Drudge Retort: The Other Side of the News
Wednesday, June 13, 2018

America's richest 1% possess nearly 40% of the nation's wealth. That 40% of the wealth is twice the total wealth held by the bottom 90% of the American public, 294,000,000 people. Half of American households cannot afford basics like food, housing, and healthcare. Some 41 million Americans live in poverty. Of these, over 5 million reportedly live on $4 a day or less, as long as they continue living. Everyone who has ever played Monopoly should understand exactly what is going on. Monopoly reduces what happens over a generation to millions of people in real life to the same result in a day or two for four or five people. It is a model of unregulated Capitalism. It is where Trump is driving the country.

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As of May 2018, the growing crop of billionaires included corporate owners with unprecedented levels of wealth like Jeff Bezos ($112 billion), Bill Gates ($90 billion), and Warren Buffet ($84 billion). Some families have also grown fantastically rich, including the rightwing Koch brothers ($120 billion) and the Walton family, owners of Walmart (nearly $175 billion).

The fix is so simple. Tax the hell out of them.

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The solution to the issue is not to tax great philanthropists like Gates or Buffet. While the vast, vast majority of the fortunes that they amassed will never be taxed by the Federal government as they will move into family run charities, we, as a country cannot complain because they know better what to do with their money than the government. However, this does not apply to the deplorables in the fly over states that need to pay more in personal income taxes because, as we know, they didn't make that money on their own. They only made it because of the US government and thus they need to pay for that ability. It may seen hypocritical, but the same thing that applies to the middle class rednecks in flyover country also applies to the Kochs and Walmart heirs. Their money needs to be taxed as much as possible unlike Gates and Buffet. I reject the notion that the middle class and lower rich should be exempted from paying estate taxes unlike Gates and Buffet. They either need to die broke, hire better estate lawyers and accountants, or pay the US government the taxes they owe. As a lifelong Democrat, I know that the only way to make the US truly prosper is to tax everyone but those in the 0.01% that overwhelming donate to Democratic causes. Now that the GOP is in power, I also believe that Wall Street needs to be taxed and regulated much more than they are currently. However, my opinion on that may change depending on if we can flip Congress in the midterms.

#1 | Posted by HarrisonBounel at 2018-06-13 07:10 AM | Reply | Funny: 1

Who benefits?

The 1% get 99% of the gains.

The rest get the trickle.

#2 | Posted by 726 at 2018-06-13 08:44 AM | Reply | Funny: 1

This is a stupid article. Anyone not prospering in this economy isn't trying.

and it's funny how things are presented.

America's richest 1% do not possess 40% of the "nations" wealth. They possess their own wealth. This is a by product of liberals seeing all money as belonging to the collective.

That's not how America is set up. We have private property. Land, houses and money are private property.

It's like you are angry at people's success. It's like you are angry they are saving money.

I think everyone should be taxed. The same percentage of income. Period. It's the only fair way.

Articles like this are going to ensure the GOP stays in power for many years to come.

#3 | Posted by boaz at 2018-06-13 08:46 AM | Reply | Newsworthy 1

Boaz,
If a masked gunman were to take your possessions, you would squeal like stuck pig.

When the 1% ers steals your country, and rewrites the rules of law through bribes to the Republican Party, who will quid quo pro them to a hard gloss finish, you praise and admire them.

If the thief is wealthy enough, it is inconceivable to you that you have been robbed.

Trump is using his position to steal from you.

Trump University was theft through fraudulent deception. It was determined by a court of law. You have never mentioned that this type of theft on Trump's part bothers you in the slightest.

Why would that be?

