The GOP Presidential hopeful from Bain Capital has become a walking, talking object lesson on how plutocracy works — and why we desperately need to end it.
The rich don’t much like paying taxes when tax rates run high. They don’t much like paying taxes when tax rates run low either.
Today’s super rich can’t turn tin into gold. But they can get Uncle Sam to loan them free money. At the expense, of course, of America’s bottom 99 percent.
Still another global financial analysis firm has just tallied how much net worth is sloshing around in the pockets of the world’s most spectacularly wealthy. So when will the time finally come to stop the counting — and start the taxing?
Exactly a quarter-century ago, America’s punditocracy proclaimed victory in the struggle against tax complexity and unfairness. The rich applauded right along. We should have been suspicious.
One luxury automaker is betting big that America’s affluent feel no responsibility to the greater society crumbling all around them.
Can democracy, one top political scientist asked last week, ‘function effectively in a society marked by vast economic inequality’? The fate of the modest new White House bid to tax our rich may tell the tale.
The Census won’t count it. The IRS won’t tax it, at anywhere near full freight. What is it? It’s enough, all by itself, to keep grand fortunes constantly soaring.
Investor Warren Buffett has made an insightful case for higher taxes on America’s rich. The reaction to that case, from our wealthy’s most ardent defenders, offers insights, too — on our plutocracy.
One of the three ‘serious’ candidates for the 2012 Republican White House bid says the tax cuts for the rich he’s proposing will expand America’s ‘entrepreneurial’ class. What does history say? <