In the last year, the ten richest men in America are 698 billion dollars richer

[Nuthin' Fancy]

It's by far the best possible incentive laden business system.

No, it isn't.
If that were true how have ALL these other countries survived for centuries?

See Cuba NK or even Europe for worse system examples.

Europe is still there.
You confuse socialism with dictatorships.

The USA has to put so many laws in place to stop the evil thieves in GOVT and business. It's a chore.

Like tax cuts.

 

[georgephillip]

The effective tax rate for the top 0.01% of households was around 55-68% in the 1950s and 1960s. This was during a period that corresponds to a time of broad-based economic expansion. Didnt stop growth. Just pushed more wealth down.

Fact-Checking JCT Estimate Of Tax Rate Paid By Highest-Income 0.01% - Americans For Tax Fairness

A recent report published by the Joint Committee on Taxation (JCT) is being touted by Congressional Republicans as proof that the ultra-wealthy pay their fair share in taxes, but nothing could be further from the truth. This study says that in 2019 the top 0.01% of highest-income earners—roughly...

americansfortaxfairness.org

It's also worth mentioning the extremely low level of private (household) debt in 1945 which provided the demand for the "Golden Age" of capitalism:

Household Borrowing in Historical Perspective - Liberty Street Economics

 

[sartre play]

And your solution is, what? Tax the billionaires?

How about a more equal effort in how taxes & right offs are figured?

 

[sartre play]

And your solution is, what? Tax the billionaires?

What about a more equal measure of how tax requirement and write off are done?

 

[sartre play]

The fact that you have to ask such an absurd question tells us all we need to know. You collectivists are so weird, what makes you think you should have a right to even one penny of Elon Musk’s?
What does his wealth have to do with yours or your potential to earn?

Musk? his number 3 country he has become a citizen of? To gain more $$$$$$$$$$$$.

 

[sartre play]

Look at Elon Musk, he plows his winnings back into new companies, hiring thousands of people, advancing science tremendously with new inventions, his new Raptor engines, robots, Teslas, and brain chips, for example.

Elon Musk is involved in several major companies, including Tesla, SpaceX, Neuralink, The Boring Company, and xAI. He also owns X Corp, which was formerly known as Twitter.

Elon Musk - Wikipedia

en.wikipedia.org

And this is helping you how?

 

[sartre play]

If a huge underclass is so bad for a society then why do you continue to beg Mexico to invade by the millions?

Immigration is a problem, How we deal with it, is a bigger problem.

 

[sartre play]

So what, the taxpayers have less because the Government overspends, then overtaxes everyone including those at the top. Not once have I got an answer to why they should pay more!!!! Even if we are taxed at the same rate, they pay more based on income.

The more money you have the bigger the loop holes are to avoid paying.

 

[leftwinger]

And this is helping you how?

Stupid OX? All those hires pay income Tax keeping my rate as low as possible.

Economic and other freedoms the reason the USA invents APPL and AMAZON while East Gemany invents little 2CYL cars on a 5 year waiting list.

THINK

 

[sartre play]

You blame the poor. I blame the ultra rich. Who’s right?

ITS ABOUT finding some balance,
just putting All THE BLAME on one party or one segment of society.
Fixes nothing. We need some responsible Americans. not party hacks. or Hate filled people.

 

[sartre play]

How has society benefitted citygator ?

Just one of them paid $12 BILLION in income taxes for just one year.

How much you pay last year, Deadbeat?

OK but how much money did he put in his pocket in just one year?

 

[Toddsterpatriot]

ITS ABOUT finding some balance,
just putting All THE BLAME on one party or one segment of society.
Fixes nothing. We need some responsible Americans. not party hacks. or Hate filled people.

ITS ABOUT finding some balance,

The rich pay a much larger portion of federal income tax revenues than they did in 1980.

 

[Toddsterpatriot]

OK but how much money did he put in his pocket in just one year?

