Ebook Wealth and Our Commonwealth Why America Should Tax Accumulated Fortunes

Read Wealth and Our Commonwealth Why America Should Tax Accumulated Fortunes

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Book Details :
Published on: 2016-02-16
Released on: 2016-02-16
Original language:

The ‘Man Bites Dog’ story of over 1,000 high net-worth individuals who rose up to protest the repeal of the estate tax made headlines everywhere last year. Central to the organization of what Newsweek tagged the ‘billionaire backlash’ were two visionaries: Bill Gates, Sr., cochair of the Bill and Melinda Gates Foundation, the largest foundation on earth, and Chuck Collins, cofounder of United for a Fair Economy and Responsible Wealth, and the great-grandson of meat packer Oscar Mayer who gave away his substantial inheritance at the age of twenty-six.Gates and Collins argue that individual wealth is a product not only of hard work and smart choices but of the society that provides the fertile soil for success. They don‘t subscribe to the ‘Great Man’ theory of wealth creation but contend that society‘s investments, such as economic development, education, health care, and property rights protection, all contribute to any individual‘s good fortune. With the repeal proposed by the Bush administration, we might be facing the future that Teddy Roosevelt feared—where huge fortunes amassed and untaxed would evolve into a dangerous and permanent aristocracy. Repeal would drop federal revenues $294 billion in the first 10 years; 27 some $750 billion would be lost in the second decade, not to mention that the U.S. Treasury estimates that charitable contributions would drop by $6 billion a year.But what about all those modest families that would lose the farm Gates and Collins expose the fallacy of this argument, pointing out that this is largely a myth and that the very same lobbies and politicians who are crying ‘cows’ have opposed other legislation that would actually have helped small farmers. Weaving in personal narratives, history, and plenty of solid economic sense, Gates and Collins make a sound and compelling case for tax reform, not repeal. CO$AUTHORS:! - ips-dc.org 5 Introduction Philanthropy!is!a!noble!pursuit:!an!expression!of!our!collective!generosity!and!human! solidarity.!And!the!charitable!nonprofits!we!support!as!a!nation ... U.S. income inequality on rise for decades is now ... President Obama took on a topic yesterday that most Americans dont like to talk about much: inequality. There are a lot of ways to measure economic inequality (and ... Income Inequality or Lost Opportunity? What's Threatening ... Introduction. Part I: The Promise of America. Part II: The Misguided Focus on Income Inequality Part III: The Real Threats to The American Dream PLUTOCRACY CARTEL - GLOBAL ELITE RULING ELITE GLOBAL ... the plutocracy cartel an entrenched global elite of vast wealth has spread its tentacles over the earth wielding extraordinary power over world affairs On the Commonwealth - oll.libertyfund.org Edition used: Marcus Tullius Cicero The Political Works of Marcus Tullius Cicero: Comprising his Treatise on the Commonwealth; and his Treatise on the Laws. is Director of the Racial Wealth Divide Initiative at CFED is Director of the Racial Wealth Divide Initiative at CFED where he works to build on CFEDs outreach and partnership with communities of color as Economic inequality - Wikipedia Economic inequality is the difference found in various measures of economic well-being among individuals in a group among groups in a population or among countries. Estate tax in the United States - Wikipedia The estate tax in the United States is a tax on the transfer of the estate of a deceased person. The tax applies to property that is transferred via a will or ... GLOBAL KLEPTOCRACY - GLOBAL ELITE RULING ELITE GLOBAL ... GLOBAL KLEPTOCRACY Self-serving leaders throughout the world increasingly assume power with the goal of becoming rich at the expense of the majority of their ... INCONVENIENT TRUTHS INCONVENIENT TRUTHS "We Americans are the ultimate innocents. We are forever desperate to believe that this time the government is telling us the truth."
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