Wealth inequality in America. Video perspective

[Attic]

http://economy.money.cnn.com/2013/03/08/wealth-video/

We could be looking ok if the 1% was entirely absent from the perspective. I doubt there are more than one or two 1 per enters on the board. 40% of nations wealth on 1% of the population.

I think the stock market and tax laws are mostly responsible for this outcome playing out over the past 20-30 years.

 

[DucatiMonster696]

http://economy.money.cnn.com/2013/03/08/wealth-video/

We could be looking ok if the 1% was entirely absent from the perspective. I doubt there are more than one or two 1 per enters on the board. 40% of nations wealth on 1% of the population.

I think the stock market and tax laws are mostly responsible for this outcome playing out over the past 20-30 years.

Because government using fatally flawed fiscal and monetary policies which ends up robbing wealth from the productive members of society and enriching those who can best support lobbying of government for favors and have position themselves best to take advantage of the resulting inflationary monetary polices is working out so wonderfully well.

Hint: Tax laws, stock markets are all ancillary and symptomatic issues of a heavily indebted government who has with the help of its central banks created a perfect storm of spending, debt and a heron-like reliance of easy credit in the economy by its central bank. Those who benefit from our current policies of the aforementioned aren't the little guy but the big guys who have the ability to position and purchase assets to take advantage of the playing field government has altered and created to better suit them and not you or I.

 

[boomerang]

http://economy.money.cnn.com/2013/03/08/wealth-video/

We could be looking ok if the 1% was entirely absent from the perspective. I doubt there are more than one or two 1 per enters on the board. 40% of nations wealth on 1% of the population.

I think the stock market and tax laws are mostly responsible for this outcome playing out over the past 20-30 years.

What do you not have that you need?

 

[beachchica]

This is not a new thing. The post-Civil War era might have been the biggest example. Depending on who is doing the math John D Rockefeller was worth $350-600 billion (in today's money) at his peak. Add in Carnegie ($300 billion) and Vanderbilt ($185 Billion). Those three guys alone, added up to around 4-5% of all the wealth in the US at the time. Throw in the other industrial giants of the time (Weyerhauser, The Mellon Brothers, Gould, Field, Morgan, etc) and you had an enormous concentration of wealth among a very tiny population, greater than anything we see today in the US.