[FRIAM] Oligopoly? or oligarchy?

[steve smith]

Glen sed: '*Oligopoly? or oligarchy?"*

I appreciate the distinction implied by opoly vs archy in this case 
(market-power vs political power?).

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?

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?

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.

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.

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).

Carry On,

  - Steve

On 10/21/24 4:03 PM, glen wrote:
> 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 
>
>
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