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  1. says:

    THE FERAL FILTHY RICHLinda Mcuaig and Neil Brooks's The Trouble With Billionaires is a superb analysis of the growing levels of ineuality in the UK over the last thirty odd years As the title suggests their focus is on the higher end of the income scale the political decisions that have allowed a few to accumulate perverse levels of wealth and the myths that have allowed this state of affairs to gain a degree of legitimacy in the public sphereEarly chapters give an idea of the scale of the problem Top 1% of UK earners share of total income rising from around 6% in the mid 1970's to over 15% by the time of the Credit Crunch remind us that free markets are generally anything but not least with regards to the uestion of executive pay where executives sit on one another's remuneration committees and discover that yes they are worth double digit salary increases year after year after year regardless of company performanceThe 3rd chapter Paying for a Civilised Society takes a step sideways to look at tax and spending providing statistical proof that there is no correlation between levels of taxation and economic growth thus demolishing the myths that increasing taxation on the rich will cause the economy to tank And while there is no correlation negative or positive between taxation and economic growth the authors do assemble evidence to suggest that there is a correlation between higher taxes and increased euality gender euality economic security of workers social well being and lower child mortality amongst other measures And make the point that the lower tax narrative whatever has been said at the rhetorical level is essentially about reducing taxation on the richChapter 4 Plutocracy Climate Change and the Fate of the World is the books weakest The comparison pushed that the CFCOzone problem was solved in less neo liberal times while the Greenhouse gasGlobal warming problem has been or less stalled during the high tide of neo liberalism doesn't really hold up the interests holding up action on Global Warming eg Oil industry including oil producing countries automobile industry etc are so much larger than the handful of chemical companies primarily involved in producing CFC's A better approach might have been to tackle the influence of big money in the political process using the example of Global Warming as one amongst manyThe 5th and 6th Chapters move on to demolishing the myths of the self made billionaires firmly situating their wealth accumulation in its social economic and political context making the point that they are getting off relatively speaking scot free with regard to returning something tax to the societies that there business empires have been built upon Chapter 7 considers the uestion of motivation and undermines the conventional wisdom that large sums of money are reuired to incentivise excellence whether in sport business or public serviceChapter 8 John Maynard Keynes and the Defeat of Austerity takes a look at the period of destructive interwar austerity and how Keynesian economics developed and provided a solid foundation for capitalisms post war golden age which included a significant lessening of ineuality and some of the highest if not the highest rates of economic growth amongst mature industrial economies and not incidentally was a period of relatively high growth for many developing countries Chapter 9 focusses on the Triumph of the Welfare State in the early post war period 1945 1970's as well as the forces such as the perversely rich funders of the Institute of Economic Affairs in the UK and globally the Mont Pelerin society who staged the long fight back for the liberal economic ideas that took root in the 1970's and beyond The book ends by looking at a number of policies that would reduce the grotesue ineualities that have arisen over the last thirty or so yearsMcuaig and Brooks have written an excellent book that achieves a number of worthwhile aims not least the undermining of the low tax low government spending nonsense propagated by the current coalition government on the grounds that this self serving belief claims as its own economic efficiency It also holds its own against other books about our current social political economic situation such as Nicholas Shaxsons Treasure Islands Tax Havens and the Men who Stole the World Pickett Wilkinsons The Spirit Level Why Euality is Better for Everyone and Richard Brooks's The Great Tax Robbery in providing the general reader with an accessible interesting angle on the major issues facing us a society that the mainstream media has almost completely avoided Well recommended


  2. says:

    This book came out one year before the launch of Occupy Wall Street and no doubt played a part in changing the political conversation in Canada and United States over the past two years As a result of the Occupy Movement some themes in the book are already old hat but still worth revisiting The case is well argued that our society was never built on euality is becoming less so over time and to our peril The crash of 2008 is similar to that of 1929 in that a surge in wealth concentration at the top preceded both; however the second instance does not come with a New Deal recovery plan Instead of the same medicine that produced 2008 is being applied The surprise ending invites us to imagine what we could do with our money if we wrested it away from the rich using simple taxation remedies if only we could convince ourselves that despite popular notions billionaires have no right to run the rest of us into the ground


