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REPORT: U.S. Wealth Gap Worst in a Century

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"A survey early this month found that 76 percent of registered voters support raising taxes on the wealthiest."

 

If I was in charge, the wealthy would be begging for the 70% tax on wealth. I wouldn't let them off that easy. Heads would roll.

 

 

 

400 Richest Americans Own More Than 150 Million Of The Nation’s Poorest: Study

“U.S. wealth concentration seems to have returned to levels last seen during the Gilded Age of the Roaring Twenties,” economist Gabriel Zucman wrote.

 

https://www.huffingtonpost.com/entry/400-richest-own-more-than-150-million-poorest_us_5c60f627e4b0eec79b250c34

(Full article at above link)

 

 

A new study of the intensifying concentration of wealth in the United States reveals that the 400 richest people in the nation — just .00025 percent of the population — own more than the 150 million adults in the bottom 60 percent, according to an analysis by The Washington Post.

The information on the richest Americans, in a working paper by University of California at Berkeley economist Gabriel Zucman, comes as pressure appears to be mounting among American taxpayers to increase taxes on the country’s ultra wealthy.

Zucman’s study, “Global Wealth Inequality,” released last month, also found that the 400 richest Americans tripled their wealth since the early 1980s.

The share of the nation’s wealth held by the adults in the bottom 60 percent, meanwhile, dropped from 5.7 percent in 1987 to 2.1 percent in 2014, the Post reported, citing the  World Inequality Database that’s maintained by Zucman and other economists.

“U.S. wealth concentration seems to have returned to levels last seen during the Roaring Twenties,” Zucman wrote. And as “wealth begets power” the political system is impacted, he noted. 

Zucman has advised Rep. Elizabeth Warren (D-Mass.) on her plan to impose an annual “wealth tax” on people with $50 million and more in assets. Three online polls early this 

month showed support for her plan running from 50 percent to as high as 61 percent.

Rep. Alexandria Ocasio-Cortez (D-N.Y.) has also talked of boosting the marginal income tax rate to 70 percent for the portion of income exceeding $10 million a year. The majority of Americans support raising taxes on the wealthy, according to polls. A survey early this month found that 76 percent of registered voters support raising taxes on the wealthiest.

Zucman’s study compared net worth — not income — which is the value of everything that a family owns, minus debt. Homes, land, rental properties, stock, bank accounts and any business holdings are all included. Personal possessions, like cars, were not included.

 

 

 

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I know you're poor - but if you get a real degree and make a good living - we're living in the best economic times since 1960.  I need you to get a hold of yourself.

 

I just bought a new car - the 2019 Rav 4 XLE Premium.  It's very nice.  I had a 2016 Mazda CX-5, but I wasn't impressed so I paid that one off and bought a new car.

 

You could have this too instead of bitching.  Just think about it.

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so if the wealth gap is as bad as you say or the survey says , so why allow illegal immigrants in?

you guys keep saying Americans are rich enough to support all the immigrants that want to come in

 

and you really think if you were in charge you could get both chambers to pass a 70% tax rate?

 

I thought you said you were educated? unless that was just posting for sh1ts and giggles.

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15 minutes ago, chairmanOFTB said:

so if the wealth gap is as bad as you say or the survey says , so why allow illegal immigrants in?

you guys keep saying Americans are rich enough to support all the immigrants that want to come in

 

and you really think if you were in charge you could get both chambers to pass a 70% tax rate?

 

I thought you said you were educated? unless that was just posting for sh1ts and giggles.

 

 

You're conflating issues.

 

Wealth concentration has been disrupted before. It's cyclical. Tax wealth not income. Reinstitute the inheritance tax, or as the GOP had it rebranded 'the death tax' to trick gullible fools who have nothing, but still think they will lose something when they 'die'. (Idiots)  The story behind this -the semantic games - is fascinating.  And, no, I'm not kidding. If it was up to me we would be knee-deep in blue blood. (not Dem blue)

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1 hour ago, drvoke said:

REPORT: U.S. Wealth Gap Worst in a Century

 

drchoke: There was no mention in your link for the reason of the wealth gap...like the ESLs pouring into the country, college students majoring in advance snowflake sluming or the welfare rats who think it is a lifestyle.

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3 minutes ago, Old Mack said:

 

drchoke: There was no mention in your link for the reason of the wealth gap...like the uneducated pouring into the country or the welfare rats who think it is a lifestyle.

 

They didn't mention that because that is not the reason, regardless of what those bought-and-paid-for whores at Fox News tell you.

 

The people at Fox would be the first up the steps.

 

 

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3 minutes ago, drvoke said:

You're conflating issues.

