Fat cats out of control: 1% owns 82% of wealth

[Najnaj]

You do understand a lot of posters here are part of that 1% purely based on where we live.

We are not. The 1% is super wealthy and even being from one of the wealthiest countries in the would not place you in that group. Ironically it might somewhat be the other way around. Many poor countries are so due so some people hoarding all the resources.

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I think people love the idea of distributing the wealth before they realize they're likely in the top 5%. I make a starter wage in Ireland of €24,000 , that's not considered rich in any ones books but my income is 25 times the global average and I am in the top 2-3% of earners. A lot of people here who are in the later stages of their careers are likely in the top 1% and don't realize it

Again, no. The top 1% is super wealthy. You do not belong in this group with less than 9 figure assets. Being very comfortably off is not nearly enough.

[NineSpine]

We are not. The 1% is super wealthy and even being from one of the wealthiest countries in the would not place you in that group. Ironically it might somewhat be the other way around. Many poor countries are so due so some people hoarding all the resources.

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Again, no. The top 1% is super wealthy. You do not belong in this group with less than 9 figure assets. Being very comfortably off is not nearly enough.

Top 1% is equivalent to about $32,000 per year in US currency, because of the huge number of extremely poor people in the world.

[Noradin]

http://www.bbc.com/news/business-42745853

Still waiting for jobs and cash to trickle down.

Trickle down only works for piss and feces.

[NineSpine]

I think people love the idea of distributing the wealth before they realize they're likely in the top 5%. I make a starter wage in Ireland of €24,000 , that's not considered rich in any ones books but my income is 25 times the global average and I am in the top 2-3% of earners. A lot of people here who are in the later stages of their careers are likely in the top 1% and don't realize it

Part of the problem with this is that you can't compare incomes between countries the way they are being compared here, because the cost of living is also different in different countries. In a lot of countries, you can live a fairly comfortable life on a much lower income than you can in the United States, just like how even within the U.S. the cost of living difference between Manhattan and a random city in the midwest is going to be huge, to the point where you can live more comfortably than you could with double the income in Manhattan.

[Corroc]

We are not. The 1% is super wealthy and even being from one of the wealthiest countries in the would not place you in that group. Ironically it might somewhat be the other way around. Many poor countries are so due so some people hoarding all the resources.

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Again, no. The top 1% is super wealthy. You do not belong in this group with less than 9 figure assets. Being very comfortably off is not nearly enough.

Its 30k year. No where near super wealthy.

[Cruor]

Oh there are solutions, the problem is there isn't enough political will to carry them out.

Care to enlighten me as to what those solutions are?

[Slakerose]

Orwellian society or something close, new world order bullcrap. People need to stop being part of the system and make a stand against the illusion they are setting up as "jailed/enslaved human society in their image"!

[Cyanu]

well such a shame merit does not tickle down along with money, that would teach those plebs to help themselves

and don't even think of suggesting minimum wages and taxing the rich, do those and we'll be living in communist gulags before we know it

/s

[cparle87]

When I clicked on this thread I thought it was going to be about feline obesity.

Just saying.

So did I. I r disappoint.

[HardlyWaken]

I’m not sure why everyone cares so much... the economy isn’t built around their paychecks. If suddenly everyone made more, prices would just go up and guess what would happen. Le gasp, they’d end up with it again. You either do something with your life and make a good living or you don’t, no amount of wage manipulation will fix that because if prices rise, and you’re useless, you will just be out of a job to someone overqualified and much more competent than you. The world isn’t a mystical place. Do something that adds value, live well, or don’t and.... don’t. People often fail to see how they impact their own outcomes, but it’s a LOT larger portion than “the 1%”. You don’t need millions of dollars to make it in this world, and if everyone was a millionaire, no one would be.

[Deleted]

The trick is to build a business that provides services to the people with money and profit.

If you're lucky, they even buy you out eventually. That's what I am hoping for anyway

[Zelk]

we should probably just get it over with and eat the rich

[Corroc]

I suggest you follow your own advice.

The super-rich have been increasing in wealth despite any corresponding improvement in their own productivity. Workers have had their real wages flatline for four decades. There is no benefit to the economy from the super rich stealing the labour value of their workers, and a considerable downside.

As for the ugly Malthusian dog whistle stuff, that was debunked two hundred years ago.

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There is nothing particulary special about the super rich. The defining characteristic is that they tended to be born at certain specific dates in history and had access to technology or markets no one else did-Bill Gates for examples booked thousands of hours in a computer club near his home he hacked into to use for free (they were very expensive), whilst most people in the country had never even seen a computer.

