The market doubles on average every 8-10 years. It took the DOW over 100 years to get 50K and it'll take only 10 years to get the next 50K. In 20 years the DOW will be at 200K. It's kinda wild to think about. Think about the amount of wealth that will be generated in next 20 years.
Those starting with more money in the market will get richer. The guy with $20M will get the same 4X as the guy with $100K. The rich dude will have $80M though but the other guy will have $400K. We're going to have multiple trillionaires in the next 20 years. If market-driven wealth acceleration continues, and capital compounds faster than wages a wealth tax becomes politically inevitable.
Chipotle CEO said our customers make $100K so we can raise prices. And this is a small example why life feels like a never ending hamster wheel for the middle class. As soon as you make more, you get charged more. I felt it living in The Woodlands where there's a huge Woodlands Tax contractors charge.
Economic classes have existed in every civilization, always wealthy, middle, and poor. That alone isn't destabilizing. What matters is mobility and perceived fairness. When we start cutting benefits while there are multiple trillionaires walking around, people will get pissed. You're going to need a lot of new millionaires to be content with what they have.
Those starting with more money in the market will get richer. The guy with $20M will get the same 4X as the guy with $100K. The rich dude will have $80M though but the other guy will have $400K. We're going to have multiple trillionaires in the next 20 years. If market-driven wealth acceleration continues, and capital compounds faster than wages a wealth tax becomes politically inevitable.
Chipotle CEO said our customers make $100K so we can raise prices. And this is a small example why life feels like a never ending hamster wheel for the middle class. As soon as you make more, you get charged more. I felt it living in The Woodlands where there's a huge Woodlands Tax contractors charge.
Economic classes have existed in every civilization, always wealthy, middle, and poor. That alone isn't destabilizing. What matters is mobility and perceived fairness. When we start cutting benefits while there are multiple trillionaires walking around, people will get pissed. You're going to need a lot of new millionaires to be content with what they have.