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In America: The Top 1% Own 32.1% of The Country's Total Wealth, The Bottom 50% Own 2.5%
Mish Talk ^ | 02/14/2022 | Mike Shedlock

Posted on 02/14/2022 8:55:55 PM PST by SeekAndFind

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To: Varsity Flight

(The actual exchange becomes THAT hard copy. The MUTUAL price for similar REAL-estate at the moment can be considered (consideration) “hard copy”


21 posted on 02/15/2022 12:25:56 AM PST by Varsity Flight ( "War by the prophesies set before you." I Timothy 1:18)
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To: Repeal The 17th

Nope. They can’t control women.


22 posted on 02/15/2022 12:28:19 AM PST by Varsity Flight ( "War by the prophesies set before you." I Timothy 1:18)
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To: Nomad577
They get us fighting a culture war so we won’t fight a class war

The opposite is also true.

Republicans, Neocons, and Conservative Inc. want us focused on economic issues, so we won't notice our decaying culture.

The GOP does nothing to stop drag queen story hour, gay marriage, LGBT Pride events in schools and the military, internet censorship, deplatforming, or toppling of statues and burning of our history -- but hey, they're fighting to reduce taxes by 2%. Whoopee!

23 posted on 02/15/2022 12:47:57 AM PST by Angelino97
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To: SeekAndFind

Rd later.


24 posted on 02/15/2022 12:54:24 AM PST by NetAddicted ( Just looking)
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To: SeekAndFind

Instead of concentrating on the top and bottom percentiles, I look at the middle two. Those two who are the 50 to 99th percentiles which hold 65% of the total wealth together.

And then I’d look at a comparison of which of the 4 groups pays what percentages of total collected taxes.


25 posted on 02/15/2022 1:04:44 AM PST by Gaffer
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To: TigersEye

Compare it to America capitalist era and see.


26 posted on 02/15/2022 2:25:44 AM PST by DesertRhino (Dogs are called man's best friend. Moslems hate dogs. Add it up....)
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To: SeekAndFind

The lower 50% contribute nearly nothing to society. They are rarely producers.


27 posted on 02/15/2022 2:27:22 AM PST by CodeToad (Arm up! They Have!)
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To: All

All the democrat billionaires should give back all their wealth to the indigenous peoples.


28 posted on 02/15/2022 2:27:33 AM PST by newnhdad (Our new motto: USA, it was fun while it lasted.)
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To: T.B. Yoits

The gold standard came about later. When we started out as a country, we were on a silver standard, with some gold coins for large scale transactions. Eventually with the 1849 gold finds in California, we ended up on a gold standard.


29 posted on 02/15/2022 3:20:20 AM PST by EvilCapitalist (Merry Christmas Illhan!)
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To: DIRTYSECRET

“God helps those who help themselves” I think that’s Benjamin Franklin.


30 posted on 02/15/2022 3:23:13 AM PST by EvilCapitalist (Merry Christmas Illhan!)
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To: SeekAndFind

The share of reported income earned by the top 1 percent of taxpayers rose to 21 percent, from 19.7 percent in 2016. Their share of federal individual income taxes rose to 38.5 percent, from to 37.3 percent in 2016.


31 posted on 02/15/2022 4:05:16 AM PST by DoodleBob (Gravity's waiting period is about 9.8 m/s^2)
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To: SeekAndFind

The percentage of wealth is a completely useless metric.

Show me the exact, inflation adjusted, median dollar wealth for each percentage point of USA population.

Compare that to the median wealth every five years going back to 1950.

How is government wealth calculated and apportioned?

How are endowments apportioned?

What is the stand alone value of a great University and how is that apportioned?

Way too many unknowns.


32 posted on 02/15/2022 5:25:54 AM PST by zeestephen
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To: SeekAndFind
Commies always point to wealth disparities to gin up the support of useful idiots to embrace socialism.

Then the useful idiots are surprised when they find out that now the 1% now own 100% of the wealth and they now own nothing.

33 posted on 02/15/2022 5:30:55 AM PST by Sirius Lee (They intend to murder us. Prep if you want to live and live like you are prepping for eternal life)
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To: Sirius Lee
--- :Then the useful idiots are surprised when they find out that now the 1% now own 100% of the wealth and they now own nothing."

