Top 1% gain 2X the wealth as rest of world - a food and energy pricing plot

[initforme]

I don’t understand how any American can defend this enormous transfer of wealth to the one percent, yet some do. They are good examples of how easily the establishment can fool them.

Our very own Adam Smith (Toddsterpatriot) supporter of the 1%, loves to argue this is the wonderfulness of the invisible hand of capitalism.

We are headed towards a plutocracy perhaps. Those same people can look you right in the eye and tell you that some union worker making 50 grand is way overpaid. It's sick and twisted.

 

[leftwinger]

This again? You are in year 12 of Obiden. If it was "EASY" or true then they could have gone after this wealth you think you know of. Why have they done nothing? They know.....Economist know. The GDP will drop, Tax revenue will drop with it. 20%*GDP is what they can hope to get in Tax revenue no matter where they put the rates. Sure you will get a short-term increase but then the GDP will drop to adjust. Money will move. Are you going to open a business under communism with a 95% Tax rate and endure the Police State?

 

[gipper]

We are headed towards a plutocracy perhaps. Those same people can look you right in the eye and tell you that some union worker making 50 grand is way overpaid. It's sick and twisted.

The west is headed for collapse. I suspect this is something favorable, but only if the people take control after the collapse and remove the power the 1% has.

 

[citygator]

I don’t understand how any American can defend this enormous transfer of wealth to the one percent, yet some do. They are good examples of how easily the establishment can fool them.

Our very own Adam Smith (Toddsterpatriot) supporter of the 1%, loves to argue this is the wonderfulness of the invisible hand of capitalism.

The elite right wing has convinced a large part of America that anything other than letting 1% grab everything is socialism marxism and my liberal left is just impotent at messaging.

 

[Blues Man]

Yet we see so many threads praising Biden for the economy. Can't have it both ways.

Anyway, "wealth" is largely an illusion. As I have said many times, if Bezos were to dump all his stock on the market, you could wipe your butt with Amazon stock certificates. Nobody could afford to buy him out.

I am not responsible for the partisan idiocy of other people.

 

[citygator]

Yet we see so many threads praising Biden for the economy. Can't have it both ways.

Anyway, "wealth" is largely an illusion. As I have said many times, if Bezos were to dump all his stock on the market, you could wipe your butt with Amazon stock certificates. Nobody could afford to buy him out.

The ones I post are in direct response to the morons who want to blame Biden for a bad economy when we actually have a good one… its just that a good US economy doesn’t really impact most people. It all goes to the top.

 

[Captain Caveman]

This was just published just the other day. It’s world wide not just US but it has some interesting stats on how much the top 1% grabbed the last few years. Basically the top 1% have colluded to raise prices on the world and netted $42 Trillion in wealth -more than 2X’s the gain of the remaining 99% of the world.

While you guys run around here and try to blame the poor for raising prices with their stimulus checks 3 and a half years ago the masters of industry laugh at you, take your money, and watch you fight for the scraps.

Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years | Oxfam International

The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report today. During the past decade, the richest 1 percent had captured around half of all new wealth.

Billionaires have seen extraordinary increases in their wealth. During the pandemic and cost-of-living crisis years since 2020, $26 trillion (63 percent) of all new wealth was captured by the richest 1 percent, while $16 trillion (37 percent) went to the rest of the world put together. A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 percent. Billionaire fortunes have increased by $2.7 billion a day. This comes on top of a decade of historic gains —the number and wealth of billionaires having doubled over the last ten years.

Billionaire wealth surged in 2022 with rapidly rising food and energy profits. The report shows that 95 food and energy corporations have more than doubled their profits in 2022. They made $306 billion in windfall profits, and paid out $257 billion (84 percent) of that to rich shareholders. The Walton dynasty, which owns half of Walmart, received $8.5 billion over the last year. Indian billionaire Gautam Adani, owner of major energy corporations, has seen this wealth soar by $42 billion (46 percent) in 2022 alone. Excess corporate profits have driven at least half of inflation in Australia, the US and the UK.

Because people use them.

 

[Dekster]

The ones I post are in direct response to the morons who want to blame Biden for a bad economy when we actually have a good one… its just that a good US economy doesn’t really impact most people. It all goes to the top.

So we have a good economy where the vast majority of the wealth goes to the top 1%, huh?

This isn't a new problem. It was been this way since the 80's and accelerated in the 90's and just keeps on going with no end in sight. It was fine when NYC was extracting wealth from red state rural communities but now that AI and algorithms are replacing NYC jobs, we must address this!!!

You can't. Nothing but a a doomsday solar flare will change it. Your CHIPS Act billions will mostly go to owners of companies that make automation; your clean energy money will go to big utilities who will charge you more to help their side of the financing to get the money. The list goes on and on and on.

Now I must go to Sam's Club and buy me some roasted chickens. They sell those at a loss. That'll stick it to the man.

 

[DGS49]

As a general proposition, the "Rich" gain their wealth and increase it by providing goods and/or services that people actually want, at a price that they (The People) are happy to pay. There is no coercion involved. Of the thousands of illustrations, Elon Musk created a new and innovative car company that makes four specific models that people all over the world are willing to pay for- happily. They have scores of other options. They could buy other EV's, other ICE cars, used cars, keep their existing cars, or sell their cars and walk. But they don't do that; they look at the products that Elon's makes, look at what they are willing to spend on transportation, and buy a Tesla. I know; I did.

The same little picture could be replicated for just about every gazillionaire on earth. You don't get rich by exploiting the masses. The only exception might be if you mainly sell to government.

