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View Diary: What's Happenin'? 4.26.13 (74 comments)

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  •  I've Said This Here A Lot (7+ / 0-)

    my parents are super rich. Myself, I am pushing the 1%. Do I want to be taxed at 90%. Nope. But I don't know anybody saying that. If you want to take another say 5% from me so our society can run I don't mind.

    Heck my parents are Republicans and they are open they'd be willing to pay a little more.

    I want you to have health care. I don't want bridges falling down. I want you kid to have the best education possible. If I have to pay a little more for that to happen, then so be it.

    When opportunity calls pick up the phone and give it directions to your house.

    by webranding on Fri Apr 26, 2013 at 06:26:41 AM PDT

    [ Parent ]

    •  We need a Solon for our age (8+ / 0-)
      In the 6th century B.C. Athenians gave extraordinary powers to one man to make needed reforms that would deliver Athens from economic stagnation and the gradual enslavement of the lower classes. That man, Solon, is believed to have forced the forgiveness of debts, forbade the pledging of oneself or one's family members as security for loans, and freed all those Athenians who had been made slaves through such pledges. He also repealed the harsh code instituted by Draco (from which we get the term Draconian) and replaced it with more humane laws. After decreeing that his reforms remain in place for 10 years, Solon went abroad for a years-long vacation--probably so that no one could try to change his mind about what he had done.

      Today, in the face of circumstances that Solon would recognize, the case for widespread debt forgiveness has only recently been made. Stephen Roach, a longtime Wall Street economist, has called for lenders to bear considerable pain for the questionable loans they made during the previous boom. The trouble, as he points out, is that such forgiveness would require federal leadership which means that members of the U.S. Congress would have to penalize one of their most lucrative sources of campaign donations--the financial industry. The Athenian assembly had similar problems which is why they chose to give Solon autocratic powers.

      ...but who can ya trust?

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