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H2O Man

(78,581 posts)
Thu Jan 1, 2026, 04:26 PM 19 hrs ago

Flaming Pie

"Poverty is a policy choice. Concentrated wealth is a policy choice. Inequality is a policy choice. None of it is natural or inevitable. Remember: we have the power to build a system that serves the many, not the powerful few.” – Robert Reich

“America has 925 billionaires as of this year. Collectively they have a record $6.9 trillion in wealth. The bottom 50% of Americans control $4.2 trillion in wealth. When 925 people control more wealth than half a country's population, we have a very serious problem.” – Robert Reich


I've read a bit today about NYC Mayor Zohran Mamdani saying, “I don't think we should have billionaires.” Some here agreed with him, while others did not. Call it speculation upon my part if you will, but I doubt that any of the 925 billionaires are DU community members. However, in case there are those hoping to become #926, please allow me to start by paraphrasing Malcolm X: I am not advocating killing all billionaires. I'm not even sure that would be possible, or a good thing if it is possible.

Instead, I focus on what I view as the current trend of high-tech feudalism in America today. It involves a type of economic warfare that does not simply target another country, in the classical sense of weakening an adversary's stability. Rather, it is a domestic feature of parasite capitalism. One that, as Robert Reich points out, allows 925 people to have more than 50% of this country's population.

I am not advocating for a utopian, classless society. No pie-in-the-sky, even if it is a flaming pie. Being equal does not demand being exactly the same. My daughter, her husband, and my granddaughter live in a European country that cares about its citizens' well-being. In particular, they have a focus on health care and education, two things that are being attacked by the economic parasites currently ruling our government. I'm not recommending that we dream the impossible dream, but rather, dream Dr. King's dream.

Also, I am not suggesting that billionaire status is a cut-off for parasites. I'm not sure that Don Jr. or Eric are actually billionaires, for example. But they are definitely a pair of parasites. Like the sex offender formerly known as Prince Andrew, they believe they are the royal class – no different than the royal shit stains of medieval Europe – where all of society is structured to benefit them financially.

Thus, I am encouraged when I see a Mamdani, a Reich, Sanders, or some of the new generation of Democrats focusing on this most important issues. Indeed, I do not think we can deal in a meaningful way with the other issues facing us, if we do not confront this.

17 replies = new reply since forum marked as read
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True Dough

(25,759 posts)
1. "I'm not sure that Don Jr. or Eric are actually billionaires"
Thu Jan 1, 2026, 04:31 PM
19 hrs ago

Not on their own merit, no way! But with crypto in play, they could become billionaires via corrupt donations for favors from daddy.

What a despicable "administration".

H2O Man

(78,581 posts)
3. Right.
Thu Jan 1, 2026, 05:24 PM
18 hrs ago

Neither one has done an honest day's work in their lives. But Junior did have the meeting with the Russian intelligence individual in 2016, to promote his father's campaign.

True Dough

(25,759 posts)
17. I'm not sure
Thu Jan 1, 2026, 09:50 PM
13 hrs ago

who was first to call Jr. and Eric "Uday and Qusay," but I always thought that was quite fitting.

Saoirse9

(3,924 posts)
2. I really admire Mamdani
Thu Jan 1, 2026, 04:34 PM
19 hrs ago

I hope he’s successful in all areas and I agree with nearly everything he has said. We don’t need billionaires.

We need equitable distribution of wealth.

H2O Man

(78,581 posts)
6. Exactly!
Thu Jan 1, 2026, 05:37 PM
18 hrs ago

That would not prevent them for being wealthy, and leading an opulent lifestyle. It would only require a change in the sequence of digits in their bank accounts, thus allowing the rest of society to have access to health care, housing, education, and a healthy diet.

H2O Man

(78,581 posts)
5. Mamdani is
Thu Jan 1, 2026, 05:34 PM
18 hrs ago

my type of public servant. Two days ago, on another internet site, a retired railroad worker I know posted a mixture of anger and ignorance regarding what he claimed was Mamdani's plan for a social program aimed at unemployed young men. One old friend corrected him, noting it was a progressive jobs program. I pointed out that the plan was similar to FDR's CCC and WPA. Programs such as Job Corps are not perfect, of course, but they are good for the majority of the people they serve, which in turn benefits society.