#4 | Posted by oldwhiskeysour at 2018-06-13 09:53 AM | Reply

The solution to the issue is not to tax great philanthropists like Gates or Buffet. While the vast, vast majority of the fortunes that they amassed will never be taxed by the Federal government as they will move into family run charities, we, as a country cannot complain because they know better what to do with their money than the government. However, this does not apply to the deplorables in the fly over states that need to pay more in personal income taxes because, as we know, they didn't make that money on their own. They only made it because of the US government and thus they need to pay for that ability. It may seen hypocritical, but the same thing that applies to the middle class rednecks in flyover country also applies to the Kochs and Walmart heirs. Their money needs to be taxed as much as possible unlike Gates and Buffet. I reject the notion that the middle class and lower rich should be exempted from paying estate taxes unlike Gates and Buffet. They either need to die broke, hire better estate lawyers and accountants, or pay the US government the taxes they owe. As a lifelong Democrat, I know that the only way to make the US truly prosper is to tax everyone but those in the 0.01% that overwhelming donate to Democratic causes. Now that the GOP is in power, I also believe that Wall Street needs to be taxed and regulated much more than they are currently. However, my opinion on that may change depending on if we can flip Congress in the midterms.
#1 | POSTED BY HARRISONBOUNEL AT 2018-06-13 07:10 AM | FLAG: | FUNNY: 1

Taxing these parasite is a simple manner of extracting any economic fairness.

Our nation is falling apart because of the CEO hording, military siphoning, unfettered lobbying and outright criminal political theft which all equates to this miserly distribution of wealth we currently see performed by a complicit group of sociopath humans.

Food is toxic, water is toxic, the sea is being poisoned, the air is being poisoned - sociopaths do not care, cannot care. Those fundamental elements have direct ties to wealth management, and undoing all regulations and protections to the people and the planet.

Nobody should ever be able to hold public office that has accumulated more than... say, one million.

We require sweeping changes, not pandering to anyone tied into global powers.

#5 | Posted by redlightrobot at 2018-06-14 02:36 PM | Reply

Nobody should ever be able to hold public office that has accumulated more than... say, one million.

Lets add to that anyone that is gay, on welfare and is pro abortion, mkay?

#6 | Posted by boaz at 2018-06-14 04:32 PM | Reply | Funny: 1

"Lets add to that anyone that is gay"

That's going to rule out about half the men in the GOP.

"and is pro abortion"

That's going to rule out the other half of men in GOP, the half that isn't gay, and their mistress or daughter got pregnant, and they secretly paid for an abortion.

#7 | Posted by snoofy at 2018-06-14 04:50 PM | Reply | Newsworthy 1

"Nobody should ever be able to hold public office that has accumulated more than... say, one million."
Lets add to that anyone that is gay, on welfare and is pro abortion, mkay?
#6 | POSTED BY BOAZ AT 2018-06-14 04:32 PM

The 1% need to be eliminated from holding any public office, ever.

You are right that I arbitrarily chose one million. Do you have a better idea?

#8 | Posted by redlightrobot at 2018-06-14 04:57 PM | Reply

Do you have a better idea?

Just because they are a little wealthy? Everyone's vote counts for 1. We are all supposed to be equal in that respect. I'm not for taking anyone's right to run for office. If we penalize the rich, we also need to penalize the poor.

#9 | Posted by boaz at 2018-06-14 05:09 PM | Reply

"Do you have a better idea?"
Just because they are a little wealthy? Everyone's vote counts for 1. We are all supposed to be equal in that respect. I'm not for taking anyone's right to run for office. If we penalize the rich, we also need to penalize the poor.
#9 | POSTED BY BOAZ AT 2018-06-14 05:09 PM

What is the purpose of Citizens United other than for 1% to be able to make massive political bribes legal? What is the purpose of lobbyists other than to legalize bribery?

How would punishing the 99% serve the 99%? How has the 1% "served"? They don't even contribute their children to the war machine they direct to murder using the 99%'s children.

You are not making any sense with your "everyone's vote counts". The Supreme Court even stopped the recount of American votes for the presidency. How was that fair or equal?

How are mega-mergers fair or equal? How are bailouts after falsifying lending practice and insurance causing bubbles a fair or equal redistribution of taxpayer monies? Why should the largest globalized corporations pay less in taxes than the 99%?

How is any money in politics helpful to the 99%?

#10 | Posted by redlightrobot at 2018-06-14 07:09 PM | Reply

How about anyone who now has a job who did not prior to the increase in positions due to the booming economy.

#11 | Posted by MSgt at 2018-06-14 09:23 PM | Reply

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