Posted on 12/30/2023 11:32:36 AM PST by Kaiser8408a
Bidenomics is the pride of the donor class.
After all, much of the Federal spending splurge in green energy has gone to big donors, including the Chinese.
The top 1% of US earners now have more wealth than the middle class.
Biden’s song. All he wanted to do was destroy the US middle class. And The Fed’s snakejuice flows to the 1%.
(Excerpt) Read more at confoundedinterest.net ...
(The top 1% of US earners now have more wealth than the middle class.)
And THIS is why they don’t care about the middle-class American taxpayer.
Inflation affects them to a very small degree; relatively speaking.
Lords will live up in the castle.
Serfs will live down in the fields. They will own nothing, but they will be happy.
People will forget that anything called “the middle class” ever existed. The rich people found those deplorable people inconvenient, so they got rid of them.
Not sure how accurate that is. I thought the middle class had wealth in real estate which is up, and generally have 401k accounts and pensions which are also up.
we worked for decades...made a mistake in not working a govt job...but now we have what we have, no defined pension for me...
I feel poorer every day.
The strength defending Bidenomics is that it only displays the current. I was watching a liberal money guy on Fox and he was exuberent about the fact that the inflation rate had slowed and tried to make that a God send. He said that the previous month of a 5% increase was a slowing since the beginning of 2023. But that’s where the spin starts (lies) and the BS begins. It finally came out that the previous year was a 35% increase. So having slowed to 5% isn’t any good when it is an increase from the privious 35% that didn’t go away. And I’m not hearing the term reversal mentioned anywhere. It took 3 years to get to this point. It’ll take longer than 3 years to get it back to where it started if it can at all and if uncle sugar lets it.
wy69
Well yeah.
Why else do you think we let those guys pick every President?
The Russians had a useful way of dealing with the ruling class. Hmmmm, I wonder...
The chart in the article shows that this is not a new trend.
I’d like to introduce you to a personal friend of mine, Vilfredo Pareto.
https://www.forbes.com/sites/jackkelly/2019/11/12/the-1-owns-almost-as-much-wealth-as-the-middle-class-will-the-rich-keep-getting-richer/?sh=232d9ca04323
I believe the lines crossed after the tax cut.
Even though the middle class share of wealth has fallen percentage wise, the absolute amount of middle class wealth has grown by about 3x.
So the real truth is that the typical family has become "better off" while the wealthy have become "much better off". I can certainly live quite happily with this. Those consumed by greed and jealousy have a more difficult time with it.
“The top 1% of US earners now have more wealth than the middle class.”
Proving the writer is an idiot. Earnings and wealth are like apples and steak.
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