Stories
Slash Boxes
Comments

SoylentNews is people

The Second Gilded Age Is Here

posted by Fnord666 on Sunday October 29 2017, @08:01AM   Printer-friendly
from the goose-and-the-golden-egg dept.

Robotron writes:

Wealth inequality stands at its highest since the turn of the 20th century - the so-called 'Gilded Age' - as the proportion of capital held by the world's 1,542 dollar billionaires swells yet higher. The report, undertaken by Swiss banking giant UBS and UK accounting company PwC, discusses the roles technology and globalization play in the status quo, and appears two weeks after the IMF recommended that the rich should pay more tax to address the enormous disparity.

Original Submission

 
This discussion has been archived. No new comments can be posted.
The Second Gilded Age Is Here | Log In/Create an Account | Top | 156 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 0) by Anonymous Coward on Sunday October 29 2017, @11:09AM

    by Anonymous Coward on Sunday October 29 2017, @11:09AM (#588994)

    So how would you define "inheritance tax" ???

    Seriously, you either tax income or nothing at all. Inheritance tax can be dodged left and right fairly easily, especially in today's world. And you don't want dynasties? Too bad. At least we are not in the time of kings and queens, mostly. Boosting taxes to levels they were during 1970s would fix a lot of the problems.

    Meanwhile, "charitable" foundations, like those run by the Gates and the Clintons, need to be decoupled from the people who found them. Want to give away your wealth? That's great. Want to use that "charitable" foundation as a way to dodge taxes and hand over your wealth to your progeny? Not fine.

    Except that is not what either is doing. So I'm not sure what you are talking about.

    And Clintons are not exactly super rich anyway. Most of the money is from speaking engagements and book deals. Comparing that to Gates is a little laughable. And you should read Gates' plan for their foundation once they die - you know, they actually planned these things. The foundation is to spend all the money within few years of their passing. Gates specifically did not want a perpetual foundation like Nobel Foundation.