  3. says:

    The take home message of this book is that after the Reagan Thatcher revolutions progressives recklessly abandoned their opposition to the maldistrubution of wealth in society As a result conservative neocons have controlled the anti tax anti government narrative since the 1980s The reckless financial misadventures of Wall Street over the past twenty years convince the author that it's time for progressives once again to voice opposition to the obscene concentration of wealth in the hands of an oligarchic minority and to promote rational progressive tax policy as a public good and a badge of citizenship I agree


  4. says:

    One of the most entertaining and provocative books I've read in a long time I loved it and every person I've shared it with has loved it too I want every person I know to read this book and to digest its contents before they vote in the Canadian federal election this fall For a detailed snapshot of what the book is about and why you should spend time reading it or better yet organize a book club to discuss its contents with other people I highly recommend this review written by Canadians for Tax Fairness Bottom line? This book could be a game changer for our democracy and our communities


  5. says:

    Excellent read tracing the growth of neoliberal policy Interesting points in 1911 wealthy businessman uietly got the US President Taft to allow banks to get into the stock market This deregulation of the financial sector led to the Roaring Twenties and ultimately the 1929 collapse The 20's had a lot of similarities to today Union and labor power was down meaning workers' wages didn't rise much which meant people couldn't afford to buy new goods which meant the corporations started playing money games instead of actually investing money into actual productive things in 1933 Roosevelt put in the Glass Steagall Act which kept the banks out of stock trading He also pushed the top marginal tax rate up to 79% during the postwar period 1945 1980 there was a egaltarian society and this ethos of public interest was prevalent the point is made that even billionaires like Bill Gates don't deserve their money In that case he was in the right place at the right time born to wealthy parents went to private schools that had a computer in the late 60's he built on all the technological societal advances to that point and he landed a deal with IBM by screwing over Gary Kiddall who actually built a better operating system we collectively pay for things like police services to enact laws Without a collective law abiding society the rich would not be able to make their huge profits There is much talk about the self made man but none of us are truly self made and self reliant in Scandanavia taxation is 50% and they also have a per capita GDP similar to the US However the per capita GDP is accurately an average because the massive billionaires in the US skew the results we don't actually have democracy We have an oligarchy where the rich are essentially running the show and using their money to put people into power who will create favorable laws for the rich


  6. says:

    The main point of this book is that income ineuality is bad It gives a historical perspective and makes the argument that current tax rates on the rich are too lowThe most interesting reasoning for why the rich should pay a disproportionately higher share of taxes relates to who benefits from the existing system the most Basically the rich need the system to maintain what they have and gain If the system were to disappear then we'd all be eual because we'd steal each others stuff and the notion of private ownership woudl be significantly shrunkOverall the book has some points considering and a few that seem a bit out there It's worth a read


  7. says:

    This book is worth reading if only to gain an appreciation of the staggering disparity between the middle class and the ultra rich There is something gravely wrong with an economic system that makes it possible for a handful of individuals to have greater wealth than many small countries


  8. says:

    This book made loads of interesting points but I think it was making too many arguments with too little focus The book would have benefited from focusing on one argument at a time in greater detail with greater focus on what someone who disagrees with her would say it would lead to a much better well rounded book Moreover her argument about Bill Gates not deserving his fortune fails because we can apply that logic to anybody on this planet and say that no one deserves anything they get no matter how small or huge their fortunes are Of course some people have argued this but intuitively this argument doesn't sit well with many and therefore I don't think it should be used as the primary case against some people having billions The better argument for this is to say that even though Bill Gates' fortune largely relies on the progress made by others and him being at the right place at the right time he still deserves some money for his accomplishments due to the business dealings he made The real problem and the point we have to put pressure on is whether he deserves 100 BILLION DOLLARS for it And the answer is no A 100 Billion is way too much for anybody to own or need in their live times No one in this world NEEDS 100 Billion to live even if they have the most luxurious lifestyles in the world The point here is that what is concerning about billionaires is that they have SO MUCH MONEY and Mcuaig's main arguments against it is not that convincing So Mcuaig's book is an interesting read but some of her argument fail and most of them are underdeveloped which left me wanting to seek knowledge about this topic somewhere else from someone who was focused and convincing