 

I'm not actually

 

3 minutes ago, drvoke said:

Tax wealth not income

 

Agreed, but that wasn't what I was alluding to

 

4 minutes ago, drvoke said:

Reinstitute the inheritance tax, or as the GOP had it rebranded 'the death tax' to fool gullible fools who have nothing but still think they will lose something when they 'die'. (Idiots) 

 

What does that have to do with the perceived wealth gap?

 

bottom line is even if the Tax rates went back to post WW2 Eisenhower years ,there were so many  loopholes and goodies that the rich never paid.

AOC knows this, Bernie knows this, Warren knows this but they are counting on  the uneducated Democrat base voters not to know this.

 

While a wealth gap exists but look no further on the people on the dole , dependent on the government to live

 

not like the old days one was responsible for their own lives

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9 minutes ago, drvoke said:

They didn't mention that because that is not the reason, regardless of what those bought-and-paid-for whores at Fox News tell you.

 

Did you hear that on CNN or MSNBS ?

 

The reason there's a wealth gap is because some people are smarter, work harder and yes luckier than others.

 

sIMPLEEQUATION_zpsd8db5780.png

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1 hour ago, drvoke said:

 

 

 

Image result for rich vs poor

 

 

"A survey early this month found that 76 percent of registered voters support raising taxes on the wealthiest."

 

If I was in charge, the wealthy would be begging for the 70% tax on wealth. I wouldn't let them off that easy. Heads would roll.

 

 

 

400 Richest Americans Own More Than 150 Million Of The Nation’s Poorest: Study

“U.S. wealth concentration seems to have returned to levels last seen during the Gilded Age of the Roaring Twenties,” economist Gabriel Zucman wrote.

 

https://www.huffingtonpost.com/entry/400-richest-own-more-than-150-million-poorest_us_5c60f627e4b0eec79b250c34

(Full article at above link)

 

 

A new study of the intensifying concentration of wealth in the United States reveals that the 400 richest people in the nation — just .00025 percent of the population — own more than the 150 million adults in the bottom 60 percent, according to an analysis by The Washington Post.

The information on the richest Americans, in a working paper by University of California at Berkeley economist Gabriel Zucman, comes as pressure appears to be mounting among American taxpayers to increase taxes on the country’s ultra wealthy.

Zucman’s study, “Global Wealth Inequality,” released last month, also found that the 400 richest Americans tripled their wealth since the early 1980s.

The share of the nation’s wealth held by the adults in the bottom 60 percent, meanwhile, dropped from 5.7 percent in 1987 to 2.1 percent in 2014, the Post reported, citing the  World Inequality Database that’s maintained by Zucman and other economists.

“U.S. wealth concentration seems to have returned to levels last seen during the Roaring Twenties,” Zucman wrote. And as “wealth begets power” the political system is impacted, he noted. 

Zucman has advised Rep. Elizabeth Warren (D-Mass.) on her plan to impose an annual “wealth tax” on people with $50 million and more in assets. Three online polls early this 

month showed support for her plan running from 50 percent to as high as 61 percent.

Rep. Alexandria Ocasio-Cortez (D-N.Y.) has also talked of boosting the marginal income tax rate to 70 percent for the portion of income exceeding $10 million a year. The majority of Americans support raising taxes on the wealthy, according to polls. A survey early this month found that 76 percent of registered voters support raising taxes on the wealthiest.

Zucman’s study compared net worth — not income — which is the value of everything that a family owns, minus debt. Homes, land, rental properties, stock, bank accounts and any business holdings are all included. Personal possessions, like cars, were not included.

 

 

 

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wife got a new Beamer,, and i got my new bass boat !!!    Life is good  !!    fuk da  dickocrats

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1 hour ago, drvoke said:

 

 

 

Image result for rich vs poor

 

 

"A survey early this month found that 76 percent of registered voters support raising taxes on the wealthiest."

 

If I was in charge, the wealthy would be begging for the 70% tax on wealth. I wouldn't let them off that easy. Heads would roll.

 

 

 

400 Richest Americans Own More Than 150 Million Of The Nation’s Poorest: Study

“U.S. wealth concentration seems to have returned to levels last seen during the Gilded Age of the Roaring Twenties,” economist Gabriel Zucman wrote.

 

https://www.huffingtonpost.com/entry/400-richest-own-more-than-150-million-poorest_us_5c60f627e4b0eec79b250c34

(Full article at above link)

 

 

A new study of the intensifying concentration of wealth in the United States reveals that the 400 richest people in the nation — just .00025 percent of the population — own more than the 150 million adults in the bottom 60 percent, according to an analysis by The Washington Post.

