Curious.. what portion of taxes are paid by millionaires?
About 46%?
And what portion of this wealth was created by these millionaires?
The average person thinks the rich put their money under the mattress or bury it in the backyard.
Instead they invest it in companies that turn around and hire people. They buy big ticket items built and sold by people who make money off of the purchases.
Mrs. Gamecock had this conversation with a little lib who works for her and pointed out what the rich do with their money. The little lib locked up, didn’t know what to say.
Well thousandaires control 99.95 percent of the world’s wealth, I think we should go after them.
And the rest of the world does what with the other 59%?
My personal guess is that at least 43% of that leftover part is pissed away by entitlers and the like.
so what?
It is a certainty that a hundred years ago and certainly 500 years ago the total wealth was controlled by a smaller minority of people.
there are more people with greater wealth than in history
the very poor need to get it in gear and work more and harder
I support rich people and make it possible for me to support myself?
Not counting governments.
Okay.
Notice the title “expected to TAKE more” As if they just stole that money to begin with.
Just to keep things in perspective:
“The monstrous evils of the twentieth century have shown us that the greediest money grubbers are gentle doves compared with money-hating wolves like Lenin, Stalin, and Hitler, who in less than three decades killed or maimed nearly a hundred million men, women, and children and brought untold suffering to a large portion of mankind.” Eric Hoffer
And how much wealth do governments control?
If you include property and 401k savings along with the number of baby boomers reaching or nearing retirement age, I would say 17 million millionaires in the world seems low.
“Millionaires control 41% of world’s wealth, expected to take more”
That headline needs to be changed. Wealthy people don’t “take” wealth. They create it.
When I was a kid a “millionaire” was “rich”. Not so much anymore.
I’m surprised they didn’t use a more generous definition of millionaire to make the figure sound more supportive of the left’s positions. They did make it households instead of individuals, which is a little shady (Mr. and Mrs. Joe Slightly-Above-Average might each have $500,000 in their 401(k)’s, Roth IRAs and bank accounts taken all together, which, having reached normal retirement age, the could “easily monetize”, but neither is a millionaire) but they limited the assets considered to “easily monetizable” assets, thereby excluding real estate.
I’d thought the standard definition of millionaire was net worth of one million dollars or more, but the definition they use both catches folks who fail that definition (since million plus in easily monetizable assets doesn’t say anything about outstanding debts) at leave out folks who meet it (by excluding, for instance, real estate holdings).
And what percentage of the world’s jobs do those millionaires create?
A million (or two) doesn’t buy what it used to, at least in the US.
A good many of these “rich” take risks with their money that most of us would never dare try. Their risk has been rewarded. But watch what happens if the real estate or stock market crashes. A lot of these “rich” will be paupers in short order. Because of their nature, they won’t stay paupers for long.
Look at how many times Trump has gone belly up and has bounced back.