Saoirse9

(3,924 posts)
11. That's what is missing
Thu Jan 1, 2026, 06:29 PM
17 hrs ago

“good for the majority of the people they serve, which in turn benefits society.”

Nothing is being done right now that benefits the majority. Just the opposite. GOP are actively working to hurt the majority.

Ol Janx Spirit

(656 posts)
8. The most disappointing thing--to me--is that everyone--including those 925 billionaires--would not...
Thu Jan 1, 2026, 06:11 PM
17 hrs ago

...want a society that is just and serves everyone.

It is immoral to not believe that IMO.

And, they could not be billionaires without a lot of people of ordinary means doing the work for them.

The marginalized in society are marginalized because those with power choose for it to be that way. And that is not a new thing, but something that reaches far back in human history.

We have failed ourselves.

paleotn

(21,486 posts)
9. Simply put, no group should ever have the resources to literally buy our democracy.
Thu Jan 1, 2026, 06:23 PM
17 hrs ago

Inequality will never go away, nor should it. There should be reward for work and ingenuity. But not to the point where they can so easily exploit everyone else. It seems both sides in America have this strange, binary view on capitalism. One side wants to chuck it entirely, which is just as idiotic and no more based on human behavior than laissez faire capitalism. Strong, rational controls are what's needed, whether that be regulation, taxation or both.

Sweden produces more "unicorns", billion dollar tech companies, per capita than anywhere on earth. The Nordics are renowned for it. Sweden also has a lower corporate tax rate than the US, as do all the Nordics. But no American corporation actually pays the list price. The US rate is a political mirage. There's a mountain of tax loopholes that keep all US corporations from paying the stated rate. Not so much for most of our OEDC friends. Swedish corporate tax rev. is 41% of their GDP. While only 26% in the US.

Rational controls on our baser urges so everyone has a near equal say. Including the urge to take our government captive.

1WorldHope

(1,853 posts)
12. There needs to be a twelve step program for the filthy rich to help them understand that they have a problem.
Thu Jan 1, 2026, 06:58 PM
16 hrs ago

We need treatment programs for greed. We need laws that protect society from the their problems.

markie

(23,821 posts)
14. "Property monopolized
Thu Jan 1, 2026, 07:06 PM
16 hrs ago

or in the possession of a few is a curse to mankind" John Adams thought....

"We have no Constitution which functions in the absence of a moral people" "Nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers and destroyers press upon them so fast that there is no resisting afterwards. The nature of the encroachments is to, grow every day more encroaching; like a cancer, it eats faster and faster every hour."

Martin Eden

(15,337 posts)
15. Extreme wealth disparity by itself is bad enough...
Thu Jan 1, 2026, 07:14 PM
16 hrs ago

But that kind of wealth translates into power, which corrupts. Billionaires purchase politicians and media, writing financial legislation for themselves and propaganda convincing voters to blame "others" for their misfortune.

And that kind of corruption runs through more than the hearts and minds of the billionaires themselves; it runs through the heart and soul of America like a cancerous boil that must be excised.

While our democracy lasts, we hold the lance and must use it effectively.

JHB

(37,935 posts)
16. This is simply getting back to the New Deal principles that worked
Thu Jan 1, 2026, 07:27 PM
16 hrs ago

Being the result of political deals and compromises made in the 1930s and 40s, by the 70s it had gotten creaky and needed some updating. What it did NOT need, but what we unfortunately got, was dismantling. Shooting Money skyward--as much as possible, as fast as possible, as high as possible--was made the highest virtue in the land.

The New Deal didn't prevent money from going up to the top, but it did bottleneck the flow. There's an old rule of prioritization in business: Speed, cost, quality. Pick two, because getting those will cost you the third.

The New Deal framework, with support for workers, regulation, and those top-heavy tax rates (including the system of deductions to lower your effective rate) imposed a "pick two" rule on "as much as possible, as fast as possible, as high as possible". Postwar prosperity was widespread because wealth had a chance to circulate through the economy before going up the chimney.

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