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Thread: The 1% will own more than the 99% by 2016, report says

  1. #701
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by imagep View Post
    So what? I didn't say anything about 80% of millionaires.

    I am still befuddled by those who believe that inheritance is a merit based accomplishment.
    because most of those people didn't inherit it. they earned it.

    since all it takes to be in the top 1% is an AGI of like 430k or more you are painting a lot of people with wide brush.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by ludin View Post
    because most of those people didn't inherit it. they earned it.

    since all it takes to be in the top 1% is an AGI of like 430k or more you are painting a lot of people with wide brush.
    Is $430K "rich" in say NYC, or Los Angeles? I'd guess no.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by j-mac View Post
    Is $430K "rich" in say NYC, or Los Angeles? I'd guess no.
    that has absolutely nothing to do without the federal government divides it's tax brackets.
    the top 1% consists of anyone that makes an AGI of 430k dollars or more.

    those are the people you are complaining about when you rant about the 1%

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by ludin View Post
    do you not understand how the federal reserve works? they control the money supply in the system. as the system needs more money or the economy expands. they add that money into the system.

    hence no 1 group of people can own it all. it simply isn't possible.
    Exactly what I referred to, quantitative easing.

    And, of course you're right that no one can possibly control all of the wealth. If just a few control half of it, is that a problem or not?
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JANFU View Post
    What do you think? The middle class is disappearing. At one time increases in productivity equated to wage increases.
    https://fortune.com/2015/01/19/the-1...6-report-says/
    The richest 1% of the population will own more than half of the world’s wealth by next year as inequality continues its relentless rise across the globe, a new report out Monday says.

    The report, by the U.K.-based charity Oxfam, shows that the top 1% have grown their share of global wealth constantly since 2010. After dipping at 44% in the wake of the 2008 financial crisis, it rose to 48% by the end of last year and is poised to top 50% by the end of next year.
    The dip in 2008 put them behind schedule. They're making up for lost time. No problem.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by dirtpoorchris View Post
    Who hits the reset button first? The 1% or the 99%?
    Neither. It all happens by magic.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Dittohead not! View Post
    Exactly what I referred to, quantitative easing.

    And, of course you're right that no one can possibly control all of the wealth. If just a few control half of it, is that a problem or not?
    Not to me. I don't have any wealth.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by j-mac View Post
    Is $430K "rich" in say NYC, or Los Angeles? I'd guess no.
    Sure they are. They have $430ks. That's more ks than I have. Maybe I need to move.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by j-mac View Post
    Is $430K "rich" in say NYC, or Los Angeles? I'd guess no.
    Probably not. $430K in my little burg would be like 17-18 years of average worker pay.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Dittohead not! View Post
    Exactly what I referred to, quantitative easing.

    And, of course you're right that no one can possibly control all of the wealth. If just a few control half of it, is that a problem or not?
    that isn't quantitative easing. that is something completely different.
    quantitative easing is the buying of assets by the federal reserve.

    when the economy has need of expansion and more money the federal reserve simply lets money come out of the reserve into the system.
    they are not the same thing.

    again define wealth. so far it seems to be thrown out there arbitrarily.

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