"What we have in the world today is not capitalism. Rather, it more closely resembles 'feudalism' than anything else."
"In the USA, for two decades after World War II, until 1964, the marginal tax rate on the highest bracket hovered around 91 percent.
"For a married couple in 1960, that applied to income earned above $400,000, the equivalent of approximately $3 million today.
"Yet this was the period in which the United States economy boomed most dramatically, when college students could reliably expect both a new car and a home mortgage after graduation.
"The annual growth rate in GDP reached levels as high as 7 and 8 percent."
Alexandria Ocasio-Cortez's 70% Tax Proposal Is a Great Start
The world's eight richest billionaires control the same wealth between them as the poorest half of the world's population.
World's eight richest people have same wealth as the poorest 50%
Jeff Bezos $112 billion
Bill Gates $90 billion
Warren Buffett $84 billion
Bernard Arnault $72 billion France LVMH
Mark Zuckerberg $71 billion
Amancio Ortega $70 billion Spain Inditex, Zara
Carlos Slim $67.1 billion Mexico América Móvil, Grupo Carso
Charles Koch $60 billion
David Koch $60 billion
THE SUPER-RICH ARE THE ENEMY .
"In the USA, for two decades after World War II, until 1964, the marginal tax rate on the highest bracket hovered around 91 percent.
"For a married couple in 1960, that applied to income earned above $400,000, the equivalent of approximately $3 million today.
"Yet this was the period in which the United States economy boomed most dramatically, when college students could reliably expect both a new car and a home mortgage after graduation.
"The annual growth rate in GDP reached levels as high as 7 and 8 percent."
Alexandria Ocasio-Cortez's 70% Tax Proposal Is a Great Start
The world's eight richest billionaires control the same wealth between them as the poorest half of the world's population.
World's eight richest people have same wealth as the poorest 50%
Jeff Bezos $112 billion
Bill Gates $90 billion
Warren Buffett $84 billion
Bernard Arnault $72 billion France LVMH
Mark Zuckerberg $71 billion
Amancio Ortega $70 billion Spain Inditex, Zara
Carlos Slim $67.1 billion Mexico América Móvil, Grupo Carso
Charles Koch $60 billion
David Koch $60 billion
The wealth of more than 2,200 billionaires across the globe increased by $900bn in 2018 - or $2.5bn a day.
The 12% increase in the wealth of the very richest contrasts with a fall of 11% in the wealth of the poorest half of the world’s population.
World's richest people own as much as poorest 50%.
Note the position of France. Only in a few nations - such as Switzerland and France - has there been a long-term decline in income inequality.
The poorest 10% of Britons are paying a higher effective tax rate than the richest 10% (49% compared with 34%) once taxes on consumption such as VAT are taken into account.
Many governments are making inequality worse by failing to invest enough in public services.
World's richest people own as much as poorest 50%.
Note the position of France. Only in a few nations - such as Switzerland and France - has there been a long-term decline in income inequality.
The poorest 10% of Britons are paying a higher effective tax rate than the richest 10% (49% compared with 34%) once taxes on consumption such as VAT are taken into account.
Many governments are making inequality worse by failing to invest enough in public services.
About 10,000 people per day die for lack of healthcare.
There were 262 million children not in school, often because their parents were unable to afford the fees, uniforms or textbooks.
Rich landowners, such as the Duke of Buccleuch, receive large subsidies. "THE Buccleuch family, owners of more than 240,000 acres of private land, use a shadowy Cayman Islands firm to control and sell land." DUKE OF BUCCLEUCH
Governments need to do more to fund high-quality, universal public services through tackling tax dodging and ensuring fairer taxation, including on corporations and the richest individuals’ wealth, which is often undertaxed.
A global wealth tax has been called for by the French economist Thomas Piketty, who has said action is needed to arrest the trend in inequality.
World Bank data shows the rate of poverty reduction has halved since 2013.
In sub-Saharan Africa, extreme poverty is on the increase.
...
MIND CONTROLLED TO VOTE FOR THE RICH ELITE .
WHAT WE HAVE IS NOT CAPITALISM .
