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Old 11th October 2019, 09:22 AM   #215
blutoski
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Originally Posted by Bob001 View Post
Another aspect of wealth concentration:

https://www.theatlantic.com/ideas/ar...naires/599587/

It's no surprise that the rich look out for themselves. But what happens to the rest of us?
Recent datapoint... US taxation does not appear to be progressive at this time: [NYT: How to Tax Our Way Back to Justice]

Article contains a visual chart that summarizes the problem.

And actually, it's an underestimate, because the superwealthy have different structures for ownership and income that translate into better value from an otherwise identical income. Just as an example, my friend who is very well off as a construction company owner has practically no 'income'. Yet, he has a 'company sailboat' and a 'company condo' at his disposal, all expensed and so the revenues used to buy them were not taxable, since they're allegedly company assets used for business. Wink-wink.
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