Second, the world's economy is not a "fixed pie," in which if someone takes a piece of it that leaves less for everyone else. Entrepreneurial activity creates wealth, it doesn't gather wealth from around itself. For example, if I'm a real estate developer, I take an abandoned building, buy it for $100,000, put a couple million into it, and convert it to twelve condo's that I can sell for $250k each, I have literally created millions of dollars in wealth, wealth that simply did not exist when I bought that building, and that would not exist now if I had just walked away from it.

The creation of wealth actually benefits bystanders. It benefits the workers to make the goods, build the buildings, and provide the services. Again these jobs would not exist without the efforts of the entrepreneur ("Capitalist" if you prefer).

In very few instances can entrepreneurs control the pricing of their goods and/or services. They SPECULATE on what the market will pay, and often they are wrong. Many people notice when an entrepreneur has a wildly successful venture, but few pay attention when the venture goes bankrupt, leaving the entrepreneur to eat substantial losses.

Rich people getting richer harms no one unless it is accomplished through theft. I realize that the Political Left has scores of ways of re-defining terms and I'm sure they can make a case for Bill Gates stealing money for his software, but this is nonsense. It's not theft when people voluntarily (and happily) pay for it.

 

[Toddsterpatriot]

I don’t understand how any American can defend this enormous transfer of wealth to the one percent, yet some do. They are good examples of how easily the establishment can fool them.

Our very own Adam Smith (Toddsterpatriot) supporter of the 1%, loves to argue this is the wonderfulness of the invisible hand of capitalism.

I don’t understand how any American can defend this enormous transfer of wealth to the one percent, yet some do.

Who is transferring this wealth? How are they doing it?

 

[martybegan]

Do you think that it is just what it is? Is there nothing you’d support to balance the equation a little?

Which usually ends up with the spoils going into the pockets of those doing the balancing.

 

[citygator]

Which usually ends up with the spoils going into the pockets of those doing the balancing.

Taking chances is how you evolve. It’s how you improve.

 

[martybegan]

Taking chances is how you evolve. It’s how you improve.

it's not taking chances, it's falling for Prog bullshit that does nothing but bloat government and get them more paid and more of them being useless and getting paid.

It's why you will never see things like homelessness being solved, because more people make money perpetuating it and keeping the people involved just barely taken care of.

 

[citygator]

As a general proposition, the "Rich" gain their wealth and increase it by providing goods and/or services that people actually want, at a price that they (The People) are happy to pay. There is no coercion involved. Of the thousands of illustrations, Elon Musk created a new and innovative car company that makes four specific models that people all over the world are willing to pay for- happily. They have scores of other options. They could buy other EV's, other ICE cars, used cars, keep their existing cars, or sell their cars and walk. But they don't do that; they look at the products that Elon's makes, look at what they are willing to spend on transportation, and buy a Tesla. I know; I did.

The same little picture could be replicated for just about every gazillionaire on earth. You don't get rich by exploiting the masses. The only exception might be if you mainly sell to government.

Second, the world's economy is not a "fixed pie," in which if someone takes a piece of it that leaves less for everyone else. Entrepreneurial activity creates wealth, it doesn't gather wealth from around itself. For example, if I'm a real estate developer, I take an abandoned building, buy it for $100,000, put a couple million into it, and convert it to twelve condo's that I can sell for $250k each, I have literally created millions of dollars in wealth, wealth that simply did not exist when I bought that building, and that would not exist now if I had just walked away from it.

The creation of wealth actually benefits bystanders. It benefits the workers to make the goods, build the buildings, and provide the services. Again these jobs would not exist without the efforts of the entrepreneur ("Capitalist" if you prefer).

In very few instances can entrepreneurs control the pricing of their goods and/or services. They SPECULATE on what the market will pay, and often they are wrong. Many people notice when an entrepreneur has a wildly successful venture, but few pay attention when the venture goes bankrupt, leaving the entrepreneur to eat substantial losses.

Rich people getting richer harms no one unless it is accomplished through theft. I realize that the Political Left has scores of ways of re-defining terms and I'm sure they can make a case for Bill Gates stealing money for his software, but this is nonsense. It's not theft when people voluntarily (and happily) pay for it.

it’s theft if you organize the system to tilt power to only the few.

 

[citygator]

it's not taking chances, it's falling for Prog bullshit that does nothing but bloat government and get them more paid and more of them being useless and getting paid.

It's why you will never see things like homelessness being solved, because more people make money perpetuating it and keeping the people involved just barely taken care of.

You’re advocating doing nothing. Not me. Homelessness isn’t solved because it is highly a mental health issue and requires government support of homes with care which is too expensive for Christians and conservatives.

 

[gipper]

I don’t understand how any American can defend this enormous transfer of wealth to the one percent, yet some do.

Who is transferring this wealth? How are they doing it?

Via government. Look it up.

 

[progressive hunter]

Do you think that it is just what it is? Is there nothing you’d support to balance the equation a little?

if you want to balance it tell people to work harder,, stealing from those that do work harder isnt the answer,,

 

[progressive hunter]

You’re advocating doing nothing. Not me. Homelessness isn’t solved because it is highly a mental health issue and requires government support of homes with care which is too expensive for Christians and conservatives.

if you want homes more affordable tell the government to lower taxs and stop messing woth peoples lives so they can p[ick themselves up,,

 

[Toddsterpatriot]

Via government. Look it up.

Government is making you buy stuff from rich people? That's awful!

 

[gipper]

Government is making you buy stuff from rich people? That's awful!

Whoosh. Right over your empty head.