Thursday, July 24, 2014

Ultra Rich With Inherited Wealth Out to Change the Country: But How

All Mine - Wow - What For???
(Momma: My diaper is full, too)

Opposition and Income Both Up 

Income Up Help Thy Neighbor Down

Income Up Ditch The Safety Net

Income graphs and heart of the story posted here from article - a good read:

"Before we go any further, it should be noted that the wealth of the super-rich is notoriously hard to measure." 

"Often times, these individuals — having gained prominence in society due to their money and stature — have the means and the desire to hide the true extent of their fortunes and most do (called off-shore accounts in the Caymans or some Swiss bank)."

The heart of this story which I want to emphasize is this (with some of my own editing but not to distract from the original story – I do that to make the point stronger with my slant while keeping the point in focus):

“[The] … fresh new wave of many wealthy millennial Congressional candidates, who are usually enthusiastic and idealistic. These young Americans paradoxically promote a style of bland, Washington Consensus politics, what Pennsylvania House candidate (and proud millennial) Nick Troiano has billed “radical centrism.” As a generation generally lauded for our commitment to civil service, noted for our love of structure, and gently mocked for our aversion to risk-seeking, surely we must be the perfect generation to fix America’s broken politics. Right? Unfortunately, probably not." 

“Why? Our current political system, where the cost of running for national office is prohibitively high for candidates of any age, is almost certain to bend further and further toward affluent candidates in coming years."

“On its own, this is troubling enough as it threatens the credibility and productivity of our democracy. But when considering the political views of affluent Millennials — and the rest of the generation more generally — an ominous trend emerges."

So, I posted the three graphs from the story to make my point (graphs I, II, and III above).

“Radical change – um .. According to every metric reason examined, the famed liberalism of young Americans fades as soon as their bank accounts grow.”

Why is that – oh, yeah, to protect your wealth at any cost, and it usually costs plenty. That’s the heart of this story and my view, too. Thanks for stopping by.

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