Millionaire Ranks Hit New High

[dannybin1742]

"Truly, I say unto you, it will be hard for a rich man to enter the kingdom of heaven." Matthew 19:23

If you would be perfect, go, sell what you possess and give to the poor, and you will have treasure in heaven." Matthew 19:21

"You cannot serve both God and Money." Matthew 6:24

for the party bend on pushing christianity, they sure don't follows this

 

[Riprorin]

Originally posted by: novon
All this means is the rich are getting richer and the poor poorer

It's not a zero sum game.

 

[Jhhnn]

Nobody said that, Rip. OTOH, what passes for "growth" over the last 25 years benefits those at or near the top almost exclusively. There's no "down" in trickledown economics, only "Up".

More jobs have no meaningful healthcare or pensions. More working people depend on state subsidies every day, a la Walmart, and the Right wants those to go bye-bye. More people are more deeply in debt than ever before, not to mention the govt, as well, but the Right's answer is more "trickledown", more borrowing, more debt.

More of total income goes to those at the very, very top. In 1970, the top .01% took in 1% of all income, today they get 5%, averaging $2M/month... that's not assets, just income, and that's prior to the Bush taxcuts, which benefit those folks the most...

Being a Millionaire isn't what it used to be, either. A major medical crisis can cost $250K, with ease, and mounting an effective defense against a felony charge is about the same. Ivy League room/board/tuition and books is about $40K/yr....

But it's good to see smart people who work hard get ahead of the game a little bit, anyway. OTOH, for every Billionaire, we could have had 1000 Millionaires, instead, which is really better for our country and society. At any given moment, there's only so much to go around, even if we don't like to recognize that. The Frontier closed over 100 years ago, but we still think in terms of infinte wealth, which just isn't true, at all. At some point or another, ambition and drive become greed and avarice, and the effect of rapid and intense concentration of wealth becomes consolidation of political power, which is, by definition, detrimental to egalitarian democracy...

 

[dmcowen674]

Originally posted by: Jhhnn
Nobody said that, Rip. OTOH, what passes for "growth" over the last 25 years benefits those at or near the top almost exclusively. There's no "down" in trickledown economics, only "Up".

More jobs have no meaningful healthcare or pensions. More working people depend on state subsidies every day, a la Walmart, and the Right wants those to go bye-bye. More people are more deeply in debt than ever before, not to mention the govt, as well, but the Right's answer is more "trickledown", more borrowing, more debt.

More of total income goes to those at the very, very top. In 1970, the top .01% took in 1% of all income, today they get 5%, averaging $2M/month... that's not assets, just income, and that's prior to the Bush taxcuts, which benefit those folks the most...

Being a Millionaire isn't what it used to be, either. A major medical crisis can cost $250K, with ease, and mounting an effective defense against a felony charge is about the same. Ivy League room/board/tuition and books is about $40K/yr....

But it's good to see smart people who work hard get ahead of the game a little bit, anyway. OTOH, for every Billionaire, we could have had 1000 Millionaires, instead, which is really better for our country and society. At any given moment, there's only so much to go around, even if we don't like to recognize that. The Frontier closed over 100 years ago, but we still think in terms of infinte wealth, which just isn't true, at all. At some point or another, ambition and drive become greed and avarice, and the effect of rapid and intense concentration of wealth becomes consolidation of political power, which is, by definition, detrimental to egalitarian democracy...

^^^ The most prophetic words to date in P&N ^^^