These people aren't particulary hardworking or intelligent, at least no more so than most professionals. They were just lucky. People tend to fetishize billionaires as being special when they aren't for no reason: it is similar to the "divine right of kings". I suspect the people who do this have distant relationships with their parents , and like to fetishize people they see as powerful as some kind of father surrogate.

Typical american, thinking that money has borders. Rich people are investing all over the world. Not just the rich people in america or europe. The rich people in asia also. I find it funny to always see this money in money out theory where the money just circles around inside one country.

Ps. I have no fucking idea what is malthusian dog whistle. Are you trying to look smart here or something?

Edit. You know there is reason why albert einstein said compound interest is 8th miracle of the world. You dont have to be super rich to get started. But if you keep it up for multiple years like the rich people are doing right now, you can end up in good place.

[Deleted]

There should be minimum wages ofc. But not higher taxation. I live in germany and people here are crying out for more money because they feel exploited by their Bosses, tho they get 2% more wage. And I am totally fine with that, its their right, they can use it in their interest. But a higher taxing for the higher income class would lead to nowhere but more shifting of capital to other countries. Only way to prevent this would be a international taxing system. And this wont happen. People here claim that they are more productive and their prosperity is shrinking at the same time. But thats bullshit. The wages are decided by a group of employers and the labor union and the wages rise parallel with the rate of inflation. So goods are getting more expensive, but people are getting the difference from last years price as a bonus on their wage. People feel exploited without a reason, its just pure left-populism. My advice would be a better education system and a unconditionally pension to fight against the poverty of old people who need to collect bottles. There is a high gap between rich and poor and the best way to fight poverty is boosting the education system.

[Regalia]

I’m not sure why everyone cares so much... the economy isn’t built around their paychecks. If suddenly everyone made more, prices would just go up and guess what would happen.

That's because Rich people aren't earning enough money.

[Deleted]

Ps. I have no fucking idea what is malthusian dog whistle. Are you trying to look smart here or something?

You can google the term. I am not going to communicate in text messages so everyone understands me. You are not under an obligation to respond if you are out of your depth.

[Regalia]

I’m not sure why everyone cares so much... the economy isn’t built around their paychecks. If suddenly everyone made more, prices would just go up and guess what would happen.

That's because Rich people aren't earning enough money.

You either do something with your life and make a good living or you don’t, no amount of wage manipulation will fix that because if prices rise, and you’re useless, you will just be out of a job to someone overqualified and much more competent than you.

Again, not the problem, it's about them not giving fair wages for tax reductions and or provide said amount of Good Jobs.

Rich people need to held accountable for paying Taxes, they clearly aren't in the U.S. as the gap gets wider and wider and the poor get poorer.

[HardlyWaken]

That's because Rich people aren't earning enough money.

I get that’s sarcasm and a bit tongue and cheek, but here’s the thing. I’m not saying they need more money or maybe even “deserve it”, but the point of a company is to make money. These top dogs live in an entirely different expense bracket. Short of envy, there really isn’t much reason to give a shit because the general economy is not built around being a millionaire.

And having these 1% people has offered a lot of value over the years that is lost. They pay a majority of our taxes, which often supports the common wealth and people truly in need (and some leeches as well), and having that “fluff” allows them to be riskier and often leads to great and necessary innovations. If everyone was simply living “comfortably”, there is a lot we’d have missed out on.

Point is. The world will never be viewed as fair as long as there are envious people, but frankly, people need to realize that this 1% topic really doesn’t mean anything. They could have 99% of the money, but as long as the economy for standard living is aimed for the rest of the people with only 1%, it means fairly little.

[Deleted]

The trick is to build a business that provides services to the people with money and profit.

If you're lucky, they even buy you out eventually. That's what I am hoping for anyway

That's a terrible idea in an economy where wealth is flowing to the top.

It is much easier to start a business catering to the super-rich. They have the money. Quite bad businesses that do this are prospering while businesses that are good but cater to the public are going under.

You must have seen businesses that look completely pointless and sell apparently worthless crap that somehow survive year after year. It is because of the demographic they appeal to.

Your approach would be like trying to start a business selling to the homeless.

[Regalia]

Point is. The world will never be viewed as fair as long as there are envious people, but frankly, people need to realize that this 1% topic really doesn’t mean anything. They could have 99% of the money, but as long as the economy for standard living is aimed for the rest of the people with only 1%, it means fairly little.

Nobody is talking about people wanting to be the 1% all we want are better wages which they're obviously not providing like you suggest.

Hence the Middle Class is Shrinking in the U.S. and continues to.