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Political Information Last Updated: Jan 19, 2022 - 5:26:20 PM


Money From Home: Richest US Families Keep Wealth To Themselves Instead of Generating More, study reveals
By Russia Today with comments by Ron
Jun 26, 2021 - 3:10:42 AM

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https://www.rt.com/usa/527309-rich-get-richer-charity-fail/

23 Jun, 2021
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Money from home: Richest US families keep wealth to themselves instead of generating more, study reveals

FILE PHOTO. ©  Reuters / Rick Wilking

Follow RT onRTA majority of the richest American families have opted to hold their assets rather than create new wealth, according to a survey from the Institute for Policy Studies, which tried to discern how rich families keep their riches.

Titled "Silver Spoon Oligarchs," the new study showed how the top 0.01% richest Americans retained their wealth in spite of what are supposed to be high taxes levied on the ultra-wealthy. Spoiler alert: they aren't producing useful goods, running factories, creating jobs, or any of that nonsense - they're hoarding what they have and cashing in on the capital gains from their parents' or other ancestral estates.

Thanks to the US tax structure, which heavily favors the beneficiaries of inherited wealth, the scions of rich families have had no trouble cultivating their hoards in full view of the tax man. The tax structure of the US has mutated over the last three decades to favor the rich even more than it did previously, putting the lie to the myth of a "trickle down" economy. Money in the US doesn't just trickle up - it gushes upward with the force of a geyser.

ALSO ON RT.COMJeff Bezos overtakes Elon Musk to reclaim world's richest person title

"America's dynastic families, both old and new, are deploying a range of wealth preservation strategies to further concentrate wealth and power - power that is deployed to influence democratic institutions, depress civic imagination, and rig the rules to further entrench inequality,"

[Ron: The primary wealth preservation method used by the uber wealthy are their tax free foundations pioneered by John D Rockefeller. The methods of the less wealthy are many and varied. See eg: How Interlinked Corporations Rule The World http://abundanthope.net/pages/Political_Information_43/How-Interlinked-Corporations-Rule-The-World.shtml

The Hidden-in-Plain-Sight Mechanism of the Super-Wealthy: Money-Laundering 2.0. See: http://abundanthope.net/pages/Political_Information_43/The-Hidden-in-Plain-Sight-Mechanism-of-the-Super-Wealthy-Money-Laundering-2-0.shtml

Leaked IRS Data Show America's Super-Rich Pay "True Tax" Of 3.4% - http://abundanthope.net/pages/Political_Information_43/Leaked-IRS-Data-Show-America-s-Super-Rich-Pay-True-Tax-Of-3-4.shtml

Corporate Transnational Warlord Pirates Are On the Run- Vanguard - http://abundanthope.net/pages/True_US_History_108/Corporate-Transnational-Warlord-Pirates-Are-On-the-Run--Vanguard.shtml

The corporate stranglehold on food and agriculture. - http://abundanthope.net/pages/Health_and_Nutrition_37/The-corporate-stranglehold-on-food-and-agriculture.shtml

How Billionaires Become Billionaires -- http://abundanthope.net/pages/Political_Information_43/How-Billionaires-Become-Billionaires.shtml

Which Companies Have The Most Tax Havens? - http://abundanthope.net/pages/Political_Information_43/Which-Companies-Have-The-Most-Tax-Havens.shtml

How Did CEO Pay Get to 500 Times the Wages of Ordinary Workers? - http://abundanthope.net/pages/Human_Animal_Rights_104/How-did-CEO-Pay-Get-to-500-Times-the-Wages-of-Ordinary-Workers.shtml

the report declared, warning that "this tax avoidance means less support for the infrastructure we all rely on to preserve our health, safety, and quality of life."

[Ron: The debate about tax avoidance is a deliberate 'smoke and mirrors' diversion of attention away from the core problem. US money did not lose value causing price inflation (ie devaluation of the value of money) until the banksters foisted the Federal Reserve System (the Fed) upon the US at Christmass time in 1913. That resulted in the creation of the Internal Revenue Service (IRS) when Congress legislated to levy Federal income taxation to pay interest charged by the Fed for currency that Congress started to borrow from the Fed instead of authorising the US Treasury to issue money as required by the US Constitution.

The underlying cause of inflation, ie the reduction in the "value" of money or currency, is usury combined with the fractional reserve banking system. Inflation results from the imposition of interest charges (usury) on the provision of fiat debt tokens fraudulently issued electronically out of thin air and called "money"; AND the fact that about 97% of all "money" in circulation is issued by private banks using the fractional reserve loan process under which they purport to loan at least nine times more currency than they hold. Moreover, the banks issue loan amounts subject to interest payments but NEVER create or issue any currency to pay the interest charged on the currency loaned.

