Progressive millionaires. We have them!

[MissMarple]

Human nature does have wondrous variety.

A poster on another thread in GDP seemed convinced there are no altruistic wealthy people. So, remembering The Roosevelt's, the Kennedy's, Warren Buffet and Bill Gates Sr. I googled and look what I found!

www.responsiblewealth.org . (oops, I misspelled it, all fixed now)

"Forbes 400 Richest Americans: They Didn't Do It Alone

Self-serving stories of 'self-made' success may nourish the ego, but they mask the real ingredients of wealth creation and a strong economy. Where would the Forbes 400 be without public investment and infrastructure – from Google founders building on the Internet to Ross Perot and government contracts? Sep. 24, 2004

Tax Subsidy Delivers $9 Million Windfall to Google Founders While Google's IPO makes its founders instant billionaires on paper, Responsible Wealth today announced that federal tax subsidies contributed more than $9 million to their immediate $73 million profit.

How do People Get Wealthy? In addition to their own moxie, creativity and hard work, some wealthy Americans recognize that other factors such as societal investment, privilege, historical timing and luck had a role in their success.
Read about them in "I Didn't Do It Alone: Society's Contribution to Individual Wealth and Success."

And here's another: www.resourcegeneration.org .

"Resource Generation works with young people with financial wealth who are supporting and challenging each other to effect progressive social change through the creative, responsible and strategic use of financial and other resources.

Our purpose is to promote innovative ways for young people with wealth to align their personal values and political vision with their financial resources. We strive to strengthen cross-class alliances with people and organizations working for social and economic justice. Currently, RG works with over 500 young people with wealth across the country.

Resource Generation is led by a cross-class board and staff, and involves experienced activists and trainers from diverse class backgrounds in the development and implementation of all our programs."

[wryter2000]

1. Not all wealthy people are greedheads

Howard Brush Dean, III, among them. Not being greedy, that is.

[TwentyFive]

2. If I made over $200k per year, I'd gladly pay more income taxes because...

most income north of $200k is made from other people's work, or investments. It's not like somebody makes $200k and puts in overtime to increase their income to say, $300k.

It's more likely the extra $100k came from investments, or expaning your business. In either case, a healthy society gives the super rich more opportunuity.

[unblock]

4. i disagree about the level, but your thought is essentially correct

most people in the $200,000-400,000 range are probably professionals, wall streeters, very successful salespeople, etc.

but north of something like that, yes, it's all capital investment. the thing about capital investment, though, is that, if you've got enough, then it quickly becomes a full time job managing it. that's because it's often NOT just the stocks and bonds and funds that the rest of us play with if we've got some extra bucks. the millionaires invest in local businesses like restaurants and car dealerships and car washes and real estate and odd ventures and a lot of that requires active management.

still, they get so many advantages, they shouldn't mind paying extra in taxes. i know i wouldn't. or won't, once i get there

[TwentyFive]

12. I agree - there is some debate at which point 'wages' tend to top out

[Hello_Kitty]

9. And I'd rather pay $900K on $2M than nothing on $1M.

That's what a lot of people don't get. Lowering taxes on the wealthy does nothing to stimulate the economy in the long run. Lower taxes on regular working people and they buy, invest, and save more. But a lot of rich people are only thinking of their short term interest. Progressives like Warren Buffet see the big picture.

[unblock]

3. count me among them!

just as soon as i save up another $990,000!

[GreenPartyVoter]

13. *lol*

[joelogan]

5. your post does not even come close to proving your point

Buffett and Gates are just publicity generating liars. We need to take about 50% of their wealth first thing, and take their income at 70% a year no loopholes.

FDR went for the New Deal in order to keep America from going socialist, which would have meant that he and all his rich buddies would have lost ALL their wealth.

[Hippo_Tron]

6. 1) not everybody is for all-out socialism 2) it ain't gonna happen

I'm for most of the basic measures such as good public schools, access to higher education for all that have the grades, healthcare for all Americans, and keeping social security the way it is, etc. The fact is that most of those VERY basic liberal ideals are almost unrealistic at this point, especially with Repukes in the white house. I agree with creating a land of REAL opportunity for all Americans regardless of their background. I don't agree with pure socialism and neither do most Americans, so it isn't even a prospect at this point.

[joelogan]

8. socialism is where the state owns everything--there are no taxes

hoo boy.....

[GreenPartyVoter]

14. Look into social democracies

[Hippo_Tron]

16. Socialism is where the people own everything by virtue of the state

Stalinism was not socialism by any means, it was basically fascism with no existance of actual corporations, because the state played that roll. In real socialism, the government be moreso in the hands of the people than it is in this country. All of that aside, I don't agree with pure socialism, but I think as GreenPartyVoter points out, you don't quite understand what it is.

[Hippo_Tron]

7. You forgot Jon Corzine

Probably the richest and one of the most liberal US Senators.

[MissMarple]

11. I'm sure there are quite a few we don't know of. And draconian measures

such as JoeLogan suggests will only create a backlash. Fostering a fair distribution of wealth shouldn't create resentment, and it won't make everyone wealthy. Joe's suggestion sounds like what the right rebelled against in the 60's and 70's. It's more like a punishment for being wealthy than a contribution to a fair society. But, I don't think he's going to change his mind. And his point about Roosevelt trying to avoid socialism, so what. It was seen as a real problem at the time.

[idiosyncratic]

10. I heard the other day about a CEO here in San Diego who

made five million dollars last year.

What does someone need a five million dollar salary for?

[OneTwentyoNine]

15. Hell,Molly Ivins pulls down a million or more per year....

She says it doesn't bother her one BIT to pay about 400K in taxes,seeing how she still has 600,000 to squeak by on per year. There are lots of rich people who are Dems,lots....

David