Closing Thought–16Mar21

Some people have made out like bandits during the pandemic.

The total wealth of US billionaires rose $1.3 trillion amid the pandemic, the ATF and IPS said.

This could fund two-thirds of Biden’s $1.9 trillion COVID-19 rescue plan.

American billionaires have earned so much money during the pandemic that they could fund two-thirds of President Joe Biden’s COVID-19 relief package using profits generated in the last year, a report shows.

The combined fortune of American billionaires rose around $1.3 trillion, or 44%, from March 2020 to March 2021, Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS) said.

This increase is equivalent to two-thirds of the $1.9 trillion cost of Biden’s pandemic rescue plan, which he signed into law Thursday.

657 billionaires were worth a combined $4.2 trillion, the ATF and IPS said. Under current tax laws, none of this would be taxed during their lifetimes, unless the underlying assets are sold at a gain, they said.

https://news.yahoo.com/american-billionaires-could-fund-two-110000968.html

Time for this obscenity to change!

Children go hungry…..people lose their homes…..no jobs….and yet these societal parasites roll in dough.

Somebody needs to a grow a pair and step up and demand these ‘people’ start paying for the privilege of being part of the American society.

I do not care how much money they make or steal or whatever….all I want is for them to pay their fair share like the rest of us mere peasants.

A fair and equitable tax code would be a good start.

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I Read, I Write, You Know

“lego ergo scribo”

Closing Thought–07Jan21

To change the pace of the news for today…..

Poverty has always been around but eh onset of the Covid-19 was accelerated the growth of worldwide poverty and yet the richest people gained massive amounts of cash during the pandemic.

Bloomberg‘s year-end report on the wealth of the world’s billionaires shows that the richest 500 people on the planet added $1.8 trillion to their combined wealth in 2020, accumulating a total net worth of $7.6 trillion. 

The Bloomberg Billionaires Index recorded its largest annual gain in the list’s history last year, with a 31% increase in the wealth of the richest people.

The historic hoarding of wealth came as the world confronted the coronavirus pandemic and its corresponding economic crisis, which the United Nations last month warned is a “tipping point” set to send more than 207 million additional people into extreme poverty in the next decade—bringing the number of people living in extreme poverty to one billion by 2030. 

Even in the richest country in the world, the United States, the rapidly widening gap between the richest and poorest people grew especially stark in 2020.

As Dan Price, an entrepreneur and advocate for fair wages, tweeted, the 500 richest people in the world amassed as much wealth in 2020 as “the poorest 165 million Americans have earned in their entire lives.”

https://www.commondreams.org/news/2021/01/02/amid-warnings-surging-worldwide-poverty-planets-500-richest-people-added-18-trillion

This is an obscene stat to me…..and yet the masses of people still support the system that allows them to be little more than wage slaves…..

That is so pathetic….this country and the world deserve better….or do we?

I Read, I Write, You Know

“lego ergo scribo”

Closing Thought–19Nov20

What does the richest man in the world do with some of his cash?

Why he gives it away….you know kinda like Gates and Buffet…..with no other motive than the kindness in his heart……Hahahahaha!  Sorry I could not continue without laughing.

What am I going on about?

The world’s richest man is a teensy bit less rich. Amazon founder Jeff Bezos is donating $791 million, via grants to 16 groups that are working to combat climate change. “I’ve spent the past several months learning from a group of incredibly smart people who’ve made it their life’s work to fight climate change and its impact on communities around the world,” the billionaire wrote on Instagram. “I’m inspired by what they’re doing, and excited to help them scale. Today, I’m pleased to announce the first Bezos Earth Fund recipients—16 organizations working on innovative, ambitious, and needle-moving solutions.” He says he’s committing even more, a total of $10 billion, “to fund scientists, activists, NGOs, and others. We can all protect Earth’s future by taking bold action now.”

Bezos is just following in the foot steps of Bill Gates and wife and Warren Buffet….all are giving up their mass fortunes to help society.

Okay I admit it…I am a doubting Thomas….no one that damn rich gives cash way without something in return.

Nope I am not buying the philanthropy for the sake of philanthropy slant to this story.

What will he get for all this “effort”?

My guess is massive tax savings….

Any thoughts?

I Read, I Write, You Know

“lego ergo scribo”

Who Is The Richest?

The weekend…..and holding to my tradition as a weekend FYI blog…..I will offer a bit of history as well as the FYI……

Who is the richest person?

Jeff Bezos…..or Bill Gates…..or the Zuck……how about a Rothchild or two…..just who is the richest person….EVER?

Some say Jeff Bezos…….

But he is by no means the richest man of all time.

That title is believed to belong to Mansa Musa, the 14th Century West African ruler who was so rich his generous handouts wrecked an entire country’s economy.

