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Wealth Against Commonwealth by Henry Demarest Lloyd, first published in 1963, is a rare manuscript, the original residing in one of the great libraries of the world. This book is a reproduction of that original, which has been scanned and cleaned by state-of-the-art publishing tools for better readability and enhanced appreciation. Restoration Editors' mission is to bring long out of print manuscripts back to life. Some smudges, annotations or unclear text may still exist, due to permanent damage to the original work. We believe the literary significance of the text justifies offering this reproduction, allowing a new generation to appreciate it.
The ‘Man Bites Dog’ story of over 1,000 high net-worth individuals who rose up to protest the repeal of the estate tax made headlines everywhere last year. Central to the organization of what Newsweek tagged the ‘billionaire backlash’ were two visionaries: Bill Gates, Sr., cochair of the Bill and Melinda Gates Foundation, the largest foundation on earth, and Chuck Collins, cofounder of United for a Fair Economy and Responsible Wealth, and the great-grandson of meat packer Oscar Mayer who gave away his substantial inheritance at the age of twenty-six. Gates and Collins argue that individual wealth is a product not only of hard work and smart choices but of the society that provides the fertile soil for success. They don‘t subscribe to the ‘Great Man’ theory of wealth creation but contend that society‘s investments, such as economic development, education, health care, and property rights protection, all contribute to any individual‘s good fortune. With the repeal proposed by the Bush administration, we might be facing the future that Teddy Roosevelt feared—where huge fortunes amassed and untaxed would evolve into a dangerous and permanent aristocracy. Repeal would drop federal revenues $294 billion in the first 10 years; 27 some $750 billion would be lost in the second decade, not to mention that the U.S. Treasury estimates that charitable contributions would drop by $6 billion a year. But what about all those modest families that would lose the farm? Gates and Collins expose the fallacy of this argument, pointing out that this is largely a myth and that the very same lobbies and politicians who are crying ‘cows’ have opposed other legislation that would actually have helped small farmers. Weaving in personal narratives, history, and plenty of solid economic sense, Gates and Collins make a sound and compelling case for tax reform, not repeal.
Assessment of the environmental degradation, rapid population growth, and extreme poverty that threaten global peace and prosperity, with practical solutions based on a new economic paradigm for our crowded planet.
Reproduction of the original.
George's Progress and Poverty, Bellamy's Looking Backward, and Lloyd's Wealth against Commonwealth championed a national policy allied neither with large-scale capitalism, nor with bureaucratic socialism. Through vivid portraits of these journalists, Thomas traces the evolving ideologies of the most significant reformers of their age.
“Exquisite. . .Commonwealth is impossible to put down.” — New York Times #1 New York Times Bestseller | NBCC Award Finalist | New York Times Best Book of the Year | USA Today Best Book | TIME Magazine Top 10 Selection | Oprah Favorite Book | New York Magazine Best Book of The Year The acclaimed, bestselling author—winner of the PEN/Faulkner Award and the Orange Prize—tells the enthralling story of how an unexpected romantic encounter irrevocably changes two families’ lives. One Sunday afternoon in Southern California, Bert Cousins shows up at Franny Keating’s christening party uninvited. Before evening falls, he has kissed Franny’s mother, Beverly—thus setting in motion the dissolution of their marriages and the joining of two families. Spanning five decades, Commonwealth explores how this chance encounter reverberates through the lives of the four parents and six children involved. Spending summers together in Virginia, the Keating and Cousins children forge a lasting bond that is based on a shared disillusionment with their parents and the strange and genuine affection that grows up between them. When, in her twenties, Franny begins an affair with the legendary author Leon Posen and tells him about her family, the story of her siblings is no longer hers to control. Their childhood becomes the basis for his wildly successful book, ultimately forcing them to come to terms with their losses, their guilt, and the deeply loyal connection they feel for one another. Told with equal measures of humor and heartbreak, Commonwealth is a meditation on inspiration, interpretation, and the ownership of stories. It is a brilliant and tender tale of the far-reaching ties of love and responsibility that bind us together.