The top 1% of earners is finally earning more than the entire middle class

[IMG]https://pbs.twimg.com/media/GCZ2DzQXUAA4NZB.png[/IMG]

[url]https://cryptorank.io/news/feed/67187-wealth-concentration-hits-a-new-peak-as-economies-slip-into-recession[/url]

We did it, Mr. Reagan! But ya boy Laffer got done dirty. Did so much for the top 1%, only to be worth a measly $7 or 8 million 50 years later.

Don't you dare tax them more though! We must protect them at all costs! They need every cent! If something needs paying for the middle class must pay for it!

[QUOTE=Off the Court;14885198]Don't you dare tax them more though! We must protect them at all costs! They need every cent! If something needs paying for the middle class must pay for it![/QUOTE]

I bet you were in favor of shutting down the economy during Covid and telling small business owners they couldn't stay open.

This is your fault, vax boy.

Grabbing my popcorn and waiting for the alt right fgts to proudly show us how much they DON'T understand...

[QUOTE=Baller234;14885205]Duh-uhh-uhh-uhh-uhhh![/QUOTE]
:yaohappy:

[QUOTE=SATAN;14885212]Grabbing my popcorn and waiting for the alt right fgts to proudly show us how much they DON'T understand...[/QUOTE]

You aren't waiting. Baller already posted it is me who is responsible for this because of covid and the vaccine and stuff, already showing he doesn't understand it at all.

[QUOTE=Off the Court;14885227]You aren't waiting. Baller already posted it is me who is responsible for this because of covid and the vaccine and stuff, already showing he doesn't understand it at all.[/QUOTE]
Name something he does understand :lol

I seriously think that dude probably struggles to figure out how to open his fridge

[QUOTE=Off the Court;14885227]You aren't waiting. Baller already posted it is me who is responsible for this [I]because of covid and the vaccine and stuff[/I], already showing he doesn't understand it at all.[/QUOTE]
:oldlol:

[QUOTE=Off the Court;14885227]You aren't waiting. Baller already posted it is me who is responsible for this because of covid and the vaccine and stuff, already showing he doesn't understand it at all.[/QUOTE]

You're over here crying that all the wealth is funneling to the top 1%, meanwhile that same 1% did extremely well during the pandemic at the expense of practically everyone else.

Don't cry about it now when you were the ones cheering on big government to shut down the economy and shut down everyone's businesses. You're a walking contradiction.

Covid and the proceeding policies facilitated one of the biggest transfers of wealth in history


Which guys were advocating for those again?





:lol

Destroying the middle class is the democrats dream. Look at san francisco

[QUOTE=warriorfan;14885445]Covid and the proceeding policies facilitated one of the biggest transfers of wealth in history


Which guys were advocating for those again?





:lol[/QUOTE]

:bowdown:

[QUOTE=warriorfan;14885445]Covid and the proceeding policies facilitated one of the biggest transfers of wealth in history


Which guys were advocating for those again?





:lol[/QUOTE]

Trump

[QUOTE=Off the Court;14885652]Trump[/QUOTE]

Lmaooo

You were in hysterics over an illness with a 99.99% survival rate and advocated for the country to shut down into quarantine.

These are the results.

Made your bed, now you can lie in it (or in your case just make another alt account) :lol

This discussion only matters if we properly understand where that 1% money comes from.

Is it productive?

Is it casino economy shit?

No one ever does the break down accurately.

[QUOTE=Norcaliblunt;14885705]This discussion only matters if we properly understand where that 1% money comes from.

Is it productive?

Is it casino economy shit?

No one ever does the break down accurately.[/QUOTE]

You were too lazy to read an article THIS short?

[QUOTE]This wealth accumulation has been primarily powered by investments in stocks and real estate.[/QUOTE]
It is not rocket science.

The ultra rich never lose when investing because

1 they can borrow against unrealized capital gains tax free

2 any losses on capital gains will be recognized in a year that reduces their tax liability

[QUOTE=Charlie Sheen;14885737]It is not rocket science.

