a result, massive companies like Amazon, Chevron, General Motors, Delta, Halliburton, and IBM paid nothing in federal income taxes the next year.

In every sector of our economy, big businesses have been concentrating power since the 1980s, and America’s once-strong middle class has been crushed under their heels...

https://open.substack.com/pub/thomhartm ... paign=post

kalm wrote: ↑Sat May 18, 2024 6:28 am “This is what oligarchy looks like: 50 billionaires in America with a collective net worth of $1 trillion have spent over $600 million on the 2024 election. Democracy is supposed to be about one person, one vote, not billionaires buying elections. We must overturn Citizens United.”

- Bernie Sanders

https://x.com/sensanders/status/1791499 ... LLEdWL4H3w

Caribbean Hen wrote: ↑Sat May 18, 2024 6:47 am

kalm wrote: ↑Sat May 18, 2024 6:28 am “This is what oligarchy looks like: 50 billionaires in America with a collective net worth of $1 trillion have spent over $600 million on the 2024 election. Democracy is supposed to be about one person, one vote, not billionaires buying elections. We must overturn Citizens United.”

- Bernie Sanders

https://x.com/sensanders/status/1791499 ... LLEdWL4H3w

Bernie owns 3 houses

kalm wrote: ↑Sat May 18, 2024 7:13 am

Caribbean Hen wrote: ↑Sat May 18, 2024 6:47 am

Bernie owns 3 houses

Yep. So do I. 2 are vacation homes and we’re selling one. And our neighbor-friend owns 15 rental homes. I have a number of friends who own multiple properties. There are 25 million, millionaires in America. The democratic socialist Nordic countries also have millionaires and capitalists.

All child’s play compared to the true oligarchs/neo-feudalistic lords who spend billions on political campaigns.

Caribbean Hen wrote: ↑Sat May 18, 2024 8:39 am

kalm wrote: ↑Sat May 18, 2024 7:13 am

Yep. So do I. 2 are vacation homes and we’re selling one. And our neighbor-friend owns 15 rental homes. I have a number of friends who own multiple properties. There are 25 million, millionaires in America. The democratic socialist Nordic countries also have millionaires and capitalists.

All child’s play compared to the true oligarchs/neo-feudalistic lords who spend billions on political campaigns.

Why should I be impressed?

You’ve only done what any slightly above average American could’ve done if they just would’ve stayed out of college and got to work for a living …. A concept that our young people seem to have a hard time understanding.

walking through the world with some basic common sense can work wonders

kalm wrote: ↑Sat Jun 08, 2024 12:49 pm This is exactly what most campaign mega-donors (both sides) and the billionaire class are pushing for. Peter also Trump’s quite public aspiration, both personally and politically.

We don’t need government!

Caribbean Hen wrote: ↑Sat Jun 08, 2024 1:09 pm

kalm wrote: ↑Sat Jun 08, 2024 12:49 pm This is exactly what most campaign mega-donors (both sides) and the billionaire class are pushing for. Peter also Trump’s quite public aspiration, both personally and politically.

We don’t need government!

Yea unregulated Capitalism is so bad Cubans have been risking their lives for 60 years by paddling offshore far enough to get into the gulf stream with nothing but an inner tube so they can drift to Florida in hope of making landfall or being rescued at sea

Why? To escape the misery of socialist Cuba

Pwns wrote: ↑Sat Jun 08, 2024 5:05 pm We can either let corporate profits flow into our communities or let woke Oligarchs like Larry Fink and George Soros use it to help China build their war machine.