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There exists a popular false dichotomy that only two economic structures exist: pure capitalism or pure socialism. It is often assumed that if you don’t support a pure, unbridled style of capitalism, with low taxes on those with the most wealth, then you are a Communist, or Marxist, or Socialist (take your pick, because they are essentially used as synonyms in these accusations).  The truth is there are an infinite number of in-betweens and that both pure systems are fatally

It is the system of ultra-pure capitalism that creates greater and greater wealth for fewer and fewer individuals. Once an individual reaches a certain point, their wealth increase has nothing to do with them anymore. The system simply gives them more and more wealth (as shown in the illustrations from the previous sections.) They do nothing more to merit this enormous gift that the rest of us bestow upon them. Whenever they do sell some assets and pay a capital gains tax, th

As I’ve stated before, I believe that unbridled capitalism (pure capitalism, trickle-down capitalism, laissez-faire capitalism), with low taxes for the wealthiest people, is a system that grossly overcompensates a very few, while underpaying the many and denying basic life necessities and securities for a growing number of people. Let me offer an illustration that goes into more detail on the numbers from my most recent post.  Suppose an individual with a net wealth of $200 b

Higher taxes for those with great wealth has often been described, derogatorily, as a “redistribution of wealth”. I believe it is much more accurate to classify appropriate taxation as “correcting a misdistribution of wealth” rather than “redistributing the wealth”.  This might be the simplest way to express the need to shift our thinking into using capitalism and appropriate taxation to build an economy for all—one that is fair to all, and good to all. This shift would not b

It was two centuries plus two score and 9 years ago that our fathers brought forth on this continent a new nation, conceived in liberty, and dedicated to the proposition that all men* are created equal.   In 1776, Jefferson had called it a self-evident truth that all men are created equal. But sadly, four score and seven years later, when Lincoln gave his immortal Gettysburg Address, many were saying it was not a self-evident truth. That it was a lie. Thus, Lincoln had to cal

Saving the Social Security system and making it even better is of vital importance now, and always. I want to make the case that we all benefit all of the time from this program, not just when we retire.