The ultra rich never lose when investing because

1 they can borrow against unrealized capital gains tax free

2 any losses on capital gains will be recognized in a year that reduces their tax liability[/QUOTE]It always baffled me how you and I are assessed a property tax based on the value of our assets(our house), and we can't find a way to tax the assets of billionaires. Hedgefunds have 7/8 digit expense actuary departments to put dollar values on their assets to reel in investors all the time.

[QUOTE=Baller234;14885205]I bet you were in favor of shutting down the economy during Covid and telling small business owners they couldn't stay open.

This is your fault, vax boy.[/QUOTE]Do you think it was moreso that, or the continuous tax cuts for the rich while bolstering deficit spending in order to artificially inject inflation via our privatized FED system?

[QUOTE=Off the Court;14885652]Trump[/QUOTE]

lets be real, you didnt have a problem with any of the measures taken.... you defended all of it.


like any good run-along dummie does.


Thats you. Thats who you are. Thats who rrr3 is.


Face it. Jump out of it.

[QUOTE=ArbitraryWater;14885797]lets be real, you didnt have a problem with any of the measures taken.... you defended all of it.


like any good run-along dummie does.


Thats you. Thats who you are. Thats who rrr3 is.


Face it. Jump out of it.[/QUOTE]

Cringe.

[QUOTE=j3lademaster;14885795]Do you think it was moreso that, or the continuous tax cuts for the rich while bolstering deficit spending in order to artificially inject inflation via our privatized FED system?[/QUOTE]

I think only a special needs autistic sped would raise this question in the first place. Even if the government were to raise taxes on the 1%, that money isn't going in your pocket and it's not doing anything to decrease the wealth gap.

And that is beside the point. Anyone who was cheering on the covid shutdowns is in [B]zero[/B] position to complain about wealth funneling to the top.

Look in the mirror. This is your fault. Lefties need to own and accept it and STFU.

[QUOTE=Baller234;14885860]I think only a special needs autistic sped would raise this question in the first place. Even if the government were to raise taxes on the 1%, that money isn't going in your pocket and it's not doing anything to decrease the wealth gap.

And that is beside the point. Anyone who was cheering on the covid shutdowns is in [B]zero[/B] position to complain about wealth funneling to the top.

Look in the mirror. This is your fault. Lefties need to own and accept it and STFU.[/QUOTE]
He never even told you his position on covid

Why do you use autistic as an insult when you said you're autistic? Seems very strange

[QUOTE=Baller234;14885860]I think only a special needs autistic sped would raise this question in the first place. Even if the government were to raise taxes on the 1%, that money isn't going in your pocket and [B]it's not doing anything to decrease the wealth gap[/B][/QUOTE]That's 100% objectively false. A wealth tax is actually the number one way to control wealth gaps, so you literally can't possibly be any more wrong.

[QUOTE=Baller234;14885860]And that is beside the point. Anyone who was cheering on the covid shutdowns is in [B]zero[/B] position to complain about wealth funneling to the top.[/QUOTE] Why? How would staying open have prevented the transfer of wealth? Wouldn't the economy running normally have quickened the process, if anything?

[QUOTE=RRR3;14885864]He never even told you his position on covid

Why do you use autistic as an insult when you said you're autistic? Seems very strange[/QUOTE]All he has are NPC talking points. He can't go into depth on any of the 'whys' because he doesn't actually know anything.

[QUOTE=j3lademaster;14885794]It always baffled me how you and I are assessed a property tax based on the value of our assets(our house), and we[B] can't[/B] find a way to tax the assets of billionaires. Hedgefunds have 7/8 digit expense actuary departments to put dollar values on their assets to reel in investors all the time.[/QUOTE]

Can't or do not want to?

Lawmakers are not going to bite the hand that feeds them with a finely tuned taxed code. Biden's plan does not marry with the leaked stuff he said privately to his donors. In my eyes a wealth tax is fantasy. Never going to happen. It will be attacked with bullshit like the preying on public fear that it would not redistribute wealth rather it would shift it to foreign investors.

