The richest 1 percent now owns more of the countrys wealth than at any time in the past 50 years

Source: Washington Post

The wealthiest 1 percent of American households own 40 percent of the country's wealth, according to a new paper by economist Edward N. Woolf. That share is higher than it has been at any point since at least 1962, according to Woolf's data, which comes from the federal Survey of Consumer Finances.

From 2013, the share of wealth owned by the 1 percent shot up by nearly three percentage points. Wealth owned by the bottom 90 percent, meanwhile, fell over the same period. Today, the top 1 percent of households own more wealth than the bottom 90 percent combined. That gap, between the ultrawealthy and everyone else, has only become wider in the past several decades.



https://www.washingtonpost.com/news...-in-the-past-50-years/?utm_term=.478fc185a0c9
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so as a typical liberal you want to steal from the rich at gun point or help the poor earn money too?

 

Anonymous sourses say wealth envy is at its highest point in the last 50 years.

 

I'm sure envy is a big part of it. Imagine a liberal saying, "Damn, those rich people are so smart. I wish I was that smart and everybody wanted to buy what I invented too". Instead, liberals encourage them to attack those who are their superiors. If a society does not respect the right people it will collapse yet that is what liberalism is doing.

 

Granny says, "Dat's right - dey all rubbin' shoulders with the Donald...

Census Bureau: 5 Richest Counties Are D.C. Suburbs
December 7, 2017 | The five richest counties in the United States when measured by median household income are all suburbs of Washington, D.C., according to the American Community Survey data released today by the Census Bureau.

 

how much should they be allowed to own in a perfect libcommie world wherein govt violence is looked upon with great favor.

 

All of it, right after they pay 35% in Taxes

 

top 1% pay 42 of all federal income taxes now not 1% as they should pay.

 

No they don't

 

true I was wrong its actually that the top 1% pay 46% of taxes. But don't let always being wrong stop you from being a perfect liberal parrot!

According to a projection from the non-partisan Tax Policy Center, the top 1 percent of Americans will pay 45.7 percent of the individual income taxes in 2014—up from 43 percent in 2013 and 40 percent in 2012 (the oldest period available). (Tweet this)

 

I'm saying this DON'T Pay the nominal rate ... are slow today?

If the combined about is 46%, imagine what the deficit would be is the paid their 35%

 

imagine what the deficit would be if the bottom 50% paid taxes instead of leeching off the rich?

 

So you you're leeching off the rich?

Where is that line, and how do I get in it.

 

why change subject? imagine what the deficit would be if the bottom 50% contributed rather than leeched?

 

Are you saying 50% of Adult Able Bodied Americans don't pay takes?

 

High-Income Americans Paid the Majority of Federal Taxes. In 2013, the bottom 50 percent of taxpayers (those with AGIs below $36,841) earned 11.49 percent of total AGI. This group of taxpayers paid approximately $34 billion in taxes, or 2.78 percent of all income taxes in 2013.Nov 19, 2015

 

Well we all know why ...

Some are in College
Some are disabled
Some are Unemployed
Some are freaking Old

 

So you don't recognize the danger it poses to democracy and economic strength. Got it. It's so much easier and fun to use it to demean those who are concerned. It also shows one's ignorance of the facts.

 

"Trickle Down," that feeling you get when someone pisses on your back and then tries to convince you it is just raining ...

 

The only danger it poses is that toward the wealthy as wealth envy grows among the masses.

 

LOL, you mean 50% of the nation is either in college, disabled, unemployed, or too old to do anything? You have lost this argument, completely lost it.

 

You're wrong. You are not informed and so apparently, like trump, you believe that "if it were known, you'd know it, and since you don't, nobody does". ....Like "nobody knew healthcare was so complicated!" Yes Donny, informed people knew.

 

So you cant dispute me so just jump into insults. Typical from the violent alt left. Pleaee stay away from baseball fields.

 

I really don't get how, still today, that people still think tax cuts for the rich creates jobs. with all the facts to the contrary (compare states that raised taxes to those that gave tax cuts to the rich and how they are doing) along with 40 years of nothing but wealth accumulating onto the top as jobs move overseas, pay remains stagnant, benefits are cut,a nd people are working harder than ever and struggling.

You have companies like Coca Cola, Amgen saying they will give tax breaks to their shareholders, not to create more jobs. You have GE who just laid off 15K people, you think they are going to bring those jobs back when they get a tax break? Hell no they aren't.

It's no coincidence that this rate of wealth disparity, which has long surpassed what was happening before the great depression, started with REagan and the drastic cutting of taxes for the wealthy.

I don't get how a human brain can continue to buy this BS. Republicans even admitted that their donors demanded they get a tax cut or they would stop funding them. It's basically proving the republicans are working for their donors, not the people. They aren't even hiding it, and yet, people are still stupidly making that argument.

What the heck is wrong with people? And how scummy do you have to be to be a millionaire or billionaire and you just want even more? My god, you have more money to live well beyond lavishly for generations, why do you need more? What happens when the whoel thing crumbles and the people put your head on a pike?

 

The US is a very, very wealthy nation. The distribution of this wealth is more skewed to the upper class compared with other industrialized nations, in fact it's a bit shocking. This isn't accidental, it's the result of a process begun some 37 years ago, which coincidentally was the beginning of "trickle down" economics or as GHW Bush liked to call it - voodoo economics. The transfer of income / wealth was on......

In addition to measuring wealth by quintile, a relationship to consider is average (mean) wealth (net worth) per adult to median wealth per adult. Most western industrialized nations have mean wealth of 2x to 2.8x what the median is. In the US it's 6.95x. In other words, a huge difference in how wealth is distributed. The information in the below link is from the Credit Suisse Annual Global Wealth Report. They've been doing this for years and is considered accurate, particularly for countries with good record keeping........

https://en.wikipedia.org/wiki/List_of_countries_by_wealth_per_adult