Monday, July 30, 2007

So maybe not in my lifetime but it's coming

I was reading this article on AlterNet this morning and somehow it was a bit encouraging to me, that people like Gates and Buffett have a conscience. Read the rest of the article if you are so inclined. It's interesting

http://www.alternet.org/stories/57727/

But this is not just a world of riches gone mad that the rest of America can ignore. The growth of such a large super-rich class, coupled with a deepening poverty in many communities, is starting to tear at the fabric of society. Even some of the most wealthy -- like Gates and Buffett -- have spoken openly of the needs to address the massive "inequality gap" that they have come to exemplify. In effect, some of the very richest Americans are calling for themselves to be taxed. In a speech last month Buffett -- the third richest man in the world -- pointed out that his tax rate was 17.7 per cent of his income while his secretary was taxed at 30 per cent. "Many of the new super-rich are looking long term at the world and they see a collapsing US education system and health-care system and the disappearance of the middle class and they realize: this is bad for everybody," said Frank.

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