Top 400 Americans have more wealth than the bottom 60%

14,662 Views | 288 Replies | Last: 6 mo ago by Zombie Jon Snow
Shanked Punt
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https://www.dailyherald.com/business/20190210/wealth-concentration-near-levels-last-seen-during-the-roaring-twenties-study-finds

Quote:


The 400 richest Americans -- the top 0.00025 percent of the population -- have tripled their share of the nation's wealth since the early 1980s, according to a new working paper on wealth inequality by University of California at Berkeley economist Gabriel Zucman.

Those 400 Americans own more of the country's riches than the 150 million adults in the bottom 60 percent of the wealth distribution, who saw their share of the nation's wealth fall from 5.7 percent in 1987 to 2.1 percent in 2014, according to the World Inequality Database maintained by Zucman and others.


At this point, 150 million people can easily out vote 400. The deck has always been stacked in favor of the elite. Wealth inequity in this country will be addressed one way or another. And frankly, the distribution is likely much worse than this as the elite can hide quite a bit of assets.
Cassius
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Bernie Sanders has 3 homes.

So who is going to resolve this? AOC?
C@LAg
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I do not give a single flying **** about this discrepancy.

it is not our job or the states to ensure any sort of equity, otherwise we would require worthwhile posts from you to counter your drivel.


AgMarauder04
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AG
And?
GCP12
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AG
I just have to say that it's hilarious that you still believe your side will "fix" this "problem"
TresPuertas
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AG
Now do a study to see how much these billionaires have contributed in terms of salaries and wealth distribution by employment and job creation

The most idiotic idea that exists is that billionaires get that way because they s*** on the poor along the way.

That's false.
Saltwater Assassin
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AG
Jealousy: not a sound life strategy.

If you are unhappy with your results, try working harder...
Do right and bear the consequences. -Sam Houston
30wedge
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Work harder, work smarter, make better decisions and become one of the 400 rather than be envious of their success it its that big of a deal to you.
Pelayo
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AG
Why is this a problem, exactly?

Do those 400 impoverish anyone else by being wealthy?
FriscoKid
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AG
Poor men don't create jobs and make our society better.
Bosco
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It's none of their gd business how much money the wealthy have or what they do with it
JW
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AG
anti-monopoly laws need to kick in for many
C@LAg
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and there are a 100 million parasites in this country who provide absolutely nothing of value, yet take and take and take from those of us who do.
Pelayo
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AG
I am formally offering staff programming money to get a hammer & sickle emoticon. Too many communist sympathizers here not to have one.
Cassius
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Millions of people willingly traded their money for a computer running Windows, because the computer improved their lives moreso than holding on to the money. That exchange made Gates rich.

What's wrong with that?
FriscoKid
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AG
Better yet. Take all the wealth from those 400 people and give it to the poor. Then everyone will starve next year.
YouBet
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AG
We are still waiting for your proof to back up your claims on the tax thread. Just reminding you.
deddog
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AG
Shanked Punt said:

https://www.dailyherald.com/business/20190210/wealth-concentration-near-levels-last-seen-during-the-roaring-twenties-study-finds

Quote:


The 400 richest Americans -- the top 0.00025 percent of the population -- have tripled their share of the nation's wealth since the early 1980s, according to a new working paper on wealth inequality by University of California at Berkeley economist Gabriel Zucman.

Those 400 Americans own more of the country's riches than the 150 million adults in the bottom 60 percent of the wealth distribution, who saw their share of the nation's wealth fall from 5.7 percent in 1987 to 2.1 percent in 2014, according to the World Inequality Database maintained by Zucman and others.



Income has a lower bound (0$)
There is no upper bound for income.

So why should this surprise anybody?

Cinco Ranch Aggie
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AG
You come across as jealous with this post.

Waaaaaaaaahhhhh, those big meanies have too much money! Daddy government, make them give me some!

Grow up.
C@LAg
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These are the times when I wish this site had a downvote function like reddit does so crap like this would just disappear.

I am all for liberal offering up suggestions and policies to be discussed. But lobbing grenades like this is nothing more than trolling.

And yes, the conservatives on this site do the same with conservative dog whistles as well. I am just as guilty of it. And my posts could get downvoted just as well.
mm98
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AG
Do you suggest we should just kill those 400, or put them all in jail for life, then disperse all their money to lower earners?
C@LAg
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Senator Cassius said:

Bernie Sanders has 3 homes.

So who is going to resolve this? AOC?
Algore and John Kerry both have 5 or more.
DallasAg 94
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If Liberals will appeal to their fellow Democrats, we should be able to resolve this by having these guys distribute half their wealth to either the government... or the poor:

1. Bezos ($112B)
2. Gates ($90B)
3. Buffett ($84B)
4. Zuckerberg ($71B)
8. Bloomberg ($50B)
9. Larry Page ($48.8 - Alphabet)
10. Sergey Brin $47.8B - Alphabet

But they won't.

That's over $250B.

