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You shouldn't confuse your stereotypes of people for actual people. > The Republican party is the party of generational wealth transfer. I'm not sure what thi
by pessimizer 2y ago
You shouldn't confuse your stereotypes of people for actual people.
> The Republican party is the party of generational wealth transfer.
I'm not sure what this is supposed to mean. The Republican party is half the country.
"Demographic data compiled in the 2016 and 2020 elections showed that the top 40 percent of income earners preferred the Democratic candidate for president (Hillary Clinton or Joe Biden) over the Republican (Donald Trump), signifying a sizable coalition shift from where the party was in the previous decade."
https://www.newsweek.com/democrats-being-party-rich-could-cost-them-2024-election-1806747 https://www.newsweek.com/democrats-being-party-rich-could-co...
"Some recent US figures on the distribution of income by party: 65 percent of taxpayer households that earn more than $500,000 per year are now in Democratic districts; 74 percent of the households in Republican districts earn less than $100,00 per year. Add to this what we knew already, namely that the 10 richest congressional districts in the country all have Democratic representatives in Congress. The above numbers incidentally come from the Internal Revenue Service, via Bloomberg, and are likely to be more reliable than if they came from Project Veritas via theblaze.com."
https://www.thenation.com/article/society/democrats-rich-party-obama/ https://www.thenation.com/article/society/democrats-rich-par...
> The Republican party is the party of all the economic forces that are unraveling rural communities and turning them into slums.
All of them?
"For decades, the Republicans were seen as the party of big business. Their support for low taxes and light regulation was manna to executives eager to raise profits and avoid government entanglements, and chief executives and big companies were reliable funders of Republicans up and down the ballot.
"Mr. Trump has frayed those bonds. Four years ago, few major chief executives supported Mr. Trump during his first campaign. And throughout his time in the White House, executives from many of the company’s biggest brands publicly sparred with the president on everything from gun control to climate change to immigration.
"'I can’t remember a time when the business community has spoken out so strongly in opposition to an administration on so many important issues,' said Rich Lesser, chief executive of Boston Consulting Group."
https://www.nytimes.com/2021/01/15/business/republicans-business-trump.html https://www.nytimes.com/2021/01/15/business/republicans-busi...
> Is the Culture War so important/motivating to these people that they are willing to help implement their own economic destruction?
This is the culture war. You're doing it right now.
- mptest 2y ago>> The Republican party is the party of generational wealth transfer. >I'm not sure what this is supposed to mean. They oppose estate or "death" taxes in general. That is what they mean. >The Republican party is half the country. They're half of voters. They haven't won the popular vote in how many years? 40? They're an obnoxiously loud minority. >All of them? Probably not all, but nearly all. The maga tariffs and then subsequent bailouts of farmers harmed comes to mind. reagan's austerity is another easy example. >>Is the Culture War so important/motivating to these people that they are willing to help implement their own economic destruction? This is the culture war. >You're doing it right now. No, they aren't. The republicans bemoaning the 1% of people who identify as trans to distract their uneducated voters while banning books and attacking public education funding, libraries, women's rights, etc, are. Don't fall in to the bothersider ism trap. Look at republican policy in a red state like texas[0] to see why the comment you replied to is the truth. [0] https://www.chron.com/politics/article/texas-gop-2024-priorities-19503582.php https://www.chron.com/politics/article/texas-gop-2024-priori...
- bequanna 2y agoThe estate tax doesn’t mean too much. “Generational wealth” is generally a myth. The second and third generations burn through any inheritance and sprint back to middle class rather quickly.
- gwd 2y ago> “Generational wealth” is generally a myth. The second and third generations burn through any inheritance and sprint back to middle class rather quickly. Ref? That was definitely not my impression from listening to "Capital in the 21st Century".
- bequanna 2y agoPiketty is not my favorite. I consider him a pure academic who tends to cherry pick data. In reality, wealth tends to cluster around people who are good stewards of it. They allocate capital efficiently and we are all better off. The government is NOT a good steward of wealth. They allocate inefficiently (because no accountability) so we should minimize what we give them. Here is a quick and dirty reference discussing how lazy kids of rich people blow it: https://finance.yahoo.com/news/generational-wealth-curse-causing-90-152639070.html https://finance.yahoo.com/news/generational-wealth-curse-cau...