A totally brilliant and apt AND provable observation. Kudos.

34 posted on 02/15/2022 6:16:52 AM PST by Worldtraveler once upon a time
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To: SeekAndFind

It is articles like this that expose the total ignorance of reporters. They have simply assumed that there is only so much wealth in the country, so that those who have a large share of it are unfair. In fact, in most cases, the opposite is true. Wealth is created by humans. It is not luck to create wealth, it takes skill and hard work. It’s created only when the product of labor exceeds the cost of the labor.

It’s luck to find a gold nugget while walking on a trail. It is not luck to create a gold mine using geology, history, expensive equipment, hard work and skill. The owners of gold mines pay for the labor in the mine via the law of supply and demand. The owners who don’t have the proper management skills and knowledge of the industrial processes to succeed, will fail.

It is totally irrelevant what percentage of wealth the rich have. What matters is the ability of people willing to work to be able to afford a comfortable lifestyle for their labors. That can only happen in a wealthy nation. That only happens when people are free.


35 posted on 02/15/2022 6:29:09 AM PST by norwaypinesavage (Capitalism is what happens when you leave people alone.)
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To: SeekAndFind
•50th to 90th Percentile Then 35.6%, Now 27.9%

The middle class gets hosed. Too busy making ends meet to realize the Democrats are taking their money and giving it to the poor.

36 posted on 02/15/2022 6:32:32 AM PST by 1Old Pro
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To: SeekAndFind
Misleading since the real issue is that of assets, and in this case it may be asks, who is the chief "owner" of the government assets: As reported here, the official poverty measure is based on cash income only, which fails to capture all the resources available to a family including tax credits and in-kind transfers. Also, the official measure of family resources is biased due to under-reporting of certain types of income that are commonly received by those with low reported income.
The Federal Benefit Rate, abbreviated as FBR, is the maximum amount to which an aged, blind or disabled person who qualifies for Supplemental Security Income (SSI) is able to receive in monthly cash benefits. In 2021, the maximum FBR is $794 for a single individual and $1,191 for a married couple...(https://www.medicaidplanningassistance.org/federal-poverty-guidelines) What programs use FPL guidelines? [AT LEAST 30 PROGRAMS USE THE FPL.] Several programs use either 100% of the poverty guidelines or a percentage multiple of the guidelines. For example, some programs use 125%, 150%, or 185% of the guidelines to determine eligibility. (https://www.medicareplanfinder.com/medicare/federal-poverty-level/#What-programs-use-FPL-guidelines)

See more at thread White House Says 10M Households Have Signed Up for Broadband Subsidy

37 posted on 02/15/2022 6:42:56 AM PST by daniel1212 ( Turn to the Lord Jesus as a damned+destitute sinner, trust Him to save + be baptized + follow Him!)
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To: SeekAndFind
Income Redistribution's Logical Conclusion Is Communism Jeffrey DorfmanFormer Contributor Policy
First, most of the income inequality stories are false. Second, once you admit that income redistribution is fair, there is no logical stopping point short of communism. Starting with the income inequality debate, the main problem is that most stories are based on pre-tax and pre-transfer income...
When we analyze U.S. income data after taxes and after government transfer payments, we find that inequality has actually dropped slightly since 1993. Using the data after all the income redistribution also shows much healthier growth in the average family’s income, with a 62 percent gain after adjusting for inflation from 1979 to 2007 according to this CBO report.

38 posted on 02/15/2022 7:05:20 AM PST by daniel1212 ( Turn to the Lord Jesus as a damned+destitute sinner, trust Him to save + be baptized + follow Him!)
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To: DIRTYSECRET

Judging from my few trips to Walmart, Americans are not starving.
The only starvation in this world is due to political hate/theft.
Tribe A hates tribe B, so they confiscate goods bound for tribe B.


39 posted on 02/15/2022 7:22:23 AM PST by EEGator
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To: Still Thinking

Maybe the bottom 50% ought to learn how to drive a car that doesn’t have 7 yrs of payments attached to it. Maybe they ought to forget having perms, nails done and having to dress in latest fashions.


40 posted on 02/15/2022 7:28:33 AM PST by oldasrocks
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