Real estate prices in many of the top zip codes in America have doubled over the past 5 years. In some hotter markets in California, gains are in excess of 200%. The tech heavy NASDAQ is +121% over the same time period, helping buoy the richest amongst us to new heights.
According to Forbes’ Cost of Living Extremely Well Index, a basket of 40 luxury items, they’ve risen — uninterrupted — since 1982. Recession proof.
The inflation rate for the elite has been running hot since ’82, averaging 5%. Although it’s hard to get a hard reading on what the true inflation rate is for the wealthy, some argue it has been running in excess of 10% for the past decade.
Statistics released by the Federal Reserve revealed the top 1% now control a record 38.6% of America’s wealth. The bottom 90% of wage earners have been falling for 25 years — touching down at a 22.8% share in 2016, down from 33.2% in 1989.
Aside from wealth, the rich are increasing their earnings on an annual basis too, with reported incomes hitting a new high of 23.8% in 2016, up from 20.3% in 2013.
Warren Buffett believes the Dow will hit 1 million within 100 years, conservatively. All of these lofty projections and data points leave out the specter of pullbacks, an arrogant position given the historical likelihood of this being an impossibility.
One day, markets will dislocate, real estate prices careen lower, rich people flung from their windows directly into crematories, effectively leveling out these gross differences. Until then, however, let the good times roll.
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So much for “trickle down economics”, snicker….
And. what did bears-realists say? few years ago? you’re only rebubbling, you will only stretch homes and rentals further from the entry level base, you will only create another boombust reality, and it would all be fake. congrats
Start writing the book.
Robber Barons and their lackeys are fucking Commies. Obviously one needs to understand what exactly is a Communist.
https://www.washingtonpost.com/blogs/plum-line/wp/2017/09/28/hey-deplorables-trump-and-his-advisers-are-laughing-in-your-faces/?hpid=hp_no-name_opinion-card-f%3Ahomepage%2Fstory&utm_term=.8707cb76bd54
Trump will likely be successful in getting tax cuts through that will continue this income distribution trend. And he will be unsuccessful in getting import tariffs through, coal mining jobs, etc. Ironic that his idiot base respond to applause lines like “I’ll get rid of the ‘death’ tax” on estates worth north of 11 million.
The unwashed need to continue to be provided enough TV, health care, and junk food to keep them passive.
Without babies one has no future. The “Death Tax” myth you pump is societal breakdown. Think. Or. Look at Europe. You can do it.
You make my point. Thanks.
As a representative of Trump’s idiot base, Ironbird has demonstrated that they have no idea what the “death tax” is.
Look dude. If we cannot give to our children what we earned. Then we are Europe. No guns. No Free Speech. No God. Masters and serfs. The whole print money blowout all other competition is something else. Why the fuck do you think Monsanto owns the AG world? If only every dead farmer had to sell for your self serving Communist ideals. It all ready happened retard.
Inherited wealth is inherited power …i.e. royalty.
THAT is old Europe …Royalty …Inherited power. It is that which we fought a Revolution to escape.
Invest in corporations or open your own corporation. Or possibly be a professional who is the best in their field. Been that way for a long time.
Good luck with that soup. Pretty sure your grandkids will be wearing burkas and smelling some dudes ass praying ten times a day. Corporations are the nobility. Same game new name.
Dems would argue to break them up like banks…smh
Funeral stocks interesting…hedging CRSPR?
So…seriously, I’d like to hear opinions of those persons reading.
I find myself leaning toward the conclusion that wealth concentration of this magnitude is harming our society and our country and further hoarding will be even more detrimental.
What is right in terms of salary, wages, earnings, compensation or whatever you want to call it for high level execs?
What is fair in terms of corporate taxes?
A classic example would be the Walton family. Worth billions of $$ and banking more coin every day while the workers in their merchandise factories earn minimum wage and get by with subsidies from the government.
WalMart is in effect making tax payers foot part of the bill for their workers by forcing them to collect “welfare” type payments to survive.
What would happen if earnings of upper echelon managers/owners of corporations were tied to the base pay rate of their lowliest employee?
For example; if Joe executive earns $1MM and the lowest paid employee is earning $8.50/ hour, his income tax percentage might be 15%.
If he earns $2MM annually, and his employees minimum is still at $8.50, his tax rate goes to 20%. But…if he earns that same $2MM and his lowest paid employee is at $12.00, his personal tax rate stays at 15%.
Also, if he earns that same $1MM and his lowest employee is at $12.00 instead of $8.50 his personal tax rate drops to say 8%.
These are just hypothetical numbers but do you see what I am getting at? Incentivize employers to pay better wages by using a tax ratio other than you made $1MM, your tax rate is, xx%
It might come as a surprise, but life isn’t fair. It’s supposed to be hard, not easy. Just look around the world. The rich have figured out how to make their world less sucky—and they are envied for it.
