Wealthiest 1% control 39% of world wealth

[ZombieApocolypse]

Must be nice

Top 1% Control 39% of World's Wealth

 

[eldirector]

What's interesting, is that has actually dropped slightly in the last couple of decades. Though, it is up quite a bit from the 70s and 80s.

from: Who Rules America: Wealth, Income, and Power

Even more interesting, is that this really hasn't changed since we "industrialized". On average, the top 1% have controlled 32.5% of the wealth since 1922. In 2010 they controlled 35.5%.

Looks like we all have something to aspire to!

More historical context:
U.S. Income Inequality: It's Worse Today Than It Was in 1774 - Jordan Weissmann - The Atlantic

My take home:
Either some are rich, and others are poor
OR
We are all poor together.

 

[kwood]

i cant really gauge how the OP originally posted this thread, but it makes me think of how now thethe general public views americans who have achieved the American dream of being successful and becoming wealthy off it

the general public almost sees the rich as a negative thing instead of something to strive for.
This is something that a good friend of mine has told me
he is very wealthy and made that comment as being one of the most interesting and scary things he has lived through. seeing that change in the public mind scares him.

 

[Tim Enyeart]

If government would lower the tax rate, maybe there would be incentive for the rich to invest creating a job for me.

 

[ViperJock]

So what?

Compare your wealth to that of the typical 3rd world worker. Divide the wealth of the world evenly and we will all be poor. But that's what covetous commies crave.

 

[OneBadV8]

So what?

 

[HoughMade]

I'm still trying to figure out why so many people want to live their life jealous. Seems like a bitterness that can breed nothing positive.

Also, I've always wondered why authors of "income inequality" studies don't just come out and say: "the wealthy have stolen from the poor, we need to take from the wealthy to equalize all outcomes." That is the unstated, but obvious point.

I am content that I will never be in the 1% of wage earners in this country (and yes, I realize "wealth" and "wage earner" statistics are different), but I have no problem with those who are. By and large, the very wealthy earned everything they have.

I will not get into specifics, but as the grandson of a farmer who was never what anyone would call "well off", the son of a self-educated man who was solidly middle class, whose greatest gift to me was a "can do" attitude and a work ethic, I'm proof positive that just about anyone can make it to a comfortable income level if they apply themselves and have a plan...in this country at least....for now.

 

[hornadylnl]

I'm still trying to figure out why so many people want to live their life jealous. Seems like a bitterness that can breed nothing positive.

Also, I've always wondered why authors of "income inequality" studies don't just come out and say: "the wealthy have stolen from the poor, we need to take from the wealthy to equalize all outcomes." That is the unstated, but obvious point.

I am content that I will never be in the 1% of wage earners in this country (and yes, I realize "wealth" and "wage earner" statistics are different), but I have no problem with those who are. By and large, the very wealthy earned everything they have.

I will not get into specifics, but as the grandson of a farmer who was never what anyone would call "well off", the son of a self-educated man who was solidly middle class, whose greatest gift to me was a "can do" attitude and a work ethic, I'm proof positive that just about anyone can make it to a comfortable income level if they apply themselves and have a plan...in this country at least....for now.

I feel the same way about those *****ing about ammo shortages.

 

[indiucky]

And the 1% in America pay 36% of their income in federal taxes. What a world we live in where folks are villified for their success.

 

[Expat]

It seems obvious that we need to confiscate all of that wealth and "spread it around".

 

[No2rdame]

All I truly want from the wealthy is to learn their secrets to success and to be able to emulate them.

 

[JettaKnight]

Must be nice

Top 1% Control 39% of World's Wealth

MSNBC?




Curious, they don't list qualification is for be considered in the "top %1". Given the sheer poverty in many countries and the population of the world (think China), a large proportion of Americans must fall into the top %1.

 

[JettaKnight]

If government would lower the tax rate, maybe there would be incentive for the rich to invest creating a job for me.

I thought capitalism was about you creating a job for yourself?

 

[jamil]

Must be nice

Top 1% Control 39% of World's Wealth

Oooh, I have an idea. Maybe everyone who isn't in that 1% should form a group and occupy parts of a city. maybe parks. Maybe in a big city like New York. Maybe right in the financial district. Yeah. Then we can call it Occupy Wall Street. Who knows, maybe other groups will form and occupy parks in other cities. And then we can all behave like thugs, demanding that the government confiscates all rich people's money and give it to us. We'll just bust some windows, **** on cars, bust some more windows, smoke some weed, act like thugs, until they give in. Yeah. That'll fix it. Why not? Got nothing else to do with our degrees in Liberal Arts.

 

[ZombieApocolypse]

I thought capitalism was about you creating a job for yourself?

You would be wrong. Capitalism is about buying something as cheap as possible and selling it for as much as possible

 

[deal me in]

Quote:
Originally Posted by JettaKnight
I thought capitalism was about you creating a job for yourself?

You would be wrong. Capitalism is about buying something as cheap as possible and selling it for as much as possible

Let me guess, public educations? Capitalism is an economic system based on private ownership of the means of production. Doesn't have anything to do with creating your own job or buying low/selling high.

 

[ZombieApocolypse]

Quote:

Let me guess, public educations?

In my case ... you betcha! I guess i have something to blame besides myself now

 

[smokingman]

I have no problem with wealth.I have no problem with the fact a few control most of it.
What I do have a problem with is regulatory capture and that the rule of law is applied by what level your wealth is.That and the gross manipulations of our "free" market via the Federal Reserve(controlling rates),Banks(who rig Libor,commodities),and central points of power that through regulation have no competition and rig the game(COMEX,IMF,FED,EPA,IRS and so on).

 

[WileECoyotee]

And the 1% in America pay 36% of their income in federal taxes. What a world we live in where folks are villified for their success.

They mostly earn their income from investments on Wall Street and do not pay anywhere near that amount of taxes .

 

[Shadow8088]

Hey OP, did the wealthy get that money by stealing it from you? No? Then **** off. I get REALLY annoyed by this wealth envy bull**** from pathetic, worthless losers who live in their mommy's basement. I prefer to have my paycheck signed by somebody rich enough to cover it. I'm not gainfully employed by poor people. I provide a valuable service to my employer, and am compensated for it accordingly. I am by NO means "rich", or even "well off", but I live comfortably within my means, and keep my bills paid. Despite what the idiotic lefties would have you think, most poor people are that way through their own actions, and choices. But then again, going out and acquiring skills and education with which to better yourself is much harder than *****ing about the "wealthy" on the internet. I understand that hating the rich is a useful tactic for imbeciles that don't understand the first thing about free market economics, but grow the **** up and live in the real world.

wow, 54 posts in and you're calling fellow INGOers "pathetic, worthless losers" Great job. I'd check that attitude at the door my friend and start over. You can voice your disdain with what you perceive as a negative post, but namecalling doesn't really fly here.