“Contemporary accounts of Musa’s wealth are so breathless that it’s almost impossible to get a sense of just how wealthy and powerful he truly was,” Rudolph Butch Ware, associate professor of history at the University of California, told the BBC.

Mansa Musa was “richer than anyone could describe”, Jacob Davidson wrote about the African king for Money.com in 2015.

Mansa Musa was born in 1280 into a family of rulers. His brother, Mansa Abu-Bakr, ruled the empire until 1312, when he abdicated to go on an expedition.

According to 14th Century Syrian historian Shibab al-Umari, Abu-Bakr was obsessed with the Atlantic Ocean and what lay beyond it. He reportedly embarked on an expedition with a fleet of 2,000 ships and thousands of men, women and slaves. They sailed off, never to return.

Some, like the late American historian Ivan Van Sertima, entertain the idea that they reached South America. But there is no evidence of this.

In any case, Mansa Musa inherited the kingdom he left behind.

Under his rule, the kingdom of Mali grew significantly. He annexed 24 cities, including Timbuktu.

The kingdom stretched for about 2,000 miles, from the Atlantic Ocean all the way to modern-day Niger, taking in parts of what are now Senegal, Mauritania, Mali, Burkina Faso, Niger, The Gambia, Guinea-Bissau, Guinea and Ivory Coast.

https://www.bbc.com/news/world-africa-47379458

Not to worry if you do not like reading….in this age of laziness I have a video to explain the person…..

Now you know.

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo”

Taxing The Rich!

It is TAX DAY!

OMG! That is almost blasphemous these days.

The lie spread is that the less tax the wealthy pay to more economic activity they produce and in turn the better the Middle Class and workers will do.

Pause here for the inevitable dash to the Google machine……..

Just about every viable candidate for the Dems has some plan or other to tax the rich so at least we get something from these people….Warren, AOC, Bernie, Yang et al…..it is a popular meme for Dems this cycle.

The 1990s Democratic Party made friends with the rich. The 2008 Democratic Party was eager to bail them out. The 2019 Democratic Party seems ready to declare war.

In just the past few months, at least three major Democratic Party figures, two of whom are presidential contenders, have proposed large tax increases targeted at the richest Americans:

Rep. Alexandria Ocasio-Cortez (D-NY) floated a big increase in top marginal income tax rates in an interview on 60 Minutes. Sen. Elizabeth Warren (D-MA) proposed an annual wealth tax. Sen. Bernie Sanders. (I-VT) proposed a drastic hike in the estate tax.

There is a way and there is a desire by the people to see the rich to start paying their share of the American Dream……

https://www.vox.com/2019/3/19/18240377/estate-tax-wealth-tax-70-percent-warren-sanders-aoc

How successful will these people be in this endeavor?

If you listen close enough you can hear the big guns of corproate America being prepared for war.

2020 is the voters chance to change the course of the crumbling America……but do they have the guts to step up for change or will they roll over like they have been doing since the 1990s?

After ‘Destroying’ Canada, Stephen Harper Leaving Politics

I have a few readers from the north, Canada, to be accurate……while we Americans pay little attention to our neighbors to the north…..some things are universal……like politicians that leave office and immediately set about making their fortune on their “good” name.

I mean look at the fortune that Bubba has put together with that corrupted piece of crap he calls the Clinton Global Initiative……..and now his wife has eyes on her next fortune……

Sorry I digress……looks like Canadian politicians are NO different from their American counterparts…..

News that former Canadian Prime Minister Stephen Harper would be leaving politics presumably to “make his fortune” was met with derision and delight from his many critics who say that the conservative MP “destroyed the social fabric of Canada.”

Harper is expected to resign from federal politics before Parliament resumes in the fall. According to the Globe and Mail, which broke the news Wednesday, he plans to “pursue new interests on corporate boards and the establishment of a foreign policy institute,” which, according to an undisclosed source, “won’t be academic or domestic-policy focused…but directed largely at global ‘big picture’ issues.”

And one former policy director speculated that those issues will likely include free trade, in addition to Harper’s “geopolitical thinking” in regards to human rights, democracy, and “standing up to authoritarian regimes.”

uring his tenure as Prime Minister, which spanned from 2006-2015, Harper was known internationally for pushing through an aggressive conservative agenda which included: wholesale investment in fossil fuels, including Canadian tar sands; blocking international efforts to combat climate change; dismantling civil liberties through mass surveillance; unflinching support of Israel and attempts to outlaw pro-Palestinian boycott movements; supporting numerous wars overseas; and willfully ignoring the treaty rights of Canadian First Nations, among many other things.

After word of his imminent departure broke, critics took to social media to speculate about what may be next for the man accused of turning Canada into a “climate villain.”

(commondreams.org)

I would like to hear from my readers from the north…..please let my other readers know what is what in Canada…..all opinions welcome…..