>Since the Reagan years, Woody and his pals have decimated the inheritance tax (cutely renaming it the "death tax") resulting in a huge transfer of wealth to people who have done absolutely nothing to earn it.
>
>There's a key context here - legally, they own it. They wind up being accountable, in some manner, to stockholders, partnership teams, etc. They concept of ownership tends to get overlooked in these conversations. Unless they acquired the wealth through fraud or serious legal breach, it's theirs because someone chose/planned it that way (or possibly by default if there was no formal method of transfer, but that winds up getting messy)
>
>You and I should start our own TV show....remember the McLaughlin Group? :)

>>legally, they own it.
Ultimately, an owner of something only maintains ownership by the consent of those who don't own it.
The few control the many only with the consent of the many, however powerless the many may seem.
Ghandi understood that.
Mandela understood that.

FDR - who came from wealth- undertook a massive wealth rebalancing during the 1930's that defeated the communist movement in the US at that time and set the stage for the creation of a middle class.
That trend, and widespread prosperity, continued thru the Nixon years.
Since Reagan, there has been a massive shift in the other direction with the empowerment of huge multinationals thru globalization, the slashing of marginal tax rates and the systematic destruction of labor unions.
Mitt talked about the 47%. 40 years ago, they might have been 20%.
If that number continues to increase history tells us that things will change.

So, yes, Marcia, I was a bit disingenuous.
I know exactly why some people fear that phone lady.


Hey, Kevin.
I loved the Mc Group. He, Pat Buchanan and Bill Buckley (all Irishmen as it turns out) were my favorite right wingers.
But you're more photogenic than I am. That wouldn't be fair!