A proper community, we should remember also, is a commonwealth: a place, a resource, an economy. It answers the needs, practical as well as social and spiritual, of its members - among them the need to need one another. The answer to the present alignment of political power with wealth is the restoration of the identity of community and economy. (pg. 63, "Racism and the Economy")
I am grateful for what I am and have. My thanksgiving is perpetual. It is surprising how contented one can be with nothing definite - only a sense of existence. Well, anything for variety. I am ready to try this for the next ten thousand years, and exhaust it. How sweet to think of! my extremities well charred, and my intellectual part too, so that there is no danger of worm or rot for a long while. My breath is sweet to me. O how I laugh when I think of my vague indefinite riches. No run on my bank... Read more »
You obviously don't know what an Old Man of the Sea great wealth is. It is not a fat purse and time to spend it. Its owner finds himself beset on every side, at every hour, wherever he goes, by persistent pleaders, like beggars in Bombay, each demanding that he invest or give away part of his wealth. He becomes suspicious of honest friendship--indeed honest friendship is rarely offered him; those who could have been his friends are too fastidious to be jostled by beggars, too proud to risk being mistaken for one.
The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business and invest it in tax-exempt securities or to find other lawful methods of avoiding the realization of taxable income. The result is that the sources of taxation are drying up; wealth is failing to carry its share of the tax burden; and capital is being diverted into channels which yield neither revenue to the Government nor profit to the people.
But let it not be said that we did nothing. Let not those who love the power of the welfare/warfare state label the dissenters of authoritarianism as unpatriotic or uncaring. Patriotism is more closely linked to dissent than it is to conformity and a blind desire for safety and security. Understanding the magnificent rewards of a free society makes us unbashful in its promotion, fully realizing that maximum wealth is created and the greatest chance for peace comes from a society respectful of individual liberty.
Just look at that Forbes 400. Takes a billion three to get on the Forbes 400 this year. And the aggregate wealth is just staggering. And those people are paying less percentage of their total income to the federal government than their receptionists are [...] I'll bet a million dollars against any member of the Forbes 400 who challenges - me that the average for the Forbes 400 will be less than the average of their receptionists.
This is the standard procedure for corporate growth these days; one company buys up another on loans that are floated on the basis of future earnings, and the monopoly or oligopoly created in this way produces the necessary funds by squeezing out competition, and passing the costs along to the consumer. The bucket that holds the new wealth is called a corporation.
Much of American wealth is an illusion which is being secretly gnawed away and much of it will be completely wiped out in the near future....So what is the rest of your future? A grisly list of unpleasant events -- exploding inflation, price controls, erosion of your savings (eventually to nothing), a collapse of private as well as government pension programs, and eventually an international monetary holocaust which will sweep all paper currencies down the drain and turn the world upside down.