Comments on: American plutocracy http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: dinge61 http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-35179 Fri, 20 Jan 2012 01:49:25 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-35179 The plutocrats are still here because America isn’t sucked dry yet. The money is all going in one direction. Everyone says it’s the top 1%(3M+people),the true power lies with the 0.1% how fast is their piece of the pie growing?

]]>
By: TheDagger http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-33784 Tue, 06 Dec 2011 15:03:09 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-33784 The book “Richistan” by Robert Frank is an enjoyable read that explores this issue in depth. It is definitely worth reading.

]]>
By: Dafydd http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-33774 Tue, 06 Dec 2011 11:26:49 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-33774 Only in the US do you think that aristocracy is a new thing.

It was ever so.

American superpower status allows it to tax aggressively. The rise of China will put an end to that.

]]>
By: FifthDecade http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-33767 Tue, 06 Dec 2011 04:58:23 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-33767 While US citizens resident outside of the USA are still taxed by the US they will never reach the heights of statelessness possible to those of other Nationalities. Most of the non-US non-working 1% ensure they live nowhere for more than six months a year so they pay income tax nowhere, just that paid by their investments that cannot be reclaimed.

Hedge Fund managers threatening to move out of the US are not all making strong threats, because if they are US citizens they’d only gain an increase to $90,000 in their non-taxable income per year – and these folks earn millions.

]]>
By: gmant http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-33766 Tue, 06 Dec 2011 04:48:14 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-33766 It works until it does not..think 1913. Keynes has some wonderful quotes about how cosmopolitan, free market and global that era was. Then ww1 and by many metrics it takes until the mid 1990s to return to the same levels of globalization. Be careful how far you push the masses you myopic and ignorant plutocrats.

]]>
By: Kaloo008 http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-33765 Tue, 06 Dec 2011 01:58:43 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-33765 I’m of east Indian background, born and raised in Canada, studied and now practicing medicine in the US. The future is a cosmopolitan one, and we are indeed living in an era where national boundaries and borders will start to become irrelevant.

]]>
By: KenG_CA http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-33764 Mon, 05 Dec 2011 23:40:52 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-33764 Frwip, I think you’re right about the plutocrats being ignorant, but I would also add delusional. for the most part, they believe they they are all job creators, that when they extract more wealth from society, society is better off, and that the market makes everything work in the end.

Up until 2008, i used to think the plutocrats would certainly prevent a crisis from escalating out of control, because they wouldn’t want to kill the goose that lays their golden eggs. I’m not sure of that any more. I don’t think they are any different than the middle class lobsters who have been sitting in a pot of water with the heat cranked up. None of them are realizing they can get boiled to death.

]]>
By: Frwip http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-33759 Mon, 05 Dec 2011 21:29:49 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-33759 The best part in Freeland’s article comes at the end.

“The lesson of history is that, in the long run, super-elites have two ways to survive: by suppressing dissent or by sharing their wealth. It is obvious which of these would be the better outcome for America, and the world. Let us hope the plutocrats aren’t already too isolated to recognize this. Because, in the end, there can never be a place like Galt’s Gulch.”

Yep.

Alas, I’m afraid that plutocrats are not so much isolated but ignorant, ignorant of history, having lived through a fairly exceptional period of mostly peace for the past 65 years. People like Soros, who lived World War II in Eastern Europe, remember how ugly the convulsions of history can look like. But most plutocrats remember nothing of the like. They only know peace and a favorable order. And they’ll take that for granted. They always do, at most afraid for their personal safety, hiding in gated communities or foreign residence, as if it were the issue.

The real risk for them is the rise of nationalistic governments and the expropriation of “foreign” owners that would inevitably follow.

]]>
By: H2O2 http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-33758 Mon, 05 Dec 2011 20:32:43 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-33758 Grand Illusion was the first thing that came to my mind also, great movie.
www.PureLivingPeroxide.com

]]>
By: hansrudolf http://blogs.reuters.com/felix-salmon/2011/12/05/american-plutocracy/comment-page-1/#comment-33755 Mon, 05 Dec 2011 18:28:36 +0000 http://blogs.reuters.com/felix-salmon/?p=11372#comment-33755 “American plutocrats, almost uniquely, are tied to their home country in a way that other members of the global elite can barely imagine.” Yeah, they’re the greatest plutocrats on earth. Can’t be otherwise :-)

]]>