  9. says:

    Definitely a good read about how income ineuality is growing how the super rich are shaping public policy and perception to benefit them and only them and how some basic changes to taxation laws can help build the kind of society that we wantI really enjoyed this book and only knocked off a star because I think the authors could have done to make this book less academic and accessible to the average reader They definitely did a good job in some case studies for example explaining how Bill Gates does not deserve his fortune talking about money as motivation or non motivation for stories of human excellence like Hank Aaron and using pornography versus the traditional film industry to talk about how human laws shape the market and how it’s not actually free But large chunks of this book were pretty academic for instance talking about historical perspectives on citizenship and the common good where I think the theory could have been knocked down a notchThat said I would definitely recommend this book even though it’s now a decade out of date because of the historical perspectives it provides on wealth and ineuality Ten years after its publication I can only imagine how much worse the problem is now


  10. says:

    If you like watered down Cool Aid Socialism this is the book for youMcuaig basically tates that tax reform is the key to evening out the economic stratification that has grown over the last 50 years One must wonder however if the working class will benefit from tax reform at all when it will only be the same corrupt minority in charge of these extra taxes or if what we all need is a revolution to free us from the tyranny of corrupt governmentIn reflection of Rosa Luxemburg's Reform or Revolution she makes the case as to whether reformism is an end worth pursuing when all it does is accept the current structure and must work within the context of the same bureaucratic order and abide by parliamentary processes preventing most of us from playing meaningful roles in our civic responsibilities For instance our income tax policy book is over 2000 pages in Canada this essentially alienates the majority of the population that can never read this stuff no wonder either we are so dumbed down by education and other garbage that we could care less either which is also part of the problem Her ideas really remind me of Orwell's Animal Farm where the problem really came at the hands of the animals not claiming the revolution for themselves but they merely let bureaucracy continue and those animals that had control of this bureaucratic body did not make things any better for the animals on the farmAll this to say that Mcuaig's book provides us with a reformist policy that in the end isn't gonna do jack to change a thing If she wants real change we need to look at the system in which we operate


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The Trouble With Billionaires

READ & DOWNLOAD ç PDF, DOC, TXT or eBook ✓ Linda McQuaig

In this searing and entertaining indictment of the super rich Linda Mcuaig and Neil Brooks challenge the idea that today’s cavernous income ineuality is the result of merit and reveal how the global economic system has been hijacked by the wealthiest with disastrous conseuences for us allThe high taxes and strong s. THE FERAL FILTHY RICHLinda Mcuaig and Neil Brooks's The Trouble With Billionaires is a superb analysis of the growing levels of ineuality in the UK over the last thirty odd years As the title suggests their focus is on the higher end of the income scale the political decisions that have allowed a few to accumulate perverse levels of wealth and the myths that have allowed this state of affairs to gain a degree of legitimacy in the public sphereEarly chapters give an idea of the scale of the problem Top 1% of UK earners share of total income rising from around 6% in the mid 1970's to over 15% by the time of the Credit Crunch remind us that free markets are generally anything but not least with regards to the uestion of executive pay where executives sit on one another's remuneration committees and discover that yes they are worth double digit salary increases year after year after year regardless of company performanceThe 3rd chapter Paying for a Civilised Society takes a step sideways to look at tax and spending providing statistical proof that there is no correlation between levels of taxation and economic growth thus demolishing the myths that increasing taxation on the rich will cause the economy to tank And while there is no correlation negative or positive between taxation and economic growth the authors do assemble evidence to suggest that there is a correlation between higher taxes and increased euality gender euality economic security of workers social well being and lower child mortality amongst other measures And make the point that the lower tax narrative whatever has been said at the rhetorical level is essentially about reducing taxation on the richChapter 4 Plutocracy Climate Change and the Fate of the World is the books weakest The comparison pushed that the CFCOzone problem was solved in less neo liberal times while the Greenhouse gasGlobal warming problem has been or less stalled during the high tide of neo liberalism doesn't really hold up the interests holding up action on Global Warming eg Oil industry including oil producing countries automobile industry etc are so much larger than the handful of chemical companies primarily involved in producing CFC's A better approach might have been to tackle the influence of big money in the political process using the example of Global Warming as one amongst manyThe 5th and 6th Chapters move on to demolishing the myths of the self made billionaires firmly situating their wealth accumulation in its social economic and political context making the point that they are getting off relatively speaking scot free with regard to returning something tax to the societies that there business empires have been built upon Chapter 7 considers the uestion of motivation and undermines the conventional wisdom that large sums of money are reuired to incentivise excellence whether in sport business or public serviceChapter 8 John Maynard Keynes and the Defeat of Austerity takes a look at the period of destructive interwar austerity and how Keynesian economics developed and provided a solid foundation for capitalisms post war golden age which included a significant lessening of ineuality and some of the highest if not the highest rates of economic growth amongst mature industrial economies and not incidentally was a period of relatively high growth for many developing countries Chapter 9 focusses on the Triumph of the Welfare State in the early post war period 1945 1970's as well as the forces such as the perversely rich funders of the Institute of Economic Affairs in the UK and globally the Mont Pelerin society who staged the long fight back for the liberal economic ideas that took root in the 1970's and beyond The book ends by looking at a number of policies that would reduce the grotesue ineualities that have arisen over the last thirty or so yearsMcuaig and Brooks have written an excellent book that achieves a number of worthwhile aims not least the undermining of the low tax low government spending nonsense propagated by the current coalition government on the grounds that this self serving belief claims as its own economic efficiency It also holds its own against other books about our current social political economic situation such as Nicholas Shaxsons Treasure Islands Tax Havens and the Men who Stole the World Pickett Wilkinsons The Spirit Level Why Euality is Better for Everyone and Richard Brooks's The Great Tax Robbery in providing the general reader with an accessible interesting angle on the major issues facing us a society that the mainstream media has almost completely avoided Well recommended

