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Only the Rich Can Play
- How Washington Works in the New Gilded Age
- Narrated by: Fred Berman
- Length: 8 hrs and 51 mins
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Publisher's summary
In a Winners Take All meets This Town narrative, a New York Times best-selling author tells the story of the creation of a massive tax break, in which political and economic elites attend to the care and feeding of the super-rich, and inequality compounds.
David Wessel's incredible tale of how Washington works - and why the rich keep getting richer - starts when a Silicon Valley entrepreneur develops an idea intended as a way to help poor people that will save rich people money on their taxes. He organizes and pays for an effective lobbying effort that pushes his idea into law with little scrutiny or fine-tuning by congressional or Treasury tax experts - and few safeguards against abuse. With an unbeatable pair of high-profile sponsors, bumper-sticker simplicity, and deft political marketing, the Opportunity Zone became an unnoticed part of the 2017 Trump tax bill.
The gold rush followed immediately thereafter.
David Wessel follows the money to see who profited from this plan that was supposed to spur development of blighted areas and help people out of poverty: the Las Vegas strip, the Portland (Oregon) Ritz-Carlton, the Mall of America, and self-storage facilities - lucrative areas where the one percent can park money profitably and avoid capital gains taxes. And the best part: Unlike other provisions for eliminating capital gains taxes (inheritance, for example), you don't have to die to take advantage of this one.
Wessel provides vivid portraits of the proselytizers, political influencers, motivational speakers, consultants, real estate dealmakers, and individual money-seekers looking to take advantage of this 21st century bonanza. He looks at places for which Opportunity Zones were supposedly designed (Baltimore, for example) and how little money they've drawn. And he finds a couple of places (Erie, PA) where zones are actually doing what they were supposed to, a lesson on how a better designed program might have helped more left-behind places. But what Wessel reveals is the gritty reality: The dark underbelly of a system tilted in favor of the few, with the many left out in the cold.
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Critic reviews
“A must-read for anyone who wants to really understand how an idea can in time become a law - with the help of a large budget, skilled lobbying, and the support of a few key members of Congress. I thought I knew a bit about how Washington works, but I learned an enormous amount from David Wessel’s very carefully researched and extremely well written book.” (David M. Rubenstein, cofounder and co-executive chairman of The Carlyle Group and author of How to Lead)
“In Only the Rich Can Play, David Wessel masterfully makes policy wonkery into a riveting story. A cautionary tale of good intentions gone bad, it is a must read, from Wall Street to Main Street.” (Arthur C. Brooks, professor, Harvard Kennedy School and Harvard Business School, and New York Times best-selling author)
“David Wessel is a Washington treasure, and anything he writes is a must-read as far as I’m concerned. In Only the Rich Can Play, Wessel marries the depth of his understanding of economics with his years of experience as a Washington reporter and his skill at storytelling. He traces the origins of the Opportunity Zone tax break from conception to birth and then shows how it actually works (or not) on the ground. This is both a great read and an important one because it shows those of us outside Washington how things really work there.” (Bryan Burrough, coauthor of Barbarians at the Gate and Forget the Alamo)
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Story
In Profiles in Corruption, Schweizer offers a deep-dive investigation into the private finances and secrets deals of some of America’s top political leaders. And, as usual, he doesn’t disappoint, with never-before-reported revelations that uncover corruption and abuse of power - all backed up by a mountain of corporate documents and legal filings from around the globe. Learn about how they are making sweetheart deals, generating side income, bending the law to their own benefits, using legislation to advance their own interests, and much more.
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Enlightening & Horrifying!!
- By Kay Lo on 01-22-20
By: Peter Schweizer
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Sun, Sin, Suburbia
- The History of Modern Las Vegas Revised and Expanded
- By: Geoff Schumacher
- Narrated by: Douglas R. Pratt
- Length: 11 hrs and 20 mins
- Unabridged
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Las Vegas is gambling's mecca - Sin City the Entertainment Capital of the World with 40 million visitors a year. But that's just part of the story. This carefully documented history tracks the rise of Las Vegas from its vital role in World War II, of the Rat Pack era of the 50s, the explosive growth of the 90s, and it's colossal collapse in the post 2008 real-estate crash. It offers a history of the iconic Strip, but also profiles the neighborhoods where over 2 million people live.
