The Forbes 400 vs. Everybody Else-Michael Moore link
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The Forbes 400 vs. Everybody Else-Michael Moore link
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An interesting comparison to the CNN article. Roughly same dollar amounts around $1.3 trillion.
An interesting comparison to the CNN article. Roughly same dollar amounts around $1.3 trillion.
PDT- Posts : 169
Join date : 2011-10-19
Age : 62
Location : PA-02
Re: The Forbes 400 vs. Everybody Else-Michael Moore link
This is a link to the Wolff paper cited in the above article.
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The issues are actually a bit broader though and include:
a) foreign investment
b) assets of the top 1% that are parked offshore in places like the Cayman
Islands in numbered accounts
c) tightly controlled foundations that are playthings of the 1%
d) the rest of the 1% outside the Forbes 400.
Prof. Ed Wolff is _the_ premier economist on distribution of wealth in the USA.
My read on the Wolff paper:
the top 1% have gotten extraordinary results on investment the last 30 years. I think this is what classical economists call a return to a monopoly of scale. The reason why that is important, it makes a case for direct taxation of those assets the very wealthy cannot pass on to consumers.
[You must be registered and logged in to see this link.]
The issues are actually a bit broader though and include:
a) foreign investment
b) assets of the top 1% that are parked offshore in places like the Cayman
Islands in numbered accounts
c) tightly controlled foundations that are playthings of the 1%
d) the rest of the 1% outside the Forbes 400.
Prof. Ed Wolff is _the_ premier economist on distribution of wealth in the USA.
My read on the Wolff paper:
the top 1% have gotten extraordinary results on investment the last 30 years. I think this is what classical economists call a return to a monopoly of scale. The reason why that is important, it makes a case for direct taxation of those assets the very wealthy cannot pass on to consumers.
randallburns- Posts : 398
Join date : 2011-10-18
Age : 65
Location : WA-03
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