Giving Tuesday 2025
Don't you know
Talkin' 'bout a revolution
It sounds like a whisper
Poor people gonna rise up
And get their share
Poor people gonna rise up
And take what's theirs
Cause finally the tables are starting to turn
Talkin' bout a revolution
--Tracy Chapman - Talkin' bout a Revolution (1988) .
On April 5th, 2019, former hedge fund manager Ray Dalio published 'Why and How Capitalism Needs to be Reformed'. It was intended to be a wakeup call to our political leaders to reign in capitalism. I referenced it in my newsletter Revolution, Taxes or War. Simply put, our economic system values profits over people. The middle class has eroded by generations of government leaders who have prioritized corporations and money over their constituents. The result is the greatest divide between the ‘haves and have nots’ in modern history. The top 10% owns 90% of stock market wealth, the top 1% alone, owns 50%. Meta, the company formerly known as Facebook, reported in their most recent earnings report that they expect their effective tax rate to be 12-15% in the coming quarters. How much better off would you be if your effective tax rate was 12-15%? President trump’s big brutal bill makes permanent the corporate tax cuts enacted in 2017. It will cost us in excess of $4,000,000,000,000 over the next decade according to the Congressional Budget Office. For perspective, 4 trillion seconds equates to about 126,720 years (a million seconds is about 11 ½ days). The $1 trillion in reduced spending in the bill is due to cuts to Medicaid and the government’s food stamp program (SNAP), both of which assist the poorest among us. The cruel bill is kerosene on the fire of income inequality.
“Debbie (my longtime assistant) works just as hard as I do and she pays twice the (tax) rate I pay. I think that’s outrageous. I don’t pay hardly any payroll taxes…Debbie pays lots of payroll taxes.”
Thanks in large part to Citizens United, money has corrupted politics. Our leaders don’t represent us, the people, they represent the S&P 500. At least Nascar drivers are transparent:
Today is Giving Tuesday. A day to celebrate generosity, unity, and community action. Hamilton Wealth donated $35,000 to the following foodbanks located in our clients’ communities:
I am humbled and inspired by the massive charitable donations from Bill Gates and Michael and Susan Dell.
We are not a public corporation; we represent you, not shareholders. We understand how lucky we are to be in a position to help the less fortunate. We can’t act on empathy and be charitable without your support. It is not lost on me that the capitalism that I rail against, is the same system that we employ to build our wealth. However, I believe we can build a more equitable balance with the right leadership. There are 333 days until the midterm elections.
As we watch the federal government attack the poor, immigrants, trans kids, and other marginalized groups, we believe we have a civic duty to do our small part. Recently, Ray Dalio has been warning that the United States is on the path to civil war. Instead of war, lets choose civility…at least today.
Thank you!
-randy and everyone at hamilton wealth
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