EgbertoWillies.com

Political involvement should be a requirement for citizenship

  • Home
    • Homepage
    • Login
    • About Us
    • Bio
    • Research
      • BallotPedia
      • Bureau of Labor Statistics
      • CallMyCongress
      • LegiScan
      • OpenSecrets.org
      • Texas Legislature Online
      • US Dept; Of Health & Human Services
      • US Dept. of Labor
      • VoteSmart
    • Contact Us
    • Disclaimer
    • Privacy Policy
  • Shows
    • Live TV
    • Move to Amend Reports
    • Politics Done Right
  • Books
  • Articles
    • AlterNet
    • CNN iReports
    • CommonDreams
    • DailyKos
    • Medium
    • OpEdNews
    • Substack
  • Activism
    • Battleground Texas
    • Coffee Party
    • Move To Amend
    • OccupyMovement
  • Social
    • BlueSky
    • Facebook
    • Instagram
    • Pinterest
    • Tumblr
    • Twitter
    • YouTube
  • Sections
    • Environment
    • Food And Cooking
    • Health
    • Local News
    • Odd News
    • People Making A Difference
    • Political
    • Reviews
      • Book Reviews
      • Books I Recommend
      • Product Reviews
    • Sports
    • Substack Notes
  • Donate
  • Store

Bill Moyer: ‘We are heading to a future of inherited wealth’ Patrimonial Capitalism(VIDEO)

April 26, 2014 By Egberto Willies

Patrimonial Capitalism

After watching Bill Moyer and Paul Krugman above, I purchased Thomas Piketty’s new book ‘Capital in the Twenty-First Century’. I covered much of what Paul Krugman and Bill Moyer said above in layman terms in several of my blogs and in my book.

“Here is Pikkety’s main point,” Bill Moyer’s said. “Capital tends to produce real returns of four to five percent and economic growth is much slower (2 to 3%). What’s the practical result of that?”

The result of that to a mathematical certainty is the economy in which we live today. I stated as much in a blog post I wrote a few months ago titled “Corporate Profits Under ‘Socialist’ Obama Double Reagan’s –Middle Class Under Siege.” In that post I said the following

It is a mathematical fact that if the wealthy’s income and wealth is growing at a faster rate than the wealth and income of the middle class in a virtually closed world economy, then it is being done at the expense of the middle class. In other words, the middle class is being robbed. The middle class is being pilfered. It has nothing to do with the wealthy being bad people. It is that politicians have created bad policy that have allowed an economic system of selected haves and “have nots” based on who has access to capital.

Governmental policy has allowed the hoarding of capital after the New Deal since the inception Reagan’s supply side economics. No one needs to guess what has occurred. It is found readily in the charts. Now that the hoarding of capital has reached an unsustainable rate, many on the Right would have citizens believe the country is broke and that even more sacrifices are required of the middle class. This is a false premise. America is not broke. It is being pilfered from within.

I went further in my book “As I See It: Class Warfare The Only Resort To  Right Wing Doom” where I discuss the further negative implication of taxing capital gain at a lower rate  than income from wages.

The disparity in how one’s money is taxed allows for those who are wealthy to increasingly accumulate ever increasing wealth at a faster rate than a working person. Why; because “income” from capital appreciation (that increase in stock value) is taxed at a much lesser rate than income from work. As such the investing person (likely the wealthier person) has more disposable income to reinvest than the working person. That is a formula that is not easily overcome.

Contrary to popular belief our tax system is engineered to keep the average worker always at a financial disadvantage to the investor. In other words our tax policy rewards those that move and manipulate capital over those who would do an honest day’s work.

It is not at all difficult to understand this reality; however with a Right Wing echo chamber that is good at conflating mutually exclusive issues, they have been able to convince a substantial number of Americans that the equitable taxing of wealth and the wealthy would be detrimental to our economy. Many Americans are likely willing to believe the fallacy because they naïvely believe that the American dream of anyone having equal opportunity to make it applies to them. Unfortunately under our current implementation of capitalism, the tenet that everyone has the same opportunity is nothing but a pipe dream.

If you are born poor in a poor neighborhood, you likely will attend an underfunded public school with substandard resources. A substandard education in one’s formative years is a high mountain to climb that most simply do not even attempt.

This is patrimonial capitalism by design.

I love the term patrimonial capitalism. Unfortunately the problem is much deeper than simply patrimonial capitalism. The entire financial system is geared towards the creation of patrimonial capitalism intentionally.

In our current economic construct, advancing financially for most is but a pipe dream. Comedian George Carlin says it best in his skit  ‘The American Dream”. We must be the change lest we seal our fate. We must vote in 2014.


Patrimonial Capitalism, Patrimonial Capitalism by design
LIKE My Facebook Page – Visit My Blog: EgbertoWillies.com
Follow @EgbertoWillies

Share this:

  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on Reddit (Opens in new window) Reddit
  • Click to share on X (Opens in new window) X
  • Click to share on Tumblr (Opens in new window) Tumblr
  • Click to share on Pinterest (Opens in new window) Pinterest
  • Click to share on WhatsApp (Opens in new window) WhatsApp
  • Click to email a link to a friend (Opens in new window) Email
  • Click to share on Mastodon (Opens in new window) Mastodon
  • Click to share on Nextdoor (Opens in new window) Nextdoor
  • Click to share on Telegram (Opens in new window) Telegram

Like this:

Like Loading...

Viewers are encouraged to subscribe and join the conversation for more insightful commentary and to support progressive messages. Together, we can populate the internet with progressive messages that represent the true aspirations of most Americans.

Support Our Politics Done Right Store

Filed Under: General Tagged With: Patrimonial Capitalism

About Egberto Willies

Egberto Willies is a political activist, author, political blogger, radio show host, business owner, software developer, web designer, and mechanical engineer in Kingwood, TX. He is an ardent Liberal that believes tolerance is essential. His favorite phrase is “political involvement should be a requirement for citizenship”. Willies is currently a contributing editor to DailyKos, OpEdNews, and several other Progressive sites. He was a frequent contributor to HuffPost Live. He won the 2nd CNN iReport Spirit Award and was the Pundit of the Week.

Follow Us

  • Facebook
  • X
  • YouTube
  • Instagram
  • Pinterest
  • Tumblr
  • LinkedIn

Support Independent Media

Support Politics Done Right on PayPal

Politic Done Right

RevContent


Support Independent Media



RSS Feed

  • RSS - Posts
Mastodon
%d