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5 comments

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1

That has just triggered a thought.
The ultra-rich should face ultra-high taxation rates UNLESS their surplus wealth is re-invested in American based companies, manufacturing goods that are at least 75% made in America, not merely made elsewhere and then given a token makeover.
It would solve trade imbalance problems with China, etc. and make the ultra rich contribute far more heavily to raising up the people who made them rich - with the enticing prospect of becoming even richer in the long term.
How's that for an election policy?

Petter Level 8 June 18, 2018
2

And if inflation were factored in this would wipe out middle-class gains and put the poorest in the negative.

3

It's a horrifying inditement of capitalism as practised in America.
There's also an unconsidered spin-off from this. Manufacturers create luxury goods, with a truly excessive profit margin, knowing that the ultra rich will vie with each other to have the latest fad, and this has a trickle down effect to the next lower level of society, and creates a thriving second-hand market for their used products. (Think Apple, luxury cars and exotic brand names, most of which are produced in far Eastern countries like China with atrociously low wages.) Meanwhile serviceable, reliable products are no longer massively produced in the USA, because they are not "high margin" products. Previously, such products were still worth making for reasons of sheer sales volume (1 million items at 1 dollar profit each puts 1 million dollars in the bank)

Petter Level 8 June 18, 2018

One of the incompatible historys in the USA is democracy and capitalism go together is the greatest myth under which, the average American is seduced by the top 1%..

4

It is disgusting how the rich have gotten so rich at the expense of the poor and middle class.

4

I can feel and see this driving down the road. BMW, Mercedes, Lexus, Audi, and Volvo are driven around like a proud sign to the masses 'we are better and deserve better' while the majority drive 10 year-old vehicles while hoping they don't have to buy new tires any time soon.

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