Problem solved.
gig em 02
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99.9% of workers earning less than $15/hour have a smart phone. When the $12/hr janitor is no longer wearing $90 shoes and playing on a $500 phone then we can talk. Until then, stop complaining about some wage problem that reality proves doesn't exist. What you really have a beef with is how economically stupid people are.
deddog
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AG
Shanked Punt said:





The deck has always been stacked in favor of the elite. Wealth inequity in this country will be addressed one way or another. And frankly, the distribution is likely much worse than this as the elite can hide quite a bit of assets.
How is it "stacked?"

You didn't start Apple because "the deck was stacked" against you?
You didn't start Facebook because the "deck was always stacked" against you?
You didn't start Starbucks because "the deck was always stacked" against you?
Or is it more likely that you just aren't very smart?

Quote:

At this point, 150 million people can easily out vote 400.

Yup.Like every 3rd world country out there. Congratulations?
Shanked Punt
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DallasAg 94 said:

If Liberals will appeal to their fellow Democrats, we should be able to resolve this by having these guys distribute half their wealth to either the government... or the poor:

1. Bezos ($112B)
2. Gates ($90B)
3. Buffett ($84B)
4. Zuckerberg ($71B)
8. Bloomberg ($50B)
9. Larry Page ($48.8 - Alphabet)
10. Sergey Brin $47.8B - Alphabet

But they won't.

That's over $250B.

Problem solved.


The wealth tax that will eventually be passed will apply to both liberals and conservatives, so I don't really see your point.
deddog
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AG
DallasAg 94 said:

If Liberals will appeal to their fellow Democrats, we should be able to resolve this by having these guys distribute half their wealth to either the government... or the poor:

1. Bezos ($112B)
2. Gates ($90B)
3. Buffett ($84B)
4. Zuckerberg ($71B)
8. Bloomberg ($50B)
9. Larry Page ($48.8 - Alphabet)
10. Sergey Brin $47.8B - Alphabet

But they won't.

That's over $250B.

Problem solved.
For 6 months.
Then where will they get money from?
FriscoKid
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AG
Steve Wynn and Oprah Winfry are two of the people on the list. How many jobs have those two people created with their wealth?
aggie appraiser
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I have a higher net worth than the combined net worth of every person in this world that ever lived that had a negative net worth.

Stupid meaningless stats.
DallasAg 94
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Shanked Punt said:

DallasAg 94 said:

If Liberals will appeal to their fellow Democrats, we should be able to resolve this by having these guys distribute half their wealth to either the government... or the poor:

1. Bezos ($112B)
2. Gates ($90B)
3. Buffett ($84B)
4. Zuckerberg ($71B)
8. Bloomberg ($50B)
9. Larry Page ($48.8 - Alphabet)
10. Sergey Brin $47.8B - Alphabet

But they won't.

That's over $250B.

Problem solved.
The wealth tax that will eventually be passed will apply to both liberals and conservatives, so I don't really see your point.
You think these guys will turn over 3% of their holdings to the government?

Sure... because men of that wealth get that wealthy by giving their money to other people. The Government... employees...
Agnzona
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The concept is stupid. As economy grows wealth will grow. Those with little still have little but its a smaller % of the ever growing pie. Duh!

The only solution to wealth disparity is to stop growing the economy or better yet recession it?
Why are you liberals so addlepated?
policywonk98
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AG
If you make $15,000 a year you are in the top 8% in the world.

Being born in some of the poorest households in America makes you a lottery winner compared to 90% of the world. Even when you control for cost of living.

I realize that progressives are desperately trying to address that inequality by pludging our country into complete ruin, but the discourse around this topic is completely ridiculous.
DannyDuberstein
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AG
Hand-wringing over an income gap is pure, unabashed jealousy. It is not a problem. Our poor are the wealthiest this planet has wver seen. We provide more opportunity to climb the wealth ladder than this planet has ever seen.

Trying to equalize income is a fool's errand that will lead to ruin. For everyone.
DallasAg 94
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deddog said:

DallasAg 94 said:

If Liberals will appeal to their fellow Democrats, we should be able to resolve this by having these guys distribute half their wealth to either the government... or the poor:

1. Bezos ($112B)
2. Gates ($90B)
3. Buffett ($84B)
4. Zuckerberg ($71B)
8. Bloomberg ($50B)
9. Larry Page ($48.8 - Alphabet)
10. Sergey Brin $47.8B - Alphabet

But they won't.

That's over $250B.

Problem solved.
For 6 months.
Then where will they get money from?
Where will who get money from? This isn't about where the money goes.

The problem state:
Quote:

Top 400 Americans have more wealth than the bottom 60%
The solution I provided would cut the amount of wealth held by the Top 400 Americans, and thus decrease the comparison to the bottom 60%, which might be **holds finger in air** say 55%. The new problem statement then say, "Top 400 Americans have more wealth than the bottom 55%." I can then offer the Liberals to give more money, and down we go.

It was meant tongue-in-cheek about how the boogeyman isn't some Conservative GOP guy... it is the people in their own party.
bobbranco
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AG
Shanked Again.
 
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