Record-breaking number of billionaires signals a second "Gilded Age" with inequality hitting 1905 levels


#1

Originally published at: https://boingboing.net/2017/10/27/new-gilded-age.html


#2

How much longer before we’re at 1861 levels of inequality?


#3

How long do we have to wait for the New New Deal?


#4

After the Greatest Depression. It’s gonna be 'uge.


#5

I’m working on a new book, “To Serve the Rich”


#6

The GOP will have to work a bit harder if they’re going to drag us all back to 1895, which is their true target date for a time when America was Great: not only Gilded-Age Robber Barons and no federal income tax, but also a nation where non-white, non-male, and non-Christian people knew their place.


#7

It’s all going to be ok, because trickle down economics!!!

Those billionaires will employ a host of inmates and sons of bitches, and there fore we all owe them thanks for allowing us a seat at the scraps table.


#8

I was recently in Newport, RI and DAMN!, the Gilded Age enabled the building of some amazing cribs.

Funny thing is that after income tax was implemented allot of those mansions fell into disrepair and or became museums. (Sorry Anderson)


#10

This is sarcasm right?


#11

No, just the usual from an obsessive anti-statist who wants to Gish-Gallop his hobby-horse into a thread-derailing discussion about the evils of state pensions and Social Security. A review of his comment history will confirm this.


#12

Kidding right? Most workers in the US live paycheck to paycheck. There is nothing left to invest.


#13

Say…pension problems and government policies fostering inequality that could be changed to fix them…I’m thinking the definition of the problem includes the solution.


#14

Even if the workers had money to invest, which they don’t, its awfully convenient that what they should do is give the money to Wall Street, so they can take more money from them…

Its like privatizing Social Security - Wall Street would love to sink their hooks into all that idle money.


#15

An interesting NYTimes comment from a self-described member of The Gilded 1%:

"TS Connecticut 1 day ago

I’m in the 1%. I voted for and donated to HRC. Since the election, I’ve seen my retirement and brokerage accounts swell. They’ll only grow more when the Republicans cut my tax rate. My health care coverage is unaffected by the legislative morass. And now I may not even have to pay any estate tax. Why am I so deserving of such unsolicited gifts? I would love to ask members of Trump’s base why they keep doing me these favors. Have things really gotten that much better for them since the election? It is a puzzlement." -NYTimes

Scratching their head all the way to the bank.


#16


#17

He’s obviously a member of the Coastal Elite and hence not a Real American™ (or so a Libertarian cynically pushing right-wing populist rhetoric will arrive shortly to inform us).


#18

And make sure the locals pay for it and give huge concessions or else I will take my team elsewhere?


#19

I strongly…STRONGLY…suggest you go away now. The level of stupid here is beyond my will to cope with today.


#20

Excuse me, but I work, and I am barely keeping afloat with two kids in college, both with scholarships. I had do a cash-out mortgage refinance on my home to replace my roof, which is hardly an optional expense. My son’s going to graduate with a crippling debt load, and he works at NASA full time while going to school.

The American working class has to save every red cent just to pay for their kids’ education, since there’s less and less lucrative employment for those without a college degree.


#21

This whole thing is going nowhere until the death of the notion that money invested by the wealthy is better for economic growth than money spent by consumers. Until then we will continue to funnel wealth to the wealthy.