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Canuck_2
Senior Contributor

Super rich becoming dictators

Found this article interesting and it is something I have thought is a baisis of much civil unrest in the world.

When a few have way too much and many have way to little.

 

Read this for a few thoughts about where teh world may be heading.

 

http://www.watoday.com.au/comment/super-rich-becoming-the-dictators-of-21st-century-20140103-309jg.h...

and I pull this clip not because it is the main part of the story but because it relates closer to most readers of this forum

At the same time, the extraordinary permissiveness of US laws on lobbying and campaign financing has allowed wealthy elites to gain immense sway over the political process. Witness the stories about the vast sums of cash spent by conservative business magnates like the Koch brothers; less often discussed, perhaps, are the rich Democrats, such as George Soros, who leverage their wealth to shape policy. Even less visible are the corporations and industrial associations who can purchase politicians and fix legislation to boost their bottom lines.

One recent academic study calculates that 40 per cent of political campaign contributions in 2012 came from one hundredth of 1 per cent of US households. That figure probably reflects the new economic elite's growing awareness of its own political power - not to mention the apathy among other segments of the population who feel increasingly divorced from meaningful participation. The erosion of alternative power centres, such as labour unions, undoubtedly contributes to a sense of rising cynicism and disengagement. It all serves to undermine the promise of America's democratic system.

As a result, the US is now experiencing a remarkable discussion of the causes of the new inequality and its political consequences. Authors from George Packer to Tyler Cowen are stirring impassioned debate about the perceived breakdown of the American social compact.



Read more: http://www.watoday.com.au/comment/super-rich-becoming-the-dictators-of-21st-century-20140103-309jg.h...

27 Replies
Husker-J
Senior Contributor

Re: Super rich becoming dictators

Hate to break it to you, but the extremely wealthy have pretty much controlled this country for the last several generations.

Yea, there was some different window dressings put up here and there, but the ruling class is still the ruling class, and the super rich, are still the super rich.

 

I remember in History class, how some thought the Rockefellers were sucking up too much of the countries wealth, and tried to come up with ways to redistribute some of their excess wealth through things like raising estate and income taxes.

Not surprisingly, they left loopholes big enough for the mega-rich Rockefellers to put untold dollars into trusts, to ensure that they will be rich for 17 generations, without the government gettting their money.

 

If you really want to read something interesting about how the elite continue to suck up wealth, look into how the elite Universities are hoarding wealth in thier endowments, much of it tax-free.   Amazing how those institutions who preach 'share the wealth' are some of the worst offenders at hoarding it.  As a teaser, one of the ivy league schools (I can't remember which one for sure) has enough wealth, to completely run the school, as in pay every bill, all the salaries, and provide free tuition to all the students, essentially forever.   The growth on their money, is greater than their total expenses.   Yet they still charge mega bucks for tuition, and still go around hawking for donations.

 

 

The problem is easy to see, but the answer is a difficult one.  

r3020
Senior Advisor

Re: Super rich becoming dictators


@Canuck_2 wrote:

Found this article interesting and it is something I have thought is a baisis of much civil unrest in the world.

When a few have way too much and many have way to little.

 

Read this for a few thoughts about where teh world may be heading.

 

http://www.watoday.com.au/comment/super-rich-becoming-the-dictators-of-21st-century-20140103-309jg.h...

and I pull this clip not because it is the main part of the story but because it relates closer to most readers of this forum

At the same time, the extraordinary permissiveness of US laws on lobbying and campaign financing has allowed wealthy elites to gain immense sway over the political process. Witness the stories about the vast sums of cash spent by conservative business magnates like the Koch brothers; less often discussed, perhaps, are the rich Democrats, such as George Soros, who leverage their wealth to shape policy. Even less visible are the corporations and industrial associations who can purchase politicians and fix legislation to boost their bottom lines.

One recent academic study calculates that 40 per cent of political campaign contributions in 2012 came from one hundredth of 1 per cent of US households. That figure probably reflects the new economic elite's growing awareness of its own political power - not to mention the apathy among other segments of the population who feel increasingly divorced from meaningful participation. The erosion of alternative power centres, such as labour unions, undoubtedly contributes to a sense of rising cynicism and disengagement. It all serves to undermine the promise of America's democratic system.

As a result, the US is now experiencing a remarkable discussion of the causes of the new inequality and its political consequences. Authors from George Packer to Tyler Cowen are stirring impassioned debate about the perceived breakdown of the American social compact.



Read more: http://www.watoday.com.au/comment/super-rich-becoming-the-dictators-of-21st-century-20140103-309jg.h...


Take the power out of Washington and it can't be purchased. Starve the dictatorial beast.

kraft-t
Senior Advisor

Re: Super rich becoming dictators

You need to ask what they are invested in and join their gravy train.

Milligan Hay - Iowa d:^)
Veteran Advisor

Re: Super rich becoming dictators

The gazillionaire AlGore comes to mind, with his obedient minions helping him become the top enviro-Nazi with his anti-Capitalist fair-y tale that makes him wealthy and powerful.
Husker-J
Senior Contributor

Re: Super rich becoming dictators

It really doesn't matter what you are invested in, anymore.   The super-rich, super-connected have the political clout to pretty much dictate policy to ensure they aren't on the short end of the stick.  Well, there are a few exceptions right now, like coal, but that can change with the next round of elections.

 

schnurrbart
Veteran Advisor

Re: Super rich becoming dictators

He was part of the ownership of Current TV network and served on the Apple Bd of Dir. The network was sold for $500 million and his share was $100 million He was given several thousand shares of Apple stock as compensation for being a director which he sold. That is where the bulk of his wealth came from contrary to the dirty deeds you elude to.
BA Deere
Honored Advisor

Re: Super rich becoming dictators

"I care not who makes the nation`s laws..."-Mayer Rothchild  

http://tobefree.wordpress.com/2010/05/10/the-rothschilds-world-kingpins-worth-500-trillion-they-own-... 

 

The Soro`s and Koch`s are just faces for us to throw rotten tomatoes at, as long as they entertain the masses and don`t step out of line, they get to keep their gig.

Husker-J
Senior Contributor

Re: Super rich becoming dictators

Exactly.   It really didn't matter all that much WHAT the Gores invested in.   Whether it be oil, 'green' energy, or a TV station, or some high paying figurehead for a corporation.   He was going to make big money, because of who he was, and who he knew.

schnurrbart
Veteran Advisor

Re: Super rich becoming dictators

Thought all y'all were big into big money????