General Discussion

mnhtnbb

(32,192 posts)

38. No source for the numbers

Sat Nov 30, 2024, 05:33 AM

Nov 30

but "wealth" to me implies net worth, which would be the valuation of all assets, including equity of all stocks, minus liabilities . It's not just earned income.

The Dow Jones Industrial average was at 13,000 this time of year in 2012; yesterday it flirted with closing at 45,000. Timely and prudent investing in the market over the last 12 years has created a lot of very wealthy people, mostly during the tenure of Democratic administrations.

It doesn't change the point that those earning minimum wage are never going to amass the fortunes that these billionaires have.

https://futures.tradingcharts.com/historical/DJ/2012/0/continuous.html

Edit history

Please sign in to view edit histories.

Recommendations

1 members have recommended this reply (displayed in chronological order):

love_katz

68 replies

= new reply since forum marked as read

Highlight:

3 words... [View all] onecaliberal Nov 29 OP

It's foul. Lunabell Nov 29 #1

They are disgusting human beings Clouds Passing Nov 29 #2

One of the worst things about billionaires is that they inspire envy. Yavin4 Nov 29 #3

Yeah ThePartyThatListens Nov 29 #4

Shhh don't distract the useful MAGAts Blue Owl Nov 29 #5

REID-out VERY depressing tonight. elleng Nov 29 #6

Right on! MLAA Nov 29 #7

Sorry Cirsium Nov 29 #8

I appreciate 'practical' suggestion, and you're right, but 'remedying' the crap they're about to put us through elleng Nov 29 #10

This needs a sarcasm smiley. Some people might not get it, lol ms liberty Nov 29 #12

You're not wrong: onecaliberal Nov 29 #23

My bad Cirsium Nov 30 #37

This message was self-deleted by its author ShazzieB Nov 29 #20

Thing is jcanuck Nov 29 #9

I agree. I'm sickened by the fact that we won independence from a monarchy, set up a system that relied on informed LT Barclay Nov 29 #30

Bill Gates used to be one of those. Kablooie Nov 29 #11

Which isn't necessarily a bad thing, but we are relying on billionaires to gain a conscience. I believe those decisions LT Barclay Nov 29 #31

Sadly, we are also relying on the public to elect people with a concience. progressoid Nov 30 #36

The majority of the public has a deep psychosis. But I still think that putting decisions in a place where an election LT Barclay Dec 1 #67

How much will it take for them to feel like they have enough? Why do they need more than what japple Nov 29 #13

It's not really about Linda ladeewolf Nov 30 #41

I agree, it is a disease, an obsession. Trust_Reality Nov 30 #43

Is there any place where they actually pay that low minimum wage ? JI7 Nov 29 #14

Here in PA, the state's minimum wage is the same as the federal - $7.25 BumRushDaShow Nov 29 #15

I do think they should still raise it JI7 Nov 29 #16

They definitely need to raise it BumRushDaShow Nov 29 #18

To me the problem with that is that the minimum wage used to be starter jobs that young people took to get a start and LT Barclay Nov 29 #32

Taxing them isn't enough Charmin One Nov 29 #17

2 Words Nigrum Cattus Nov 29 #19

So, why hasn't the last four years included a dime in min wage? James48 Nov 29 #21

That is the question isn't it? onecaliberal Nov 29 #24

How does Musk earn 248B? What am I missing? Honda's gross profit is about 32B Scrivener7 Nov 29 #22

No source for the numbers mnhtnbb Nov 30 #38

$323 billion (today) Polybius Nov 30 #46

I think "It takes money to make money" is pretty much how capitalism works. Trust_Reality Nov 30 #48

"We can have democracy in this country, or we can have great wealth concentrated in the... FailureToCommunicate Nov 29 #25

Instead of commissioning a yacht... GiqueCee Nov 29 #26

You know, Bernie was right. We need a revolution. KPN Nov 29 #27

Chris Hedges has been saying the same thing. I'm waiting for someone to step into the mantle of leadership, preferably LT Barclay Nov 29 #33

Yet Maga thinks its immigrants stealing their jobs and transgender Tribetime Nov 29 #28

Distractions that many people fall for. Trust_Reality Nov 30 #50

They have everything they could ever want or need including a tax cut TSF promised them. Deuxcents Nov 29 #29

Massive gulf RANDYWILDMAN Nov 29 #34

If only people could change for the better JR11 Nov 29 #35

end citizens united. mopinko Nov 30 #39

What about charities Falcon101 Nov 30 #40

Eat The Rich HarryM Nov 30 #42

It'll help them prove their patriotism and sincere love of AND FOR their country. calimary Nov 30 #44

Question about Musk Polybius Nov 30 #45

Impressive TBF Nov 30 #49

It was far from "just interest" Polybius Nov 30 #54

Two words... government contracts. druidity33 Nov 30 #59

You're not wrong Polybius Nov 30 #63

Wowee - TBF Nov 30 #60

I don't worship him Polybius Nov 30 #64

Perhaps in NY; here in TX the gas guzzling SUV's TBF Nov 30 #65

I own one too, and don't have a home charger Polybius Dec 8 #68

2 words ..... Hotler Nov 30 #47

I'm with you. Trust_Reality Nov 30 #56

I'm learning too, this is how it starts, two people, then get a third...... start here in Colorado Hotler Nov 30 #58

Anything over a billion is obscene. bif Nov 30 #51

K&R spanone Nov 30 #52

The way to deal with this is the tax code - TBF Nov 30 #53

2 more words, CORPORATE WELFARE. Bluethroughu Nov 30 #55

That doesn't sound like actual socialism to me. Trust_Reality Nov 30 #57

Corporate welfare, "their people my friend", says Romney Bluethroughu Nov 30 #66

truly obscene. Who the fuck needs that much, and if you have it, why not use it for good instead of evil?? Evolve Dammit Nov 30 #61

3 words...eat the rich alterfurz Nov 30 #62