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Good History of Vegas - old, modern and mundane
- By Amazon Customer on 06-13-14
By: Geoff Schumacher
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Homewreckers
- How a Gang of Wall Street Kingpins, Hedge Fund Magnates, Crooked Banks, and Vulture Capitalists Suckered Millions out of Their Homes and Demolished the American Dream
- By: Aaron Glantz
- Narrated by: Paul Bellantoni
- Length: 10 hrs and 10 mins
- Unabridged
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In the spirit of Evicted, Bait and Switch, and The Big Short, a shocking, heart-wrenching investigation into America’s housing crisis and the modern-day robber barons who are making a fortune off the backs of the disenfranchised working and middle class - among them, Donald Trump and his inner circle.
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Amazing book - I hope it changes things and mobilizes people to take action!
- By WeaverDreams on 10-20-19
By: Aaron Glantz
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Third World America
- How Our Politicians Are Abandoning the Middle Class and Betraying the American Dream
- By: Arianna Huffington
- Narrated by: Coleen Marlo
- Length: 6 hrs and 51 mins
- Unabridged
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America's middle class, the driver of so much of our economic success and political stability, is rapidly disappearing, forcing us to confront the fear that we are slipping as a nation - that our children and grandchildren will enjoy fewer opportunities and face a lower standard of living than we did. It's the dark flipside of the American Dream - an American Nightmare of our own making.
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Sad... but with a ray of hope
- By Maciej on 10-20-10
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Hostile Takeover
- Resisting Centralized Government's Stranglehold on America
- By: Matt Kibbe
- Narrated by: George Newbern
- Length: 12 hrs and 11 mins
- Unabridged
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Hostile Takeover is a rebellious challenge to the "upper management" of government, who are choking American prosperity and liberty. Matt Kibbe exposes the privileged collusion of Washington insiders - and maps out a proven plan for how to return power from the self-appointed "experts" back to the people. Dubbed "one of the Tea Party's masterminds" by Newsweek, Kibbe reveals how grassroots citizens can and will check the federal behemoth and restore the American enterprise.
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An amazing book from an interesting perspective
- By Aaron on 12-28-12
By: Matt Kibbe
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The Fine Print
- How Big Companies Use 'Plain English' to Rob You Blind
- By: David Cay Johnston
- Narrated by: Todd McLaren
- Length: 12 hrs and 10 mins
- Unabridged
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David Cay Johnston has made a name for himself as the defender of the common man, calling out the rich and powerful for cheating the system at the expense of everyone else. Whether he's exposing unjust loopholes in the tax code that help the rich get richer or pointing out how powerful corporations pocket government subsidies at excessive taxpayer expense, Johnston is an eloquent town crier for justice and equality.
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A must listen if you love or hate Trump
- By Rob D on 04-19-17
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Blowout
- Corrupted Democracy, Rogue State Russia, and the Richest, Most Destructive Industry on Earth
- By: Rachel Maddow
- Narrated by: Rachel Maddow
- Length: 15 hrs and 33 mins
- Unabridged
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In 2010, the words “earthquake swarm” entered the lexicon in Oklahoma. That same year, a trove of Michael Jackson memorabilia—including his iconic crystal-encrusted white glove—was sold at auction for over $1 million to a guy who was, officially, just the lowly forestry minister of the tiny nation of Equatorial Guinea. And in 2014, Ukrainian revolutionaries raided the palace of their ousted president and found a zoo of peacocks, gilded toilets, and a floating restaurant modeled after a Spanish galleon.
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chilling...
- By Kindle Customer on 10-12-19
By: Rachel Maddow
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Great Society
- A New History
- By: Amity Shlaes
- Narrated by: Terence Aselford
- Length: 17 hrs and 45 mins
- Unabridged
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In Great Society, Shlaes offers a powerful companion to her legendary history of the 1930s, The Forgotten Man, and shows that in fact there was scant difference between two presidents we consider opposites: Johnson and Nixon. Just as technocratic military planning by "the Best and the Brightest" made failure in Vietnam inevitable, so planning by a team of the domestic best and brightest guaranteed fiasco at home. At once history and biography, Great Society sketches moving portraits of the characters in this transformative period.
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How have we forgotten how bad these ideas were?
