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The Founding Fathers Backed Thomas Piketty--And Feared a Powerful 1 Percent

US Politics & Gov't  (tags: usa, Founding Fathers, middle class, inequality, profit sharing, tax incentives, tax reform, capitalism, crony capitalism )

- 1839 days ago -
Many of America's Founders believed that excessive wealth inequality would be incompatible with having a representative republic. They did not expect wealth to be identically distributed, but many did envision a thriving middle class ...


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Lynn Squance (235)
Saturday July 5, 2014, 1:04 pm
There are so many people saying "The Founding Fathers this or the Founding Fathers that ..." and many are so wrong based on the evidence in the Constitution and in other sources. I found this article to be very good and it reminded me of some of the articles that Care2 member Michael Dewey posted about coöperatives etc.

"John Adams wrote if landed property was broadly distributed, so would be political power and the conflict between a majoritarian political system and wealth concentration could be lessened...."

Adams and other presidents clearly believed in the middle class as the strength of the nation. And what is disappearing now? . . . the middle class! Perhaps it is time to adopt some of the true ideas of the Founding Fathers and not the right wings interpretation of same.

Richard S (209)
Saturday July 5, 2014, 1:15 pm
Thanks very much Lynn for posting. Yes, indeed, it is well past time to support strengthening the middle class and abandoning selfish and self-serving right-wing ideology. The right wing interpretations aren't even consistent, but entirely result oriented

See aslo::

Sue Matheson (79)
Saturday July 5, 2014, 1:43 pm

Carrie B (306)
Saturday July 5, 2014, 6:33 pm
Didn't I post this yesterday?

Ismail Al ahmad (169)
Sunday July 6, 2014, 12:57 am
Noted, Thank you my friend Lynn

Tina F (113)
Sunday July 6, 2014, 1:48 am
Noted! Thanks Lynn!

Lady Suki (446)
Sunday July 6, 2014, 7:54 am
I believe that the History Channel once said that while the Founding Fathers were comfortable, they wouldn't considered mega rich by today's standards, even when you adjust for inflation.

In fact, many of them who held the presidency, later went into major debt because of it. I think Thomas Jefferson was something like 20,000 or 30,000 in debt at the time of his death, which was a huge chunk of change back then.

Lona G (66)
Sunday July 6, 2014, 9:38 am
The Founding Fathers were fearful of excessive wealth inequality and rightly so because they knew what it was doing to Europe, all the signs of the French Revolution two tears after John Adams published his book were there for them to see. At that time the wealth inequality wasn't even as large as it is now, the 1% has 'come of age' only in the last decade or so.
It just makes you wonder why they saw so clearly what needed to be done and why certain parties mow just refuse to take their blinders off.

Julie C (29)
Sunday July 6, 2014, 10:22 am

Sheri Schongold (7)
Sunday July 6, 2014, 12:48 pm
Isn't it interesting to see that the fears of our forefathers are coming true? It's scary.

Birgit W (160)
Sunday July 6, 2014, 1:23 pm
Noted, thanks.

Lois Jordan (63)
Sunday July 6, 2014, 2:25 pm
Noted w/thanks for posting, Lynn.

Past Member (0)
Sunday July 6, 2014, 2:37 pm
Another great article. Noted and thanks

JL A (281)
Sunday July 6, 2014, 3:32 pm
Great thinkers of every age have tended to express concerns about wealth inequalities. thanks Lynn.

Rosa Caldwell (384)
Sunday July 6, 2014, 7:12 pm

Monday July 7, 2014, 12:57 am
Noted. Thanks Lynn

Winn A (179)
Monday July 7, 2014, 7:19 am
Great article - Thanks Lynn

SusanAWAY A (219)
Monday July 7, 2014, 8:34 am
Noted and shared

Lynn Squance (235)
Friday July 11, 2014, 8:26 pm
Thanks everyone.

I think everyone who engages in critical, balanced thinking in philosophical matters comes to the conclusion that with great wealth comes great responsibility, and few embrace that responsibility without their own personal agenda.
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