This is why I support expanding tax credits over a wealth tax. At least the EITC research showing a reduction in poverty provides some benefit. The most common argument against tax credits is the government picks winners and losers. No shit. At least the losers get [I]something[/I] through tax credits is my point of view.

Yes... they shut down small businesses during lockdown but Walmart, McDonald's, Amazon etc. we're all still in business and grabbed a huge chunk of market share. The plandemic worked to perfection.

[QUOTE=j3lademaster;14885871]All he has are NPC talking points. He can't go into depth on any of the 'whys' because he doesn't actually know anything.[/QUOTE]

Prove me wrong then.

Are you vaccinated? What was your overall opinion when it came to the Covid shut downs?

[QUOTE=tpols;14885914]Yes... they shut down small businesses during lockdown but Walmart, McDonald's, Amazon etc. we're all still in business and grabbed a huge chunk of market share. The plandemic worked to perfection.[/QUOTE]

He is saying the pandemic is disguising a fire that was already raging. Wealth redistribution to the 1% has been coming out of your pocket or your parents pockets for the last 40 years.

[QUOTE=Charlie Sheen;14885919]He is saying the pandemic is disguising a fire that was already raging. Wealth redistribution to the 1% has been coming out of your pocket or your parents pockets for the last 40 years.[/QUOTE]

Or one could argue that the pandemic was the equivalent of throwing gasoline on the fire.

[QUOTE=Charlie Sheen;14885919]He is saying the pandemic is disguising a fire that was already raging. Wealth redistribution to the 1% has been coming out of your pocket or your parents pockets for the last 40 years.[/QUOTE]
Yep. And neither party will do ANYTHING to address it. No matter who you vote for this will continue. Depressing stuff.

[QUOTE=RRR3;14885922]Yep. And neither party will do ANYTHING to address it. No matter who you vote for this will continue. Depressing stuff.[/QUOTE]

I don't know, I seem to recall one side being very insistent on re-opening businesses and getting kids back to school as soon as they could. In fact those cities and states were demonized for doing so.

Meanwhile I remember the other side fighting tooth and nail to keep the lockdowns going indefinitely for as long as they could, except of course when it came to the St. Floyd celebrations.

We will not allow you vax boys to rewrite history on this.

[QUOTE=Baller234;14885925]I don't know, I seem to recall one side being very insistent on re-opening businesses and getting kids back to school as soon as they could. In fact those cities and states were demonized for doing so.

Meanwhile I remember the other side fighting tooth and nail to keep the lockdowns going indefinitely for as long as they could, except of course when it came to the St. Floyd celebrations.

We will not allow you vax boys to rewrite history on this.[/QUOTE]

Over your head. They are trying to explain that this has been an issue for decades now, well before covid. Just go look at the graph in the OP.

[QUOTE=Bill Gates;14885926]Over your head. They are trying to explain that this has been an issue for decades now, well before covid. Just go look at the graph in the OP.[/QUOTE]

So then why weren't you guys saying this during the covid shutdowns.

Seems to me that if you were truly concerned with the well being of the middle class, or if you were truly concerned about too much wealth funneling to the top... shutting down the economy for an entire year seems like the absolute last thing you would want.

Yet you all cheered like good little lemmings.

This is the natural evolution of capitalism. The only way to remedy it is to tax the wealthy more to help even out the distribution. This is a reality that the right hates to accept. But it will only get worse and worse until we have no choice. Even the wealthy will be begging for it because they can not exist without a middle class buying their products.

And like I've said before, down the road, when AI and automation has completely wiped out the workforce. We will have no choice but to become communist. This isn't all a bad thing though. This is what humanity has been working toward for centuries. A society that simply doesn't have to work. Embrace it.

[QUOTE=Bill Gates;14885928]This is the natural evolution of capitalism. The only way to remedy it is to tax the wealthy more to help even out the distribution. This is a reality that the right hates to accept. But it will only get worse and worse until we have no choice. Even the wealthy will be begging for it because they can not exist without a middle class buying their products.