- By Robert S. Allen on 02-09-20
By: Amity Shlaes
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The Liberal Invasion of Red State America
- By: Kristin B. Tate
- Narrated by: John Pruden
- Length: 7 hrs and 4 mins
- Unabridged
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Progressive upper-middle-class urbanites are deserting expensive liberal meccas like New York and San Francisco and flocking to traditionally red states like Colorado, New Hampshire, Virginia, and Texas. The result is a sudden, confusing purpling of small-town America. School boards and local governments are being reorganized around the progressive agendas of pushy transplants. Neighborhoods are becoming unrecognizable. And the implications for future Congressional and presidential elections are staggering.
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Interesting and back up with facts
- By Jason on 01-23-20
By: Kristin B. Tate
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A Collective Bargain
- Unions, Organizing, and the Fight for Democracy
- By: Jane McAlevey
- Narrated by: Jane McAlevey
- Length: 9 hrs and 21 mins
- Unabridged
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In A Collective Bargain, longtime labor organizer, environmental activist, and political campaigner Jane McAlevey makes the case that unions are a key institution capable of taking effective action against today’s super-rich corporate class. Since the 1930s, when unions flourished under New Deal protections, corporations have waged a stealthy and ruthless war against the labor movement. And they’ve been winning.
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Disappointing
- By Ellen on 01-26-20
By: Jane McAlevey
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How Money Became Dangerous
- The Inside Story of Our Turbulent Relationship with Modern Finance
- By: Christopher Varelas, Dan Stone
- Narrated by: Roger Wayne
- Length: 14 hrs and 43 mins
- Unabridged
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From a veteran of the trade, a provocative and entertaining voyage into the turbulent heart of modern money that sheds new light on the rise of our threatening and complicated financial system, how money became our adversary, and why finding a new course is crucial to a healthy society.
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Must read
- By Craig M. Stratton on 02-08-20
By: Christopher Varelas, and others
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A Crisis Wasted
- Barack Obama's Defining Decisions
- By: Reed Hundt
- Narrated by: Jason Culp
- Length: 12 hrs and 3 mins
- Unabridged
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This book is the compelling story of President Obama’s domestic policy decisions made between September 2008 and his inauguration on January 20, 2009. Unlike all other presidents except Abraham Lincoln - who decided not to allow slavery to expand westward before he was sworn in - Barack Obama determined the fate of his presidency before he took office. The results of these fateful decisions led to Donald Trump taking his place eight years later. This book describes how and why these decisions were made, and discusses whether the outcomes could have been different.
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Somewhat complicated, not audiobook material
- By Mariana Nolasco on 09-20-20
By: Reed Hundt
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Supercapitalism
- The Transformation of Business, Democracy, and Everyday Life
- By: Robert B. Reich
- Narrated by: Dick Hill
- Length: 9 hrs and 36 mins
- Unabridged
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Since the 1970s, and notwithstanding three recessions, the U.S. economy has soared. American capitalism has been a triumph, and it has spread throughout the world. At the same time, argues the former U.S. secretary of labor, Robert B. Reich, the effectiveness of democracy in America has declined. It has grown less responsive to the citizenry, and people are feeling more and more helpless as a result.
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Robert Reich for V.P. (of the U.S.)
- By Horace on 11-07-07
By: Robert B. Reich
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Bought and Paid For
- The Unholy Alliance Between Barack Obama and Wall Street
- By: Charles Gasparino
- Narrated by: Lloyd James
- Length: 9 hrs and 32 mins
- Unabridged
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According to business reporter Charles Gasparino, President Obama is faking his outrage at Wall Street, and his calls for new policies to rein in banks that are "too big to fail" are just pabulum. In reality, Obama has climbed into bed with Wall Street CEOs, giving them what they want so they will support his liberal, big-government agenda.
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Revealing and Convincing
- By Walter on 10-24-11
What listeners say about Only the Rich Can Play
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- sam gejdenson
- 10-14-21
Great book shows government and private sector
excellent clear presentation of government and buisness the real estate world and the political world
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- Peter Riley
- 01-01-22
Fascinating
I always liked Mr. Wessel’s tax writing in the Wall Street Journal as I found him to be fair and non-partisan. As a tax professional CPA I always find it interesting to see where a specific tax proposal comes from. In this excellent book we trace the origins of “opportunity zones” and an examination of the result of that legislation.
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