Pat Roberts, Jeff Flake and few more should have a hedge fund.
Posted on 05/17/2020 5:33:37 AM PDT by lionstar
(MPN) — A new report from the Institute for Policy Studies found that, while tens of millions of Americans have lost their jobs during the coronavirus pandemic, America’s ultra-wealthy elite have seen their net worth surge by $282 billion in just 23 days. This is despite the fact that the economy is expected to contract by 40 percent this quarter.
The report also noted that between 1980 and 2020 the tax obligations of America’s billionaires, measured as a percentage of their wealth, decreased by 79 percent. In the last 30 years, U.S. billionaire wealth soared by over 1100 percent while median household wealth increased by barely five percent. In 1990, the total wealth held by America’s billionaire class was $240 billion; today that number stands at $2.95 trillion.
Thus, America’s billionaires accrued more wealth in just the past three weeks than they made in total prior to 1980. As a result, just three people – Amazon CEO Jeff Bezos, Microsoft co-founder Bill Gates and Berkshire Hathaway’s Warren Buffet – own as much wealth as the bottom half of all U.S. households combined.
(Excerpt) Read more at themindunleashed.com ...
They’re stealing from the little people.
They also own companies that employ a lot of people, invest, lowering the cost of capital, and spend into the economy, whereas the “lower half” buy smokes and lottery tickets.
My 401k dropped by 25% in the first pandemic month. It has, since, recovered somewhat. It is now down about 5% from the pre-pandemic amounts. This means that this month I have made an HUGE “profit.”
This article is irrelevant to anything except, the “rich people bad” narrative. Hey, hippies! Poor people do not employ you. Rich people do. If you want the economy to move, enjoy your iPhones and Starbucks’ coffee, the inevitable evil is some rich guy is profiting off that. Oh, and a host of retirement funds own Apple and Starbucks stock.
Support Trump or not, his weakness is putting too much emphasis on the stock market as a measure of a good economy
He has not helped the middle class reach the standard of living they enjoyed in the Eighties.
Thus why it was released.
They also own companies that employ a lot of people, invest, lowering the cost of capital, and spend into the economy, whereas the “lower half” buy smokes and lottery tickets.
= = = = = = = = =
Turning into a ‘new(er)’ world on FR.
Wasn’t all that long ago your above statement wouldn’t really ‘raise an eyebrow(or two)’ but it wouldn’t surprise me if you got FLAMED over your VERY TRUE, realistic remarks.
Even if Gates is not ‘into it’, he is/was the cause (or part of) that made his company what it is - like it/him or not....
The rich get richer and the poor go broke.
Hmmm, I wonder how much Pelosi’s husband has made off of the crisis so far. I am sure there were many properties that went bankrupt in CA and he just happened to swoop in and buy them up.
Indeed. There is a change in the winds, and it isn’t looking good.
Pat Roberts, Jeff Flake and few more should have a hedge fund.
My son started a small business about 10 years ago. He just got a grant from the CV19 stimulus of $405k. He’s paying off the mortgage of one of his large facilities.
Meanwhile, the guy that built my garage got $60k.
It’s the government handing out money willy nilly again.
Heck, I’m working from home and saving 3 hours a day and a tank of gas every two days, not to mention downtown parking, and that is after tax dollars.
Bull hockey. His measurement is jobs and everyone had a job that wanted one before China unleashed its biological weapon.
“They also own companies that employ a lot of people, invest, lowering the cost of capital, and spend into the economy, whereas the “lower half” buy smokes and lottery tickets.”
Really ??? So guys like bezos and Wal Mart were allowed to stay open but little mom and pop shops who sell the same exact product were deemed non essential and forced to close.
We have a severe inequality in this country and it’s getting worse every year and folks like you who blame and look down on the little guy who is getting screwed will wonder why these folks will having enough and voting in socialism.
Before the pandemic about 40-45% of the country is doing great the other 55% was making $10-11 hr and no benefits.
I have been in employee benefits business for 35 years and the have nots is growing every year.
Envy and resentment against achievement are what lefturd loons do
Not exactly. He’s always been a 401k tout since elected. He’s dropped even mentioning the debt and spending. He was never gonna do anything about that anyway.
Mr. Potter, is that you?
“Just remember this, Mr. Potter, that this rabble you’re talking about, they do most of the working and paying and living and dying in this community.”
You actually think that all working people do is buy “smokes” and “lottery tickets”?
A lot of the super-rich in this country made their money via financial engineering vs actually producing something.
Good on you, Gen.
Of course they had jobs. But they still were not approaching middle class status of the Eighties.
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