And like I've said before, down the road, when AI and automation has completely wiped out the workforce. We will have no choice but to become communist. This isn't all a bad thing though. This is what humanity has been working toward for centuries. [B]A society that simply doesn't have to work. Embrace it.[/B][/QUOTE]

Sorry, that's not actually a good thing for humanity. Don't project your lazy fantasies onto the rest of us.

Work keeps man humble. Work gives life balance. There is no play without work. There is no success without struggle. That is why the children of wealthy people who are spoiled from birth become depressed drug addicts.

Even Jesus was a carpenter.

[QUOTE=Baller234;14885921]Or one could argue that the pandemic was the equivalent of throwing gasoline on the fire.[/QUOTE]

It would not be a great argument.

The underlying fact is that 90% of this country was not prepared for any emergency because they do not have adequate savings. Or any plan for retirement. The pandemic was not the perfect storm. It distracts you from asking the more important question... why was the American worker or small business unable to survive a shutdown? What lead up to this?

[QUOTE=Charlie Sheen;14885930]It would not be a great argument.

[B]The underlying fact is that 90% of this country was not prepared for any emergency because they do not have adequate savings. Or any plan for retirement.[/B] The pandemic was not the perfect storm. It distracts you from asking the more important question... why was the American worker or small business unable to survive a shutdown? What lead up to this?[/QUOTE]

Even if that were true, you can't just automatically attribute that to some corrupt system.

It could also be due to people's poor spending habits.

[QUOTE=Baller234;14885929]Sorry, that's not actually a good thing for humanity. Don't project your lazy fantasies onto the rest of us.

Work keeps man humble. Work gives life balance. There is no play without work. There is no success without struggle. That is why the children of wealthy people who are spoiled from birth become depressed drug addicts.

Even Jesus was a carpenter.[/QUOTE]

Humans will have different things to work towards, personal projects and what not. But they will not be necessary for survival. Speaking of survival humans will eventually conquer death as well. We will edit the aging process right out of our DNA. You don't need to fear it though because you won't live long enough to see it. I'm just pointing out what society is naturally heading toward.

[QUOTE=Bill Gates;14885936]Humans will have different things to work towards, personal projects and what not. But they will not be necessary for survival. Speaking of survival humans will eventually conquer death as well. We will edit the aging process right out of our DNA. You don't need to fear it though because you won't live long enough to see it. I'm just pointing out what society is naturally heading toward.[/QUOTE]

Uh, and what does any of that have to do with embracing communism?

[QUOTE=tpols;14885914]Yes... they shut down small businesses during lockdown but Walmart, McDonald's, Amazon etc. we're all still in business and grabbed a huge chunk of market share. The plandemic worked to perfection.[/QUOTE]If you look at the graph, the decline in the middle class as well as the ascendence of the top 1% has been consistent for years, proving the covid lockdowns are a very miniscule factor. for the past 100 years there has been like... 3 years with deflation, several years with double digit inflation and typically an annual 3% inflation. Why is inflation harmful? Well, the $10k you have saved in your bank account now has $9700 in value compared to yesterday's, whereas assets are growing... and who owns all of the assets? Billionaires and corporations. Small 3% increments over a lot of years and THAT is what's bringing us to the trend represented in the graphs. People are fed these npc talking points that create these tribal politics as a smokescreen... hell look at this thread. Literally right off the bat it's "THIS WOULDN'T HAVE HAPPENED IF YOU VAXCUCKS DIDN'T SUPPORT THE SHUTDOWNS". All the while we inject 3 trillion into the stock market to grease the fatcats even further, which they just reinvest and create their own artificial money multiplier that kills the average Joe's savings. [I]That[/I] is what we're seeing in real time.

And small businesses never stood a chance, they have been irrelevant if we're talking big picture overall market for years. CME alone owns like 30% of the S&P and the Dow and most people pretending to understand our market on here's never even heard of them.