The democratic argument:
The concentration of wealth in a small group allows for
anti-democratic influence of social policy. The wealthy have the ability
to create their own "think tanks" and astro-turf front organizations. These
are then used to create the perception that the public is in support of
their self-serving objectives. Recent studies have shown how these techniques
were used in the repeal of the estate tax debate as well as in the rise of
new factions opposing the liberal social policies of the Episcopal church. When
such vast amounts of money are under the control of a tiny group the basic
mechanisms of democracy are undermined
What is Wealth? - 0 views
Wealth Distribution - 0 views
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When the wealth of a society gets sufficiently unbalanced it ceases to valuable since there are no people with the resources to purchase it. During the French revolution most of the furniture in the estates was looted and much of it was used for firewood. It had no value in a peasant's home. It didn't fit, wasn't practical, and the decorative detail was useless.
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So any plan that is going to shift the balance of wealth has to deal with issues of extracting real value from the accumulations of the wealthy without causing a drop in the marketability of the assets.
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