By far the biggest "TAX" on everyone except the super rich has been usury, the interest rates charged by the private banksters (ie, the people who form the core of globalist super rich families). Until the current fiat currency (debt token) monetary system started to collapse in recent years causing interest rates to head towards zero, usury probably extracted about 40% of all the productivity of most societies on this planet. Why? Because interest was extracted across all societal activities, enabling interest to be charged multiple times throughout the economic activity spectrum. On this issue Anthony Migchels says: 'As we know, today 40% of prices is Usury passed on by producers.' - A Crucial Lesson Of History: Why Do We Have Usury? - https://realcurrencies.wordpress.com/

IMO Migchels rightly states that: Usury prohibition is not enough: interest-free credit is needed, or there will be bottlenecks in economic development.

It will help to have the Government print debt free money, but there will still be a need for credit in the economy, and debt cannot be entirely avoided. Especially in industry and commerce.

And there is no need to entirely avoid it, because we can simply create all the credit we need in the same way banks do today, but without the Usury.

The solution to interest on loans of money is not to end credit, but to have no interest on loans of money.

However, assuming that, apart from directly financing infrastructure and public services, governments also issue interest free loans for industrial and commercial purposes, it is essential that the activities of enterprises receiving such credit MUST operate in the public interest and make all excess enterprise profits available for community purposes.

In addition to wealth extracted from the community by usury, governments like the US corporation, the UK corporation, the Commonwealth of Australia corporation and many others,  are covertly owned and controlled by the banksters and those governments levy personal income taxes and other taxes, licence fees and charges to pay interest on bank loans. Those government levies extract another 40% of global productivity. Sooo, can you guess why this planet is a dystopia ravaged by poverty with most people competing in a race to the bottom and destitution, such that they have become open to the Universal Basic Income (UBI) scam? For a discussion of UBI see my comments in: A Universal Basic Income Is Essential and Will Work http://abundanthope.net/pages/True_US_History_108/A-Universal-Basic-Income-Is-Essential-and-Will-Work.shtml

The root of the problem is the money meme itself. The money meme was foisted on humanity many millennia ago by demonic forces as a means for controlling and enslaving humans on this planet. Humans here have been socially engineered to believe that money, or fiat debt tokens called currency which banksters pretend is money, is essential for human life and societal existance. It isn't.

All of the needs of human societies are actually met by the exercise of human ingenuity and labour using the physical, God given resources made freely available by this planet. The money meme is a fiction that only exists due to its acceptance by the population. A spiritually mature human population does not need this mechanism which is, at best, cumbersome and creates much unnecessay work in accountancy and other activities, even if usury is not involved.

A major downside of the money meme is that its use creates a tendency for materialist thinking and it encourages people to hoard money in order to erroneously feel secure and/or to give them power over other people. Real security is created by spiritual individual and community living in which everyone seeks to serve others more than self as is typical in loving families, extended families, clans and tribes.

Once Presidents, Trump, Putin and Xi and their global Alliance supporters eliminate the demonically controlled banksters and Deep State elements in this world who have controlled its monetary and banking systems, we can eliminate usury and begin to wean the population off thinking they need money to live.

Whatever is used for "money" is merely a lubricant; a means to facilitate the production and exchange of goods and services. IF governments issue interest free "money" to buy goods and services to build a road or a hospital or to pay health care workers etc, some tangible good or usful service is produced. Those being paid money for producing those tangible goods and services can then exchange their money tokens for goods and services produced by others. In a healthy economy where the government issues enough interest free money to ensure full employment and money dispersal, everyone can acquire and use that money to obtain other goods and services. The net result is a rapid transfer of money as people use it. IF money is issued interest free there is no reason to hoard it and that increases the rate (VELOCITY) at which it circulates which begets further activity and so on.

Our current dysfunctional global economy is due to the fact that private banksters have been granted an EXCLUSIVE, free,  uncontrolled and unaudited licence to create and distribute currency, ie fiat debt tokens, fraudulently called money. Moreover, that exclusive monopoly on so-called money creation, supply and distribution, is guaranteed by governments using FORCE AND VIOLENCE to require everyone to use that privately created counterfeit "money". To top it off, for over a century the banksters have routinely and  grossly abused their monopoly for personal profit.

