Follow Oxbridger Edward Luce as he poses as a critic of 'Wealth Inequality' & 'America’s plutocratic reality'.
Old Socialists & Mr. Vinegar comment.
What part does a of snapshot of AOC, at the Met Gala, play in this Luce disquisition? (My favorites were Little Nas X and Meghan 3 Stallions! )
AOC , an example of an out of touch New Democrat, passing herself off as a 'Progressive'? Larry Summers' former 'speech writer' and Boswell tedious economic chatter is an utter mismatch. Mr. Luce's attempt at political prestidigitation falls flat! Although Mr. Luce, with the bit between his teeth, at full gallop is comic!
Yours,
Mr. Vinegar
https://www.ft.com/content/e57ce343-f01a-46b6-9b1c-ec007c6b1843
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reply In reply to Stevie
Meghan 3 Stallions is the natural inheritor of Josephine Baker, Ma Rainey, Mae West, Marilyn Monroe , Jayne Mansfield ! Not to forget Madonna in her various iterations. Meghan is unabashedly sexual. Think Eartha Kitt in the early stages of her career: 'Santa Baby'!
But don't stop there. Watch and listen to the dialogue that William Faulkner, and other writes, wrote for Bacall and Bogart in 'The Big Sleep' !
Granted Meghan isn't gifted with a talent for double entendre, but the demotic is her patois.
Thank you for your comment,
StephenKMackSD
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September 17, 2021
Some further thoughts:
The Reader has to find it comic that Mr. Luce finds it necessary, to give the appearance of advocating for the ordinary citizen. The appearance of political profiteer Joe Manchin, who now finds himself as the role of spoiler to Biden’s etiolated ‘New/New Deal’ , demonstrates that political power and its abuse are partners!
This argumentative whole develops as the Luce’s essay unfolds. Selective quotation …
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But the loudest trumpet in this retreat belongs to mainstream party liberals from Democratic strongholds such as New York and California. They are hoping to repeal the $10,000 annual cap on the state and local tax deduction (Salt), which enables residents of high tax states to offset what they pay locally against their federal income taxes. Almost all the beneficiaries of scrapping the cap would be rich. The cost to the taxpayer would amount to $91bn a year, which would more than wipe out the income tax increases the wealthy would have to pay under the Democratic plan. The wealthiest 0.1 per cent would get an average $145,000 tax cut. For the middle 60 per cent of households, it would be $27 a year.
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It does not help that Democrats are presenting their Salt plans as “relief for the middle classes” — and now “pandemic relief”. It was Republicans who substituted “tax relief” for “tax cut” to make it sound better. Democrats are picking it up verbatim. “When Democrats say this is relief for the middle classes, what exactly is their definition of ‘middle’?” asks Richard Reeves, a Brookings fellow and scholar of US meritocracy. “Do words have no meaning any more?” It was Trump who put the $10,000 cap on Salt, doubtless for partisan reasons — to punish rich liberals in Democratic states. He was already shifting his domicile to Florida. Many rich New Yorkers followed suit in the pandemic. Scrapping that cap would not make Democrats anti-Trump. It would just make them pro-rich.
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But it is also important to stress what it would not do. By raising the tax on capital gains only slightly and opting not to tax asset appreciation on inheritance, it would leave America’s plutocratic reality in place. The ratio of billionaires’ wealth has risen by a third to 19 per cent of gross domestic product since the start of the pandemic. Now is the ripest opportunity in a long time to redress America’s late Rome-style inequality. The fact that Democrats are so timid speaks volumes.
https://www.ft.com/content/e57ce343-f01a-46b6-9b1c-ec007c6b1843
This sentence marks the seriocomic point of the Luce’s essay:
By raising the tax on capital gains only slightly and opting not to tax asset appreciation on inheritance, it would leave America’s plutocratic reality in place.
Luce is a life long beneficiary of the British Class system!
Old Socialist