Define "put in his pocket".

 

[sartre play]

Define "put in his pocket".

How about that boondoggle with our private info, How much did our government pay him for that?
As you can see, Do NOT LIKE THAT INTERLOPER.
America should be for those who want to be AMERICANS. & STILL believe in the American dream.
No perfect humans. We could try harder to be better people.

 

[Toddsterpatriot]

How about that boondoggle with our private info, How much did our government pay him for that?
As you can see, Do NOT LIKE THAT INTERLOPER.
America should be for those who want to be AMERICANS. & STILL believe in the American dream.
No perfect humans. We could try harder to be better people.

You can't define it?

 

[Dekster]

Wealth for most of those folks is calculated off the price the last share of stock sold for. The real OG barons like Gates and Buffet keep a massive quantity of cash on hand. They know better than to invest it all in the market.

 

[Nobody911]

The ten richest men in America became nearly 700 billion dollars richer in the last year. In the meantime, the GOP and Trump have shut down the AID program, literally taking food out of the mouths of starving children. And here in the states they want to eliminate the SNAP program, take healthcare programs away from low income people, and charge the rest of us more. Just so next year those ten and other very wealthy can gain even more than $700 billion. Wages stagnant, major layoffs happening, and food prices going up, and it looks like they will go up even more rapidly in the coming months. Already in the off year elections, we are seeing people reacting to what they are seeing the GOP and Trump doing to their lives.

MSN

Billionaires, like Trump, have been ruling America, dude. Accepting this objective truth could help you feel more relaxed. Live your normal life! Lol.

Wealth Inequality in America: A Critical Overview

Wealth Concentration Verified

The statement's core claim about the top 10 richest Americans gaining nearly $700 billion in the last year is accurate. According to recent Oxfam research, the 10 richest U.S. billionaires added $698 billion to their net worth in just one year.

Key Economic Disparities

The research reveals several shocking inequalities:

• 40% of American households are considered poor or low-income
• The top 0.1% of Americans now own 12.6% of total assets
• The bottom 50% of Americans own just 1.1% of the stock market

Demographic Impact

The wealth inequality is particularly stark across racial and gender lines:

• White households gained wealth 7.2 times more than Black households
• Male-headed households gained four times the wealth of female-headed households

Political Context

The statement's critique of GOP policies is supported by economic data suggesting that:

• Proposed tax changes could further benefit the wealthiest Americans
• Social safety net programs like SNAP are under threat

Economic Trends

• Wages have remained stagnant
• Food prices are increasing
• Mass layoffs are occurring

Conclusion

The statement is fundamentally true. The United States is experiencing unprecedented wealth concentration, with billionaires gaining massive fortunes while a significant portion of the population struggles economically. The data suggests a growing economic divide that is impacting millions of Americans across various demographic groups.

sources:

1. Richest 1% in the US grabbed at least 987 times more wealth per household than bottom 20% since 1989, new Oxfam research shows
2. America’s wealthiest billionaires got $698 billion richer this year—and Trump's tax policy could give them a new windfall | Fortune

Tax Policy Benefiting Wealthy Americans

The proposed Republican tax bill would provide significant tax breaks to the wealthiest Americans, while simultaneously:

• Cutting social safety net programs
• Shifting financial burdens to state governments
• Potentially increasing costs for middle and low-income families

SNAP (Supplemental Nutrition Assistance Program) Cuts
Key details of the proposed SNAP cuts include:

- Estimated $230 billion in cuts over 10 years

• Forcing states to pay 5-15% of food benefits (currently 100% federally funded)
• Expanding work requirements
• Potentially removing food assistance from over 4 million people

Specific Impacts

• More than 2 million children could lose some or all food assistance
• Work requirements would be expanded to include:

- Raising work requirement age from 54 to 64
- Forcing parents with children over 6 to meet work requirements