The current fiat debt token currency system is dysfunctional and certain to collapse. WHY? Because the banksters charge interest (usury) on the currency they create out of thin air to fraudulently "lend" to everyone while at the same time they do not create any currency (money) to pay that interest. Accordingly, there is always a shortage of 'money' in the system which can only be remedied by creating more loans which, in turn, require interest payments but the currency for those interest payments is NEVER issued. Eventually the system MUST collapse because the population reaches a point where it cannot afford to pay interest on any more loans. Such systems usually collapse in 45-50 years. The current Petro-dollar system is 50 years old.

To solve this planet's current problems arising from monetary policies and usurious banking; money creation must be removed from control by private banksters and exercised by public community organisations that are properly constituted, supervised and audited. Moreover, money must be created and distributed interest (usury) free so that there is no incentive to hoard it or to use it to manipulate and control other people.

Once global governments accept sole responsibility for the honest creation and issuance, for value, of money to be used as legal tender in the acquisition of goods and services within their jurisdictions, while ceasing to give free (or any) licences to private banksters to create and issue currency, the whole argument about needing to tax incomes and/or to borrow from the private sector, becomes redundant.

Economic welfare and community productivity is only forgone when private banksters charge interest (usury) for issuing currency. That injury to community welfare and productivity is increased when banksters curtail the amount of currency in circulation which they do periodically by restricting the issuance of loans or by hiking interest rates so that fewer borrowers are able to afford to pay the interest demanded. Banksters do this this regularly in order to create recessions or depressions which enable them to foreclose on loans and they, or their corporate brethren, obtain land, houses and property for pennies on the dollar. The banksters conceal this truth by getting governments, the MSM and the commercial and "economics" commentariat to pretend that the resultant BOOM/BUST cycle is a necessary part of the business cycle and hence a natural adjuct to commercial life. It isn't!

IF governments (however described) issue interest free asset backed money to pay for goods and services, and credit for necessary private enterprises, they can issue sufficient money to ensure such FULL EMPLOYMENT as the communuty requires thus avoiding the need for commercial banking, Big Government, Welfare State mechanisms, and UBI etc.

This positive scenario is about to occur. On 5 February 2019 Christ Michael Aton (CM), the creator of this planet and local universe, decreed the commencement of his Millennial Reign here. CM was a dual incarnation with Esu Immanuel Kumara, one of his sons, when they overshadowing Christ Jesus 2000 years ago. He has returned to Gaia to reclaim her from the demonic Luciferians banksters who, as servants of the demons, have controlled and enslaved this planet and its inhabitants for centuries.

CM has tasked the Triodity of Presidents Trump, Putin and Xi and their Alliance supporters around the world to eliminate the globalist bankster cabal which will effectively eliminate the demons who have been directing them to harvest negative human energies which the demons feed upon. Their elimination will usher Gaia into CM's Millennial Reign along with all of her human inhabitants who seek to serve others more than self.

Accordingly, the US and all nations around the world will shortly be entering into a totally new, warfare free environment in which international co-operation rather than violent opposition, competition and alienation will become the norm.

After President Trump is affirmed as the legitimate president of a new or reactivated Republic of the united states of America, public disclosures about the globalist cabal's demonic and grossly criminal and murderous activities and its impoverishment and enslavement of the global population, including suppression of the inventions and discoveries of Nikola Tesla and others, will occur.

To free USans and everyone from enslavement by demons and their globalist bankster minions it has been necessary to eliminate the US and UK corporations, the Vatican and the Federal Reserve System (the Fed) corporations and all Rothschilds' controlled Central banks globally and to replace them with a global Quantum Financial System (QFS) under which the US and every nation will be responsible for issuing gold backed money and currency in their respective jurisdictions. This initiative has been undertaken by the Trump administration and its global Alliance allies under the guidance of the Office of the International Treasury Controller.

The monetary system reset in the US will be part of a global QFS Reset. That Reset is being organised by the International Treasury Controller who has begun the process of agreeing, with all countries in the world, the "Pegging" of their currency to a replacement for the Petro Dollar which will be the INTERNATIONAL GOLD BACKED GLOBEC CURRENCY which will be used for international trading. That process will establish the value of each national currency vis-a-vis the Globec which will initiate global monetary stability and result in the the currency markets which being abolished. That process has involved the collection of numerous details and data so that a real and practical value can be assessed for each currency and agreed with the applicable country. See: DAVID CRAYFORD ---------- IT'S TIME THAT SOMEONE STARTED KICKING ASS SO THAT CHANGES TO THE CURRENT FINANCIAL SYSTEM CAN BE MADE TO BENEFIT EVERYONE, NOT THE MINORITY - http://abundanthope.net/pages/Whistleblower_and_OITC_114/DAVID-STARTED-KICKING-ASS-SO-THAT-CHANGES-TO-THE-CURRENT-FINANCIAL-SYSTEM-CAN-BE-MADE-TO-BENEFIT-EVERYONE-NOT-THE-MINORITY

