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View Diary: Wealth Condensation: Why the Rich Get Richer (172 comments)

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  •  Thanks for shedding light on a complex economic (7+ / 0-)

    puzzle. Let me extend your argument that taxation is government's means of income distribution. Because of the undue influence of the wealthy on Congress (another way they keep and extend their wealth), income distribution by taxation has broken down. If taxation is forestalled, economic pressure builds up to an unsustainable degree. If this pressure cannot be reduced by legislative means, is the result revolution in one form or another - hopefully democratic and bloodless, but not necessarily so?

    Was Karl Marx right after all?

    •  Other Way Around. Because Gov't Ended Protective (10+ / 0-)

      individual taxation, wealth accumulated and the rich bought off government to do all the rest. Almost all the degregulation and growth of the rich started with the elimination of protective taxation under Reagan.

      Through the 60's and maybe mid 70's, most of the wealth of the nation was held by the common people upper middle class, and the millionaires needed to throw in to syndicates to afford a yacht to race for the America's Cup.

      We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

      by Gooserock on Sat Sep 24, 2011 at 01:26:38 PM PDT

      [ Parent ]

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