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View Diary: Parasites and Plutocrats (3 comments)

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  •  Yes, the only good thing is that it's all virtual. (1+ / 0-)
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    And quantifiable. Because money can be counted, we can know the extent of the depredation and degradation of our assets and resources.

    Consider, for example, the proposed valuation of Detroit's art treasures, which is causing much anxiety because of the prospect that the collection might be sold off and dispersed to the four corners of the earth. However, a valuation or quantification in terms of dollars turns the art collection into an asset, a valuable asset, whose care and preservation the citizen owners of Detroit might well determine has not been properly supported.
    Comparing asset value and costs might well lead the citizens to decide that it makes little sense to pay the lenders of dollars a premium on bonds and instead let the "investor" class contribute dollars as taxes to support the art. Otherwise, public ownership of art just turns into a holding category into which accumulators make donations to avoid paying their taxes and then, later, after the value has increased, they buy them back.
    It's the same pattern that's caught on in the environmentally sensitive land preservation scheme. Indeed, I've had the offer to contribute land into a local "land trust" rejected because there was no associated tax credit to be garnered. Many a development proposal is designed to generate an artificial value that can then be used to reduce regular tax obligations.

    Why are tax cuts so highly prized?  I'm beginning to suspect they're like hair cuts, a good thing because a sign of some social status that's valued. Getting one's hair cut is evidence of compliance, of being an eager participant in the culture of obedience.
    For how many people is getting a hair cut a quasi religious experience?
    Is it a co-incidence that the financiers are all well-coifed?

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