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<p>Glen sed: '<b>Oligopoly? or oligarchy?"</b></p>
<p>I appreciate the distinction implied by opoly vs archy in this
case (market-power vs political power?).</p>
<p>I hope smarter people than I are thinking deep and hard and broad
about this. My knee-jerk suggests that one or both of
"consumption tax" with appropriate exemptions like basic
foodstuffs and basic rent/mortage and basic utilities should be
"subsidized" by the rest of us who carry it beyond basics. Maybe
"Luxury Tax" or "Sin Tax" on megayachts or private jets or
hypersports cars? <br>
</p>
<p>And/or a power exemption/rebate for low income (Is Federal
Poverty level assumed to be about $16k income today? I sure got
a boost while raising a young family in college, working for
myself, paying full SocSec (14.5%) when my meager
head-of-household poverty-level takehome yielded me an at the time
"earned income credit". It meant I didn't have to cough up money
I didn't have at tax time (or not very much) and I felt properly
motivated me to continue to HAVE earned income while many of my
peers were riding their parents wealth or some needs-based support
(not dissing, just glad I was able to not need it). Today it
tastes a bit like a guaranteed basic income... maybe we could ease
into it with a diminishing "matching" income... first $8k income
matches 1:1 to yield the (incredibly measely $16k poverty) with
the next $8k yielding additional 1:2 to net a (still measlyish)
$24k, capping at whatever we consider a solid
bottom-of-middle-class level... maybe netting out around $40-$50k
which isn't huge (for an individual) but kinda guarantees anyone
playing in the game can probably have a place to live, buy
groceries, own a decent vehicle and mobile device, laptop, maybe
eat out now and then?</p>
<p>I don't know. The devil is in fact details all the way down.
I'm comfortable enough (as a 4 year degreed mostly retired
professional who effectively has managed head-of-household
financial roles on what netted out to be my single income for
various reasons all my career) to feel like I could share some of
that comfort with folks who might well not come close to it. My
$10/week cash-back tithe from Trader Joes I diligently hand out to
2-5 panhandlers and my ?generous? pay and hours to the few folks I
engage in hourly (order $25/hr) labor help of different kinds and
my generous gifting or discounting to folks who might buy my
various no-longer-loved-enough vehicles is a gesture in that
direction, but if I knew higher taxes ON ME helped all those I
recognize as less fortunate (at least a little) I'd grumble and
give. <br>
</p>
<p>The fact/story of the 1% of the 1% being so gov't-subsidized
oligopolic makes it too easy to point at them and say "if they did
more I wouldn't have to" and if all the facts are as presented,
such would seem to be the case, in the meantime I will just keep
enabling the street people to eke out another day and help those I
know how to help and slap my own hand when I try to find new ways
to shave tax liabilities and put a sock in it when I find myself
complaining about *my* taxes/finances and vote (nearly straight
ticket) Democrat in spite of being a lifelong "Undeclared" voter
with (embarrassing Libertarian, Green, Independent and even
Conservative) votes in the past to the contrary.</p>
<p>The beauty of a possible Harris/Waltz win in November for me is
it might be " a good start" toward pounding on things like what is
implied in the article as well as the chimeric Donkey-Elephant in
the room known as the Duopoly party? I felt that way in 08 but
only got a taste of it (which DJT2016 fouled for me).<br>
</p>
<p>Carry On,</p>
<p> - Steve<br>
</p>
<div class="moz-cite-prefix">On 10/21/24 4:03 PM, glen wrote:<br>
</div>
<blockquote type="cite"
cite="mid:b24f28d0-f92f-4632-bb27-2c6f81b02e5a@gmail.com">The
Secret IRS Files: Trove of Never-Before-Seen Records Reveal How
the Wealthiest Avoid Income Tax
<br>
<a class="moz-txt-link-freetext" href="https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax">https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax</a>
<br>
<br>
</blockquote>
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