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A comment on Income inequality today may be higher today than in any other era. Parent comment

Re:Income inequality today may be higher today than in any o... by yummyfajitas on Saturday July 02, 2016 @11:56AM (#12022941)
I'm confused. Flint lacks tax revenue due to having nothing of value to tax. How did the "plutocrats" drain wealth from Flint if Flint doesn't have any?

Wikipedia suggests Flint has had a budget deficit for many years. That means wealth is flowing into Flint, not out.

https://en.wikipedia.org/wiki/Flint,_Michigan#First_financia...

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Re:Income inequality today may be higher today than in any o... by TheOtherHobbes on Saturday July 02, 2016 @03:13PM (#12023499)
No, it just means the wealth flowed out of Flint without being taxed or invested locally.

That's what oligopolies do. In a sane system a single large employer would have to contribute to building a self-sustaining independent ecosystem of businesses in an area, instead of being allowed to extract profit and then leave when there's more profit to be made elsewhere.

Monocultures are an unworkable idea with toxic effects in economics just as much as they are in nature.

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Re:Income inequality today may be higher today than in any o... by yummyfajitas on Saturday July 02, 2016 @10:03PM (#12024538)
So your complaint is that GM did business in Flint, and then stopped? That's very far from taking wealth out of Flint.

It's a lot more like putting a lot of wealth in, but then not putting more in.

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