Broader Context

23 Democratic governors have already urged Congress to reject these proposals, arguing they would:

• Gut hunger assistance programs
• Put unprecedented financial strain on state budgets
• Harm over 42 million food-insecure Americans

Conclusion

The statement is substantiated by multiple sources. The proposed policies would effectively transfer resources from low-income Americans to the wealthiest, potentially increasing economic inequality.

sources:

1. https://www.cbpp.org/research/food-...oposes-deepest-snap-cut-in-history-would-take
2. How Trump's tax cut and spending megabill would impact SNAP recipients

 

[gipper]

Billionaires, like Trump, have been ruling America, dude. Accepting this objective truth could help you feel more relaxed. Live your normal life! Lol.

Wealth Inequality in America: A Critical Overview

Wealth Concentration Verified

The statement's core claim about the top 10 richest Americans gaining nearly $700 billion in the last year is accurate. According to recent Oxfam research, the 10 richest U.S. billionaires added $698 billion to their net worth in just one year.

Key Economic Disparities

The research reveals several shocking inequalities:

• 40% of American households are considered poor or low-income
• The top 0.1% of Americans now own 12.6% of total assets
• The bottom 50% of Americans own just 1.1% of the stock market

Demographic Impact

The wealth inequality is particularly stark across racial and gender lines:

• White households gained wealth 7.2 times more than Black households
• Male-headed households gained four times the wealth of female-headed households

Political Context

The statement's critique of GOP policies is supported by economic data suggesting that:

• Proposed tax changes could further benefit the wealthiest Americans
• Social safety net programs like SNAP are under threat

Economic Trends

• Wages have remained stagnant
• Food prices are increasing
• Mass layoffs are occurring

Conclusion

The statement is fundamentally true. The United States is experiencing unprecedented wealth concentration, with billionaires gaining massive fortunes while a significant portion of the population struggles economically. The data suggests a growing economic divide that is impacting millions of Americans across various demographic groups.

sources:

1. Richest 1% in the US grabbed at least 987 times more wealth per household than bottom 20% since 1989, new Oxfam research shows
2. America’s wealthiest billionaires got $698 billion richer this year—and Trump's tax policy could give them a new windfall | Fortune

Tax Policy Benefiting Wealthy Americans

The proposed Republican tax bill would provide significant tax breaks to the wealthiest Americans, while simultaneously:

• Cutting social safety net programs
• Shifting financial burdens to state governments
• Potentially increasing costs for middle and low-income families

SNAP (Supplemental Nutrition Assistance Program) Cuts
Key details of the proposed SNAP cuts include:

- Estimated $230 billion in cuts over 10 years

• Forcing states to pay 5-15% of food benefits (currently 100% federally funded)
• Expanding work requirements
• Potentially removing food assistance from over 4 million people

Specific Impacts

• More than 2 million children could lose some or all food assistance
• Work requirements would be expanded to include:

- Raising work requirement age from 54 to 64
- Forcing parents with children over 6 to meet work requirements

Broader Context

23 Democratic governors have already urged Congress to reject these proposals, arguing they would:

• Gut hunger assistance programs
• Put unprecedented financial strain on state budgets
• Harm over 42 million food-insecure Americans

Conclusion

The statement is substantiated by multiple sources. The proposed policies would effectively transfer resources from low-income Americans to the wealthiest, potentially increasing economic inequality.

sources:

1. https://www.cbpp.org/research/food-...oposes-deepest-snap-cut-in-history-would-take
2. How Trump's tax cut and spending megabill would impact SNAP recipients

This terrible inequality might lead to a revolution. It can’t happen too soon.

This enormous wealth gained by a few people causes greater problems because they are allowed to buy government and politicians, to gain even more wealth and political power. Billionaires always get what they want from government. The people not so much.

