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RemyBrown wrote:
The left claims billionaires "run out with all of the money".
Just 3% of the nation's wealth is owned by billionaires.
U.S. billionaires (numbering roughly 900 to 924 individuals, hold a combined wealth of approximately $7.8 trillion, which is roughly 3.5% to 4% of total U.S. household wealth. The top 1% owns 32.5% of the nations wealth.
The bottom 50% (roughly 66 million families) hold only about 2.3% to 2.5% of the nation's wealth. 900 U.S. billionaires own significantly more wealth than half of the country combined. The top 1% (1.3 mm Households) owns fourteen times as much as the bottom 50% 66 million households),
Trump took health insurance away from over 15 million people, and eliminated SNAP benefits from 6 million, this was in order to give the top 1% a TRILLION-dollar tax cut.
The billionaires didn't need that trillion dollars, the people who lost their health Insurance and SNAP benefits needed it.
There are some 1200 billionaires in America. They hold about 8 trillion in total wealth.
Billionaires are envied.
Everyone could be a billionaire...But of course everyone can't...Such is the angst of under achievers.
But just like everyone else, billionaires need to eat and shit and will eventually die.
So there's just as much to be said for being obscure and content...Though some people will undoubtedly envy obscure contentedness...Such is human nature.
RemyBrown wrote:
@SideWalker
The top 1% owns 32.5% of the nations wealth.
That's doctors, lawyers, engineers, actuaries, etc; people that earned their wealth. Look, in a whole foods store with 500 people in it, 5 of them are in the top 1%.
I suppose you think that makes a point of some kind, but nevertheless, it’s a non-sequitur. I know what the top 1% is, what I don’t know is why you think making up numbers regarding Whole Foods has to do with anything.
The billionaires didn't need that trillion dollars, the people who lost their health Insurance and SNAP benefits needed it.
If you take issue with it, then have your state expand Medicaid funding on it's own. Butt none of them picked up the slack; they just want to blame Trump for stuff.
Or we can reject the authoritarian rule of the billionaire class and fight against it because it exploits the needy. I’m out there protesting, raising money, campaigning for Jon Ossof, and doing what I can to make a difference for this country, while you sit in your Mom’s basement eating Cheetos and typing racist nonsense all day. As long as you refuse to put down the Cheetos and leave your mom’s basement you just don’t matter Pumpkin.
What truly amazes me, is that it’s the neediest that are Trump’s most loyal base, and that’s who Trump shits on the most. How is it that the underbelly of US society sees this privileged prick who inherited all his money as one of them? Fact is Pumpkin, you need to pull yourself up and out of the trailer park, Trump isn’t going to do it for you, he’s just going to make it harder for you. Sure, you can still feel satisfied that he makes it even harder for black and brown people, but being a satisfied underbelly of society is nothing to be proud of.
I do get it though, the only people Trumps craps on worse than his base are of course black and brown people, and so it’s those on the bottom rungs of the social ladder that Trump’s overt racism appeals to most. So maybe you think it’s worth it to sit on the bottom rung of society in terms of education, income, and social standing and watch as he works against the minorities who have achieved so much more than you, but I think it’s kinda like cutting off your nose to spite your face.
Of course, it’s that mentality that made you the underbelly of society in the first place, you just want to blame black people for your lack of success.
The bottom 50% (roughly 66 million families) hold only about 2.3% to 2.5% of the nation's wealth. 900 U.S. billionaires own significantly more wealth than half of the country combined. The top 1% (1.3 mm Households) owns fourteen times as much as the bottom 50% 66 million households)
This is irrelevant because GINI coefficients don't imply economic success; Norway's GINI coefficient is on par with Pakistan's. Pakistan is a shithole.
No shit Sherlock, I know what the Gini Index is, and I know it’s not about the country’s economy; it’s about income or wealth distribution within the country’s economy. The fact that you Googled the Gini Coefficient and then either didn’t read it, or didn’t comprehend it, doesn’t make the huge and growing wealth disparity in this country irrelevant, it just makes you irrelevant.
Democrats are envious people.
Economics of envy hasn't worked anywhere in the world. Especially Africa.
People think wealth = piles of cash sitting in a room like a Scrooge McDuck cartoon, but billionaire wealth isn't physical cash, it's usually around 95+% physical assets valued in deeds, titles, and stocks. Converting all assets to cash (liquidation) almost always lowers the value of those physical assets dramatically.
Africa tried seizing physical assets and ended up devaluing the assets through either liquidation or mismanagement. And now you can get a trillion dollar note from Zimbabwe.
I could only imagine if midwits like Sidewalker were to violently seize assets like an African Warlord just how fast the asset value would go down the toilet.
You Americans outsourced caring to the government with mandated charity, whether people deserve it or not.
When welfare becomes a right, it's an entitlement and no longer charity.
to solve all homelessness.
RemyBrown wrote:
Everyone could be a billionaire...But of course everyone can't...Such is the angst of under achievers.
Democrats are envious people.
And the core voters of all political parties will have intellectual and financial limitations...It's how the hive operates...Such is inherent human nature.
Shoresy wrote:
I actually have ten Zimbabwe hundred trillion-dollar bills, I use them for bookmarks.
Let me explain what that means, you see, for people who read books, a bookmark is something we use to keep the place in the book.
Yes, Adolph was misunderstood...He was a proud nationalist...Though his dislike of Jews was seemingly contradicted by his liking for Turks.
Solve and solution are fantasy words that politicians use.
Redistributing the authority to create money does not create additional houses, food, labor, or productive resources.
If everybody can print money, everybody has an incentive to print before everybody else does.
And if citizens must vote on how much to print, you've simply recreated a political monetary authority with no localized incentive constraints.
Imagine a community representing 1% of the population can authorize $10 billion in new currency for its members.
Its members receive the immediate benefits, while the inflationary consequences are distributed across the entire country.
Why wouldn't they vote yes?
Now, if every community does the same thing, the collective result would be disastrous, even though each community acted rationally in its own interest.
That's a classic tragedy of the commons. It's a thoroughly debunked idea. Modern game theory also explains why it's a terrible idea. If each community receives the immediate benefits of its own currency issuance while spreading inflation costs across everyone, because both have an equal incentive to print.
The tragedy of the commons should be required reading, even for Midwits.
Imagine this: The dollar's purchasing power is a shared common community resource.
Each individual community has an incentive to create additional purchasing power through currency creation.
But when everyone does it, the value of that shared resource deteriorates.
Think of this as similar to overfishing. What makes sense for one participant will become exponentially destructive when everyone follows the same strategy.
It's why blue states that let the voters create money with bond measures don't care about the State's deficit. They will get all the benefits immediately and will likely die before worrying about repayment. Tragedy of the commons.
My system is simply that newly created money gets equally distributed to all citizens, or in a more effective way, to those who are poor.
It's why blue states that let the voters create money with bond measures don't care about the State's deficit. They will get all the benefits immediately and will likely die before worrying about repayment. Tragedy of the commons.
Thats borrowing,
Inflation is created with federal t bills when the Federal Reserve buys Treasury securities.
Government is inefficient spender, due to lack of cost consideration policy.
And voters are worse borrowers than politicians,
Politicians damage their party's reputation with every t bill issued to the Fed Reserve.
Voters have no reputation to lose.
That is why Trump switched to crypto.