The information on the richest Americans, in a working paper by University of California at Berkeley economist Gabriel Zucman, comes as pressure appears to be mounting among American taxpayers to increase taxes on the country’s ultra wealthy.

Zucman’s study, “Global Wealth Inequality,” released last month, also found that the 400 richest Americans tripled their wealth since the early 1980s.

The share of the nation’s wealth held by the adults in the bottom 60 percent, meanwhile, dropped from 5.7 percent in 1987 to 2.1 percent in 2014, the Post reported, citing the  World Inequality Database that’s maintained by Zucman and other economists.

“U.S. wealth concentration seems to have returned to levels last seen during the Roaring Twenties,” Zucman wrote. And as “wealth begets power” the political system is impacted, he noted. 

Zucman has advised Rep. Elizabeth Warren (D-Mass.) on her plan to impose an annual “wealth tax” on people with $50 million and more in assets. Three online polls early this 

month showed support for her plan running from 50 percent to as high as 61 percent.

Rep. Alexandria Ocasio-Cortez (D-N.Y.) has also talked of boosting the marginal income tax rate to 70 percent for the portion of income exceeding $10 million a year. The majority of Americans support raising taxes on the wealthy, according to polls. A survey early this month found that 76 percent of registered voters support raising taxes on the wealthiest.

Zucman’s study compared net worth — not income — which is the value of everything that a family owns, minus debt. Homes, land, rental properties, stock, bank accounts and any business holdings are all included. Personal possessions, like cars, were not included.

 

 

 

Image result for rich vs poor

We’re not taxing wealth. 

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1 hour ago, Crom33 said:

I know you're poor - but if you get a real degree and make a good living - we're living in the best economic times since 1960.  I need you to get a hold of yourself.

 

I just bought a new car - the 2019 Rav 4 XLE Premium.  It's very nice.  I had a 2016 Mazda CX-5, but I wasn't impressed so I paid that one off and bought a new car.

 

You could have this too instead of bitching.  Just think about it.

He could probably have a nice house and car if he quit smoking pot......

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Highest rates in order:

 

- Fortune 500 Corps.

 

- 70% rate on anyone w/ currency/assets over 10 billion.

 

- Wallstreet spec/ops.

 

- Tax all (American earned) income diverted offshore 20% over $10,000.

 

- Millionaires w/ c/a over $500m at 15%.

   

- Adjusted rates towards million(s) below 500.

 

- Inheritance.

 

- Small businesses.

 

- Upper & middle class - adjusted.

 

- Lower class.

 

 

 

 

 

 

 

 

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3 hours ago, drvoke said:

 

 

 

Image result for rich vs poor

 

 

"A survey early this month found that 76 percent of registered voters support raising taxes on the wealthiest."

 

If I was in charge, the wealthy would be begging for the 70% tax on wealth. I wouldn't let them off that easy. Heads would roll.

 

 

 

400 Richest Americans Own More Than 150 Million Of The Nation’s Poorest: Study

“U.S. wealth concentration seems to have returned to levels last seen during the Gilded Age of the Roaring Twenties,” economist Gabriel Zucman wrote.

 

https://www.huffingtonpost.com/entry/400-richest-own-more-than-150-million-poorest_us_5c60f627e4b0eec79b250c34

(Full article at above link)

 

 

A new study of the intensifying concentration of wealth in the United States reveals that the 400 richest people in the nation — just .00025 percent of the population — own more than the 150 million adults in the bottom 60 percent, according to an analysis by The Washington Post.

The information on the richest Americans, in a working paper by University of California at Berkeley economist Gabriel Zucman, comes as pressure appears to be mounting among American taxpayers to increase taxes on the country’s ultra wealthy.

Zucman’s study, “Global Wealth Inequality,” released last month, also found that the 400 richest Americans tripled their wealth since the early 1980s.

The share of the nation’s wealth held by the adults in the bottom 60 percent, meanwhile, dropped from 5.7 percent in 1987 to 2.1 percent in 2014, the Post reported, citing the  World Inequality Database that’s maintained by Zucman and other economists.

“U.S. wealth concentration seems to have returned to levels last seen during the Roaring Twenties,” Zucman wrote. And as “wealth begets power” the political system is impacted, he noted. 

Zucman has advised Rep. Elizabeth Warren (D-Mass.) on her plan to impose an annual “wealth tax” on people with $50 million and more in assets. Three online polls early this 

month showed support for her plan running from 50 percent to as high as 61 percent.

Rep. Alexandria Ocasio-Cortez (D-N.Y.) has also talked of boosting the marginal income tax rate to 70 percent for the portion of income exceeding $10 million a year. The majority of Americans support raising taxes on the wealthy, according to polls. A survey early this month found that 76 percent of registered voters support raising taxes on the wealthiest.

