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wmw999

Those darn rich people

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Maybe my "articles you might like" mindreader was looking at dz.com... Either way, I just read this article on dynastic wealth, and just how hard it is to avoid setting up an overclass and an underclass.

The Great Inheritors (from Propublica)

Yes, Propublica is a liberal source, so consider that. But there is some point there, too. The great equalizer in our extended era was probably the great depression -- there were fortunes lost. Not the truly huge (although some very significant ones -- look up Charles Schwab, the steel tycoon), but certainly plenty of rich people had their circumstances change.

Since then, the 50's and early 60's did a decent job of not creating too many new empires. But the combination of trickle-down and the tech boom has really skewed things.

I'm relatively rich; I have enough money to pretty much do anything I want to, and donate a decent amount of money. And I'm not in the same universe with even the really rich, never mind the oligarchs who can stomp on people, and who think that all of their money was earned by their superior talents, and that the luck of having had the idea that took root at the right time (were Apple and Microsoft really the absolute best technically, or just in the right place at the right time?).

It's not whether they deserve to be rich. It's whether their luck means they effectively get to control that much of America or the world.

Wendy P.

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1 hour ago, BIGUN said:

Unfortunately "our team" has a couple of fifth columnists in its senatorial ranks.  DINOs.

All the while the Senate has anti-democratic demographics and anti-democratic rules nothing will change.

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But those DINOs are just as reasonable to the Rs as the so-called RINOs (like McCain) are to us. They're the check, especially now that opposing parties see stopping the opponents as more of a goal than actually helping the country. Pisses me off, too, but it's probably necessary.

Wendy P.

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1 minute ago, wmw999 said:

But those DINOs are just as reasonable to the Rs as the so-called RINOs (like McCain) are to us. They're the check, especially now that opposing parties see stopping the opponents as more of a goal than actually helping the country. Pisses me off, too, but it's probably necessary.

Wendy P.

I am sure you are aware of the great imbalance in votes that resulted in a 50/50 split in the Senate.  

And the Electoral College is just a joke.

Madison fucked up big time.

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2 hours ago, kallend said:

I am sure you are aware of the great imbalance in votes that resulted in a 50/50 split in the Senate.  

And the Electoral College is just a joke.

Madison fucked up big time.

Yep, and that's why we are screwed. So in the face of things can we now quit pretending we have a reparable democracy?

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Y'all forgot the USSC in the equation of blame for the substance of this thread.Then don't forget it's the "teams" that appoint those judges. Whose pens have absolute finality in the absence of congressional action.

That argument kinda went in a circle....I guess its congress after all.

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15 hours ago, wmw999 said:

Pisses me off,

This is the kinda shit that pisses me off - 

Quote

 

What he didn’t mention is that his heavenly plans are being underwritten by Texas taxpayers. Under a little-known statute that county appraisers say is too vague and permissive, the $7 million mansion owned by Copeland’s Eagle Mountain International Church is considered a parsonage — a clergy residence — qualifying for a 100 percent tax break. 

That means Copeland’s church gets a pass on what would otherwise be an annual property tax bill exceeding $150,000 — money that other local taxpayers must backfill to cover the cost of schools, police and firefighters.

https://www.houstonchronicle.com/news/investigations/unfair-burden/article/kenneth-copeland-wealth-pastor-tax-free-mansion-16662283.php

 

 

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We’re waiting at the hotel for our late-night flight; flew in from Hartford. We thought we were all going to be in the ballroom area with 100 of our newest friends, but the company sprung for a daytime hotel room, which is nice. An hour of yoga, a nice shower in the afternoon — we might even be ready to sleep on the plane. 
Wendy P. 

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On 12/18/2021 at 10:55 AM, wmw999 said:

Maybe my "articles you might like" mindreader was looking at dz.com... Either way, I just read this article on dynastic wealth, and just how hard it is to avoid setting up an overclass and an underclass.

The Great Inheritors (from Propublica)

Yes, Propublica is a liberal source, so consider that. But there is some point there, too. The great equalizer in our extended era was probably the great depression -- there were fortunes lost. Not the truly huge (although some very significant ones -- look up Charles Schwab, the steel tycoon), but certainly plenty of rich people had their circumstances change.

Since then, the 50's and early 60's did a decent job of not creating too many new empires. But the combination of trickle-down and the tech boom has really skewed things.

I'm relatively rich; I have enough money to pretty much do anything I want to, and donate a decent amount of money. And I'm not in the same universe with even the really rich, never mind the oligarchs who can stomp on people, and who think that all of their money was earned by their superior talents, and that the luck of having had the idea that took root at the right time (were Apple and Microsoft really the absolute best technically, or just in the right place at the right time?).

It's not whether they deserve to be rich. It's whether their luck means they effectively get to control that much of America or the world.

Wendy P.

70% of inherited wealth is lost in the first generation, 90% in the generation after that.  

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2 hours ago, brenthutch said:

70% of inherited wealth is lost in the first generation, 90% in the generation after that.  

Other than "news" articles claiming this, do you have any evidence this is true?

 

Supposedly it is based on research published by the Williams Group, which is a company that coaches families through successful wealth transfers.

Edited by SkyDekker

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25 minutes ago, SkyDekker said:

Other than "news" articles claiming this, do you have any evidence this is true?

 

Supposedly it is based on research published by the Williams Group, which is a company that coaches families through successful wealth transfers.

https://www.yahoo.com/now/5-huge-lies-generational-wealth-181719865.html.

It’s worth noting the emotion responsible for antipathy towards the wealthy is envy.  Not a good look.
 

 

Edited by brenthutch

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2 hours ago, brenthutch said:

If you have evidence to the contrary I would love to see it.

Burden of proof is on the one who makes the claim.

Also, you can't prove a negative, but it's already clear you didn't remotely get to logic class because of failing so many levels below it.

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On 12/21/2021 at 3:43 PM, SkyDekker said:

Other than "news" articles claiming this, do you have any evidence this is true?

 

Supposedly it is based on research published by the Williams Group, which is a company that coaches families through successful wealth transfers.

Are you suggesting that the source might not have the purest of motives?

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