General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRobert Reich: 801 US billionaires control a record $6.2 trillion in wealth. The bottom 50% of Americans control $3.7T
in wealth.
When 801 people control more wealth than half a countrys population, we have a very serious problem.
Link to tweet
WarGamer
(15,705 posts)What does that tell you?
aocommunalpunch
(4,366 posts)WarGamer
(15,705 posts)SWBTATTReg
(24,304 posts)sadder about this picture, is that our taxes, our contributions via our soldiers, our public servants, the employees working by the tens of millions, w/ their taxes they are paying government entities, make this Country what it is. And these people contributions, w/ so much wealth? These 800 people? I know that some of them will/have donated vast sums, such as Bill Gates and Warren B., and others, but a lot of them haven't and won't. They'll flee overseas to avoid ever any taxation.
And this transfer of wealth? It all mostly came at the beckoning of republican tax laws enacted, and lax capital gains taxes, etc., or stocks never sold (so capital gains is never 'realized' per the capital gains tax law (must be sold to have 'gains'). These people have realized that not selling the stock, and/or loaning against it (not selling it ever), and using the dividends to pay the loans, etc., means that they never ever have to sell the securities. And this is just one of the tricks that they use to avoid paying anything to Uncle Sam, ever.
It's not fair, but it still goes on.
moondust
(20,506 posts)big gubment didn't give all that to them greedy welfare queens...thanks to Saint Ronnie and his "trickle down" approach!