The 50 Richest Americans Are Worth as Much as the Poorest 165 Million

[Beet]

https://nypost.com/2020/10/08/just-59-americans-own-more-wealth-than-half-the-country-data/

The pandemic is exacerbating wealth disparities that were already bad. Billionaire wealth is surging with the NASDAQ, while small businesses and service workers are getting hammered.

The top 10 percent now own more than 88 percent of corporate equity and mutual fund shares, meaning they benefit most from the booming markets, according to Bloomberg News.

[GP270watch]

https://nypost.com/2020/10/08/just-59-americans-own-more-wealth-than-half-the-country-data/

The pandemic is exacerbating wealth disparities that were already bad. Billionaire wealth is surging with the NASDAQ, while small businesses and service workers are getting hammered.

The top 10 percent now own more than 88 percent of corporate equity and mutual fund shares, meaning they benefit most from the booming markets, according to Bloomberg News.

 This type of inequality never ends well, read your history books.

[🐒Gods of Prosperity🔱🐲💸]

The Federal Reserve figures are 50% of households, not individuals, so not 165 million, though I'm not sure how many. I believe larger households tend to have larger incomes as well.  But it's still a lot of people. 

In spite of COVID, the household wealth of the bottom 50% went up substantially from Q2 2019 to Q2 2020:  $1.80 T to $2.08 T.   I guess that's not surprising when you consider that UI + stimulus checks meant a lot of people were getting more money than they would be normally.  Could see a drop for Q3.

[The Free North]

This is mostly a function of stock market insanity. The vast majority of Bezos wealth, for example, is tied up in his 50M+ Amazon shares. These sorts of stats don't mean very much beyond that. Income growth by quintile by comparison tells you a lot more (and is still bad of course).

[Mr.Bakari-Sellers]

Of course most of the 50M jobs that left were blue collar jobs, just like in 2008, where newspaper jobs left and we got the internet. Many people made their living as Newspaper editors, making white collar salaries and also mail man jobs are leaving

[○∙◄☻¥tπ[╪AV┼cVê└]

Bloomberg, Soros, and others give Democrats money, while Bezos owns the Washington Post, so don't expect establishment Democrats to bite the hand that feeds them.

[NEW JERSEY FOR MENENDEZ]

Bloomberg, Soros, and others give Democrats money, while Bezos owns the Washington Post, so don't expect establishment Democrats to bite the hand that feeds them.

You don't even sound like Bernie, you sound like

[Wakie77]

https://nypost.com/2020/10/08/just-59-americans-own-more-wealth-than-half-the-country-data/

The pandemic is exacerbating wealth disparities that were already bad. Billionaire wealth is surging with the NASDAQ, while small businesses and service workers are getting hammered.

The top 10 percent now own more than 88 percent of corporate equity and mutual fund shares, meaning they benefit most from the booming markets, according to Bloomberg News.

 This type of inequality never ends well, read your history books.

Yes but starting in 1980 it started moving out of control.

Some inequality is good because it inspires people to innovate and work hard.  Too much inequality results in a class system which traps people, destroys the progress of the society, and historically results in the collapse of said society.

The single biggest thing driving the equality is the way that Capital income is taxed so much lower than Labor income.

[HillGoose]

man i want to be one of those 50 people so bad, massive respect for them.

[Wakie77]

man i want to be one of those 50 people so bad, massive respect for them.

Of the top 25, 7 of them inherited their money and 2 of them married it.

Sooo …. not sure how those 9 deserve respect ….

[HillGoose]

man i want to be one of those 50 people so bad, massive respect for them.

Of the top 25, 7 of them inherited their money and 2 of them married it.

Sooo …. not sure how those 9 deserve respect ….

ok f!ck the 7 who inherited but the 2 who were on their hoe game enough to marry that kind of money clearly put in the work

[🐒Gods of Prosperity🔱🐲💸]

https://nypost.com/2020/10/08/just-59-americans-own-more-wealth-than-half-the-country-data/

The pandemic is exacerbating wealth disparities that were already bad. Billionaire wealth is surging with the NASDAQ, while small businesses and service workers are getting hammered.

The top 10 percent now own more than 88 percent of corporate equity and mutual fund shares, meaning they benefit most from the booming markets, according to Bloomberg News.

 This type of inequality never ends well, read your history books.

Yes but starting in 1980 it started moving out of control.

Some inequality is good because it inspires people to innovate and work hard.  Too much inequality results in a class system which traps people, destroys the progress of the society, and historically results in the collapse of said society.

The single biggest thing driving the equality is the way that Capital income is taxed so much lower than Labor income.

Capital gains have been taxed at a much lower rate than ordinary income ever since Harding, so it's doubtful that's a major source of it.

[Zohranism is OUR future]

It’s funny how Democrats are accused of being communists when in reality, upholding this type of income inequality is more likely to foster communism in the long run.

If anything, Democrats are the true party of capitalism, as they are willing to implement reforms to preserve the system.

[25 Abril/Aprile Sempre!]

It’s funny how Democrats are accused of being communists when in reality, upholding this type of income inequality is more likely to foster communism in the long run.

If anything, Democrats are the true party of capitalism, as they are willing to implement reforms to preserve the system.

That Democrats by-and-large are liberals and not socialists should not be controversial...

[Anni di ghiaccio]

Bloomberg, Soros, and others give Democrats money, while Bezos owns the Washington Post, so don't expect establishment Democrats to bite the hand that feeds them.

You don't even sound like Bernie, you sound like

I'm here to draw anime tiddies and support massive wealth disparity, and I'm all out of ink.

[NEW JERSEY FOR MENENDEZ]

Bloomberg, Soros, and others give Democrats money, while Bezos owns the Washington Post, so don't expect establishment Democrats to bite the hand that feeds them.

You don't even sound like Bernie, you sound like

I'm here to draw anime tiddies and support massive wealth disparity, and I'm all out of ink.

It’s no coincidence that you guys are, you know, believing in the “Jewish conspiracy”