FREE DOWNLOAD The Trouble With Billionaires

Societal outcomes – from health to the environment – they also fail to produce economic prosperityA daring challenge to the conventional wisdom The Trouble with Billionaires provides the most compelling case yet for rejecting the Coalition’s mean spirited mix of tax breaks for the rich and austerity for the res. Definitely a good read about how income ineuality is growing how the super rich are shaping public policy and perception to benefit them and only them and how some basic changes to taxation laws can help build the kind of society that we wantI really enjoyed this book and only knocked off a star because I think the authors could have done to make this book less academic and accessible to the average reader They definitely did a good job in some case studies for example explaining how Bill Gates does not deserve his fortune talking about money as motivation or non motivation for stories of human excellence like Hank Aaron and using pornography versus the traditional film industry to talk about how human laws shape the market and how it’s not actually free But large chunks of this book were pretty academic for instance talking about historical perspectives on citizenship and the common good where I think the theory could have been knocked down a notchThat said I would definitely recommend this book even though it’s now a decade out of date because of the historical perspectives it provides on wealth and ineuality Ten years after its publication I can only imagine how much worse the problem is now

READ & DOWNLOAD ç PDF, DOC, TXT or eBook ✓ Linda McQuaig

Ocial programmes of the 1950s ‘60s and ‘70s gave us sky high economic growth and rising euality In recent years however we’ve been constantly told that taxes and government spending are bad Mcuaig and Brooks systematically debunk these claims As their research shows not only do lower taxes correlate with worse. The main point of this book is that income ineuality is bad It gives a historical perspective and makes the argument that current tax rates on the rich are too lowThe most interesting reasoning for why the rich should pay a disproportionately higher share of taxes relates to who benefits from the existing system the most Basically the rich need the system to maintain what they have and gain If the system were to disappear then we'd all be eual because we'd steal each others stuff and the notion of private ownership woudl be significantly shrunkOverall the book has some points considering and a few that seem a bit out there It's worth a read

  • Paperback
  • 272
  • The Trouble With Billionaires
  • Linda McQuaig
  • English
  • 22 April 2018
  • null

About the Author: Linda McQuaig

Described as ‘Canada’s Michael Moore’ by the country’s National Post Linda Mcuaig is an award winning investigative reporter and columnist for the Toronto Star She is the author of seven Canadian bestsellers which have earned her a reputation as a fierce critic of the establishment