People aren’t lookign for easy, but they are looking for a level playing field. The rich have figured out that the best investment is a well-palced political donation.
Just look at the “business” tax cut. If it goes through, we’ll see a lot more “samll businesses” pop up as CEOs incorporate to move their earnings from Personal Income rates to Business rates.
If Congress really wants more small business hirings, then they shoudl just give business tax credits when small businesses increase the number of people on their payroll! Cause -> effect
The problem, in my eyes, isn’t the accumulation of wealth, but wages. The fact that the rich are making more, as a percentage, means the gap will continue to increase. We’ve always counted on market crashes to equalize things — give middle class folks at chance at buying dips and getting rich. Having an income structure that is running away like this all but cements class structures, which will be passed on through generations — as the wealthy kids get shuffled into elite schools, continuing the trend.
Employers should be free to pay whatever they want and free individuals should be free to choose to accept the offered wage, or to go elsewhere. No minimum wage, not government interference at all …it’s ought to simply be one’s right to freely associate with whomever you choose. The fact that government subsidizes some people and shifts burdens to others should not be used as a rationale to restrict the right of adults to associate with whom they choose for whatever wage they can get. We are already far down the rabbit hole of tweaking markets and the right of individuals in order to compensate for injustices caused by government interference and we should resist the impulse to sink further.
A flat tax with the same rate on earned and unearned income with a decent sized personal deduction and no other deductions …not for interest on a home, not for charity, not for state and local taxes, not for solar, not for nutin’. And a stiff tax on inherited wealth to keep us from having to suffer from more generations of Bush et al.
Great idealism and daydreaming. However, your noble principles, as noble as they are, will never work. EVER! For as long as workers give up their labor in exchange for irredeemable currency, a.k.a. debt money, humanity can never achieve economic freedom. For as long as anybody, not just hofjuden, but anybody has the power to conjure debt currency ex nihilo, the humanity will always be in shackles.
Related, but separate subject.
Once one becomes a Super Rich mofo, in modern times, you invest and support the Communist narrative so as to subjugate your wide base poor class because it has become the new opium. This they don’t teach at the captured colleges.
BINGO
Being a Super Rich mofo will not help you if you are not part of the (existing) club. Look at Venezuela, look at Soviet Union and entire European eastern block. You will not find one example in communist countries where a non-zionist super rich mofo managed to keep his assets.
https://tinyurl.com/ydah8blv
Some say Vlad it the richest person on the planet. And I don’t believe he is a zionist.
I spoke of Soviet Union a.k.a. USSR. Not Russia which is no longer a communist country.
And I don’t know what is/not true re Putin… Apparently he is a master marketer/advertiser/strategist who, with a measly $100K budget spent on Facebook ads, can decisively sway the outcome of US elections while others can spend $2B and achieve nothing.
If you are a super-rich mofo with active brain cells, you distribute your assets internationally so even if your country (Venezuala, USSR) goes belly up, a good portion of your assets are untouched. If you don’t have the resources for that kind of distribution, then by definition you aren’t super-rich.
Well, you ahve two options:
1) Subjugate the poor through dependant economics (Democrat)
2) Subjugate the poor by pretending you support their socail causes (Republican)
You can see why most wealthy people prefer number 2: under that plan you can directly increase your riches much easier and just preach the Properity Gospel (the religious version is “Give me money and God will make you rich”, or the Capitalisitc one “all the rich are rich because they work hard, and everyone who works hard will become rich”)
Why the fuck should I care if the rich get richer? And how do the rich “control” all the wealth. They don’t control shit. My rich as fuck neighbor has 4 mansions in Carribean Islands and has 10 times the head-aches I do. He’s bleeding out cash non-stop on cars, houses, toys, maintenance, lawyers, insurance, etc. Why do I care? Good for him. He earned it. And he pays a shit ton of taxes.
If he wants to spend it or hoard it. So what. How the heck does that harm me or the poor down-trodden anyway. Causes me to sin from jealousy over his damn hot wife maybe. Is there fewer toys because he bought them all? So the top luxury items are less affordable. Will I miss not owning that 80ft luxury yacht that is now priced out of my range. Hell no, it was never in my range. Who wants to wax that thing anyway. One more thing to pay for. Damn it, poor me, guess my rotten kids will just have to be satisfied riding around in Dad’s used 17 ft Sea Ray.
The “rich” aren’t sitting around figuring out how to subjugate anybody you dumb bastards. They’re figuring how to make more money and protect what they have because they’re losing it faster every year.
Most of the ultra rich I know are actually fine human beings in the private sector who give large sums to very worthy causes, charities that couldn’t exist without their generous donations. They do more good with their private money than all the ridiculous spending from our government programs.
The ultra rich who use their influence in the public sector, yea they’re probably plotting your demise by at worst some paid Antifa protestor or white supremacist anarchy bullshit. Or through some lobbiest pushing an agenda. So what, have you looked at Washington lately? Not much getting done there.
Well said.