Aangirfan: SOCIALISM IS GOOD
aangirfan: RICH AND POOR
Rich landowners, such as the Duke of Buccleuch, receive large subsidies. "THE Buccleuch family, owners of more than 240,000 acres of private land, use a shadowy Cayman Islands firm to control and sell land." DUKE OF BUCCLEUCH
Governments need to do more to fund high-quality, universal public services through tackling tax dodging and ensuring fairer taxation, including on corporations and the richest individuals’ wealth, which is often undertaxed.
A global wealth tax has been called for by the French economist Thomas Piketty, who has said action is needed to arrest the trend in inequality.
World Bank data shows the rate of poverty reduction has halved since 2013.
In sub-Saharan Africa, extreme poverty is on the increase.
...
MIND CONTROLLED TO VOTE FOR THE RICH ELITE .
WHAT WE HAVE IS NOT CAPITALISM .
Aangirfan: SOCIALISM IS GOOD
aangirfan: RICH AND POOR
~~
https://www.globalresearch.ca/ottawas-support-of-us-led-war-opposition-to-bds-more-admissions-and-canadas-national-disgrace/5666085
ReplyDeleteIt is not wrong to tax the rich but there is a trap built into this idea
ReplyDeleteWhich is why the Powers That Be are promoting and praising 'socialist' authors like Thomas Piketty
The trap is that to successfully enact a wealth tax - and prevent the wealthy from re-locating their income and assets in the Caymans, in Luxembourg, in Switzerland, in USA Nevada, or many other places -
You need a global government mechanism
And that is the trap
'Taxing the rich' will likely be the main sales slogan by which the final, totalitarian, global New World Order would be imposed, the world cheering on its own enslavement
The rich themselves sometimes grin and openly agree with 'tax the rich' - USA at times richest man Warren Buffett has said things like this
Oligarchs will gladly pay, because in exchange for a giant taxing of the rich, giving up 25% or similar, which adds up to many trillions ... the oligarchs will get global control
And then they can get all their riches back once global feudalism is imposed, as all exit avenues will be cut off or near-impossible, thanks to modern surveillance technology ... No one buying or selling without the 'numbers of the beast'
One can see it as an update of Soviet Communism ... where minimum incomes were there indeed, but a small elite could have anything they wanted, because they had control 'on behalf of the people'
When they introduce their 'tax the rich globally' plan, supported by Pope Francis, the United Nations etc ... maybe throwing as well in the 'abolition' of the 'nuclear weapons' that are claimed to exist -
Anyone opposing it can be denounced as a 'supremacist and racist trying to deny the world's poor'
In theory we can end the global tax havens by treaty, without destroying local sovereign independence and freedom ... but that is likely not what the Powers That Be will allow
With the present economic system, the gap between poor and rich is obviously widening.
ReplyDeleteBut the actual system proved overwhelmingly positive for China and Russia. These countries are much better off today, then under the communist/socialist system. Understand Russia is basically self sufficient for food, China can easily pay for food imports. The people of these countries clearly benefited from a market based system.
Why is the economic system in the Western hemisphere evolving in a negative direction?
The forces of the market seem to be neutralized. Banks did in the past invest and speculate in fraudulent dot.com and sub-prime schemes. When the frauds became evident, the political establishments, which were in cohorts with the banksters, bailed them out on the back of the tax-payer. If fraudulent banks would go bankrupt and their bosses would held accountable for their crimes, the market system would work out much better for the benefit of all.
Here in Switzerland, the evil forces can push in easily companies like Uber, AirBnB, Monsanto with Roundup and allow Goldman Sachs under the brand of ISS to buy up large swaths of facility services against all trust legislation and even offer mortgages when local banks are restricted. Nobody dares to say a word, because it would be considered “hate speech!”
Following documentary is showing, how and who (the religious background of the actors is not revealed) is orchestrating the large financial schemes.
http://www.pbs.org/video/frontline-the-warning/
On the other hand, we have a Richard Wolff and a Naomi Klein, who are complaining very badly about the negative effects of the market based system and try to push the agenda for a socialist based (NWO) regime. Understandably, they forget to mention the main culprits of the ongoing schemes.
Caveman
Excellent article!
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