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bronxiteforever

(9,287 posts)
Wed Apr 24, 2019, 06:12 PM Apr 2019

The kings of capitalism are finally worried about the growing gap between rich and poor (Guardian)

Now that the political debate has shifted, Bridgewater founder Ray Dalio is the latest in a bank of billionaires to talk about the gap between rich and poor
The Guardian
By Dominic Rushe
4/24/19

...This month Ray Dalio, founder of Bridgewater, the world’s biggest hedge fund, an investor in low-wage employers including Walmart and KFC, and a man worth about $18bn according to Forbes, became the latest in a bank of billionaires to go public about his fears of widening income inequality. The yawning gap between rich and poor is a “national emergency”, Dalio wrote in an 8,000-plus-word blogpost on LinkedIn (where else?) that poses an “existential risk for the US.

...Never before have so many of the kings of capitalism showed so much concern about the system that created them, said Charles Geisst, author of Wall Street: A History and professor of economics and finance at Manhattan College.

...the political debate has shifted, said Geisst. “I think they realize that Bernie Sanders has a lot more support than a lot of people think,” he said. Sanders and fellow Democratic presidential hopeful Elizabeth Warren “could give them a really bad time” with their plans for higher taxes and greater regulation, he said. “These people are famous for hedging their bets, and this is another way of doing it.”



https://www.theguardian.com/commentisfree/2019/apr/24/ray-dalio-jamie-dimon-kings-of-capitalism-concerned?CMP=Share_iOSApp_Other

Worth the read

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The kings of capitalism are finally worried about the growing gap between rich and poor (Guardian) (Original Post) bronxiteforever Apr 2019 OP
They're just hoping the maximum marginal tax rate is 75% instead of 90%... PeeJ52 Apr 2019 #1
They're Starting to Realize the Masses Waking Up to the Scam dlk Apr 2019 #2
"Park Avenue," a 2012 documentary by Alex Gibney, klook Apr 2019 #3
Thanks the doc sounds good bronxiteforever Apr 2019 #4
Yeah, watched just the first few minutes so far klook Apr 2019 #5
Thanks for the Recommendation-Will Check it Out dlk Apr 2019 #6
Hey, Kings of Capitalism is my term Farmer-Rick Apr 2019 #7
 

PeeJ52

(1,588 posts)
1. They're just hoping the maximum marginal tax rate is 75% instead of 90%...
Wed Apr 24, 2019, 06:16 PM
Apr 2019

They know it's going up though...

klook

(12,155 posts)
3. "Park Avenue," a 2012 documentary by Alex Gibney,
Wed Apr 24, 2019, 06:23 PM
Apr 2019

is still quite relevant on this topic:
http://www.pbs.org/independentlens/films/park-avenue/

Gibney contends that America’s richest citizens have “rigged the game in their favor,” and created unprecedented inequality in the United States.

The 0.01% will start to care when they see their money threatened.

klook

(12,155 posts)
5. Yeah, watched just the first few minutes so far
Wed Apr 24, 2019, 06:34 PM
Apr 2019

- looking forward to the rest.

And thank you for the link to this article! Telling last sentence:

For all their apparent concern, Geisst is unconvinced. “I don’t think they are worried about it at all,” he said. Their ultimate message is “yes the system is crooked, but please don’t take my money away”, he said.

Yep.
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