The QFS Reset may not be completed until after the coming Magnetic Reversal STAND STILL, and stasis period. It will transform social and economic life on this planet. Problems associated with commercial banking and usury as we know them will be gone. Sovereign National Treasuries will issue all local money and currency on a usury free basis. Also, the QFS will include an unhackable gold and asset backed crypto money system. The elimination of usury will eliminate income taxation and pave the way for global prosperity and abundance. Gross inequality and poverty will be elimnated very quickly. This planet and its remaining inhabitants will then be ensconced in CM's Millennial Reign.

Accordingly those who seek to hasten the coming new world of freedom and abundance should now turn their attention and positive focus to visualising the loving, peaceful, harmonious and abundant global environment they wish to see. Dwelling upon the misery and machinations of the past and fearing the future as this author is doing, will merely create low personal vibrations and the resultant lower energetic frequencies impede the manifestation of the higher vibrational world we all desire. Once enough people look forward to our impending loving and abundant future, it will manifest.

The reason that transition to Quantum global governance and the QFS is taking so long to manifest is that humans need to develop genuine spiritual values and attitudes. Spiritual values are needed to eliminate the tendencies that create materialism and banksterism. To enable the Millennial Reign to take hold a critical mass of humans needs to develop higher consciousness, ie a genuinely spiritual, fear-free state of mind, to enable the Millennial Reign to take hold. Higher consciousness will ensure that we never allow banksterism and materialism to rule our world again. Eventually it will also enable us to let go of the money meme and live without money.].

 

Given that the vast majority of political donors sit amongst the top 0.01%, it's hard to imagine politicians becoming genuinely concerned about the detrimental effect of the obscene wealth transfer on the American people. Not only did the US tax code gradually evolve to better suit the wealthy over the last half-century, but of the top 50 wealthiest families listed in Forbes last year, 27 had also been on the magazine's list of 400 wealthiest families since at least 1983. Groups like Oxfam have been sounding the alarm about this issue for years - only to be largely ignored. Who wants to spoil the party, after all?

The 27 "dynastic families" in question have seen their wealth mushroom at ten times the rate of regular families over the past 37 years, exploding a whopping 1,007% from $80.2 billion to $903.2 billion, adjusted for inflation. Meanwhile, the taxes paid by the wealthiest 0.01% of American billionaires dropped - factoring in inflation - a whopping 79% as a percentage of those oligarchs' wealth.

[Ron: The debate about tax avoidance is largely a deliberate 'smoke and mirrors' diversion of attention away from the core problem. For instance federal income taxation did not commence in the US until the banksters foisted the Federal Reserve system (the Fed) upon the US in 1913.

By far the biggest "TAX" on everyone except the super rich has been usury, the interest rates charged by the private banksters (ie, the people who form the core of globalist super rich families). Until the current fiat currency (debt token) monetary system started to collapse in recnt years, usury probably extracted about 40% of all the productivity of most societies on this planet. In addition  personal income taxes and other taxes, licence fees and charges levied by governments covertly owned and controlled by the banksters extracted another 40% of global productivity. Sooo, can you guess the reason why most people are in a race to the bottom and total poverty in our world?!

 

 

 

ALSO ON RT.COMAmerica's richest 1% owns 40% of country's wealth - study

Think your friends would be interested? Share this story !

 

 

 

Given that the vast majority of political donors sit amongst the top 0.01%, it's hard to imagine politicians becoming genuinely concerned about the detrimental effect of the obscene wealth transfer on the American people. Not only did the US tax code gradually evolve to better suit the wealthy over the last half-century, but of the top 50 wealthiest families listed in Forbes last year, 27 had also been on the magazine's list of 400 wealthiest families since at least 1983. Groups like Oxfam have been sounding the alarm about this issue for years - only to be largely ignored. Who wants to spoil the party, after all?

The 27 "dynastic families" in question have seen their wealth mushroom at ten times the rate of regular families over the past 37 years, exploding a whopping 1,007% from $80.2 billion to $903.2 billion, adjusted for inflation. Meanwhile, the taxes paid by the wealthiest 0.01% of American billionaires dropped - factoring in inflation - a whopping 79% as a percentage of those oligarchs' wealth.

ALSO ON RT.COMAmerica's richest 1% owns 40% of country's wealth - study

Think your friends would be interested? Share this story !

 

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