 

[Toddsterpatriot]

- Estimated $230 billion in cuts over 10 years

• Forcing states to pay 5-15% of food benefits (currently 100% federally funded)
• Expanding work requirements
• Potentially removing food assistance from over 4 million people

$230 billion in savings? Excellent.
States shouldn't be able to give these benefits to illegal aliens or able-bodied slackers.
Save the money for citizens who really need it.

 

[BrokeLoser]

Billionaires, like Trump, have been ruling America, dude. Accepting this objective truth could help you feel more relaxed. Live your normal life! Lol.

Wealth Inequality in America: A Critical Overview

Wealth Concentration Verified

The statement's core claim about the top 10 richest Americans gaining nearly $700 billion in the last year is accurate. According to recent Oxfam research, the 10 richest U.S. billionaires added $698 billion to their net worth in just one year.

Key Economic Disparities

The research reveals several shocking inequalities:

• 40% of American households are considered poor or low-income
• The top 0.1% of Americans now own 12.6% of total assets
• The bottom 50% of Americans own just 1.1% of the stock market

Demographic Impact

The wealth inequality is particularly stark across racial and gender lines:

• White households gained wealth 7.2 times more than Black households
• Male-headed households gained four times the wealth of female-headed households

Political Context

The statement's critique of GOP policies is supported by economic data suggesting that:

• Proposed tax changes could further benefit the wealthiest Americans
• Social safety net programs like SNAP are under threat

Economic Trends

• Wages have remained stagnant
• Food prices are increasing
• Mass layoffs are occurring

Conclusion

The statement is fundamentally true. The United States is experiencing unprecedented wealth concentration, with billionaires gaining massive fortunes while a significant portion of the population struggles economically. The data suggests a growing economic divide that is impacting millions of Americans across various demographic groups.

sources:

1. Richest 1% in the US grabbed at least 987 times more wealth per household than bottom 20% since 1989, new Oxfam research shows
2. America’s wealthiest billionaires got $698 billion richer this year—and Trump's tax policy could give them a new windfall | Fortune

Tax Policy Benefiting Wealthy Americans

The proposed Republican tax bill would provide significant tax breaks to the wealthiest Americans, while simultaneously:

• Cutting social safety net programs
• Shifting financial burdens to state governments
• Potentially increasing costs for middle and low-income families

SNAP (Supplemental Nutrition Assistance Program) Cuts
Key details of the proposed SNAP cuts include:

- Estimated $230 billion in cuts over 10 years

• Forcing states to pay 5-15% of food benefits (currently 100% federally funded)
• Expanding work requirements
• Potentially removing food assistance from over 4 million people

Specific Impacts

• More than 2 million children could lose some or all food assistance
• Work requirements would be expanded to include:

- Raising work requirement age from 54 to 64
- Forcing parents with children over 6 to meet work requirements

Broader Context

23 Democratic governors have already urged Congress to reject these proposals, arguing they would:

• Gut hunger assistance programs
• Put unprecedented financial strain on state budgets
• Harm over 42 million food-insecure Americans

Conclusion

The statement is substantiated by multiple sources. The proposed policies would effectively transfer resources from low-income Americans to the wealthiest, potentially increasing economic inequality.

sources:

1. https://www.cbpp.org/research/food-...oposes-deepest-snap-cut-in-history-would-take
2. How Trump's tax cut and spending megabill would impact SNAP recipients

This terrible inequality might lead to a revolution. It can’t happen too soon.

This enormous wealth gained by a few people causes greater problems because they are allowed to buy government and politicians, to gain even more wealth and political power. Billionaires always get what they want from government. The people not so much.

I’ve asked a thousand purple hair nose-ringing beggars to explain this degenerates theory to me and NONE have ever been able to do that.
Here, give it a try…
Question:
What does my wealthier neighbors net worth, effective tax rate and quality of life have to do with mine and how do his earnings, tax rate and quality of life have anything to do with my earning potential, my tax rate and my quality of life?
I’ve noticed beggars pretend they believe there is a predetermined amount of cash out there that we are all fighting for…Are they pretending?