Zucman’s study compared net worth — not income — which is the value of everything that a family owns, minus debt. Homes, land, rental properties, stock, bank accounts and any business holdings are all included. Personal possessions, like cars, were not included.

 

 

 

Image result for rich vs poor

What are the Fastest-Growing Classes of Millionaires in America?

By Robert Wenzel

Economic Policy Journal

May 19, 2014

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This should not come as a surprise for a country that continues to experience an expanding government role in the daily lives of its citizens. According to Forbes columnist Rich Karlgaard the answer to the question above is: Police officers, firefighters, teachers and federal bureaucrats. Here’s why:

It’s said that government workers now make, on average, 30% more than private-sector workers. Put that fantasy aside. It far underestimates the real figures. By my calculations government workers make more than twice as much. They are America’s fastest-growing group of millionaires.

Doubt it? Then ask yourself: What is the net present value of an $80,000 annual pension payout with additional full health benefits? Working backward the total NPV would depend on expected returns of a basket of safe investments–blue-chip stocks, dividends and U.S. Treasury bonds. Investment pros such as my friend Barry Glassman say 4% is a good, safe return today.

Based on this small but unfortunately realistic 4% return, an $80,000 annual pension payout implies a rather large pot of money behind it–$2 million, to be precise. That’s a lot.

That $2 million also happens to be the implied booty of your average California policeman who retires at age 55. Typical cities in California have a police officer’s retirement plan that works as follows: 3% at age 50. As the North County Timesof Carlsbad, Calif. explains: “Carlsbad offers its police and firefighters a ’3-percent-at-50′ retirement plan, meaning that emergency services workers who retire at age 50 can get 3% of their highest salary times the number of years they have worked for the city. City officials have said that in Carlsbad the average firefighter or police officer typically retires at age 55 and has 28 years of service. Using the 3% salary calculation, that person would receive an annual city pension of $76,440.”

Who are America’s fastest-growing class of millionaires? They are police officers, firefighters, teachers and federal bureaucrats, who, unless things change drastically, will be paid something near their full salaries every year–until death–after retiring in their mid-50s. That is equivalent to a retirement sum worth millions of dollars.

If you further ask how much salary it would take to live, save and build a $2 million stash over a 30-year career, the answer would be somewhere close to $75,000 more than the nominal salary, if you include all the tax bites associated with earning, saving and investing money.

In other words, if a police officer, firefighter, teacher or federal bureaucrat is making $75,000 a year he or she is effectively making twice that amount. Implied in the annual pension payout is that the individual diligently saved half of his annual salary–after taxes–in order to save, invest and build (again, after taxes) the near $2 million pot.

So when you hear that government workers now make, on average, 30% more than private-sector workers, you’re not getting the full story. Government workers, on average, make more than twice as much as private-sector workers when you include the net present value of their pensions. How long can this last?

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1 hour ago, jrock2310 said:

Highest rates in order:

 

- Fortune 500 Corps.

 

- 70% rate on anyone w/ currency/assets over 10 billion.

 

- Wallstreet spec/ops.

 

- Tax all (American earned) income diverted offshore 20% over $10,000.

 

- Millionaires w/ c/a over $500m at 15%.

   

- Adjusted rates towards million(s) below 500.

 

- Inheritance.

 

- Small businesses.

 

- Upper & middle class - adjusted.

 

- Lower class.

 

 

 

 

 

 

 

 

that's dumb....end income tax and payroll tax.....go back to tariffs......that was the key to success...and the people of the nation weren't forced to pay for the right of foreign nations to do business with us.....the foreign nations had to pay that bill...this tax americans sh it is stupid.

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9 hours ago, DeepBreath said:

We’re not taxing wealth. 

 

That's precisely what we are going to do. It's an integral part of the Green New Deal.

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Just now, drvoke said:

 

That's precisely what we are going to do. It's an integral part of the Green New Deal.

YOU WILL BURN IN HELL FAGBOY

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3 minutes ago, drvoke said:

 

That's precisely what we are going to do. It's an integral part of the Green New Deal.

You have zero chance of the new communist deal getting passed and it’ll cost you big time in 2020. 

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Just now, DeepBreath said:

You have zero chance of the new communist deal getting passed and it’ll cost you big time in 2020. 

 

The majority of the country wants it. Over 75%! according to polls. Get your head out of your ass.

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Just now, drvoke said:

 

The majority of the country wants it. Over 75%! according to polls. Get your head out of your ass.

Absolutely false. 

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1 minute ago, DeepBreath said:

Absolutely false. 

 

And it was a Fox News poll! In your face!

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