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In reply to the discussion: For the overly wealthy, it's not just about having more -- it's about making you have less. [View all]handmade34
(22,756 posts)3. excellent assessment...
The wealth of the top 1 percent increased by an average of $4.9 million over the past decade, while the average holdings of the bottom 99 percent declined by about $4,500. Wealth inequality is now the highest it has been since the Federal Reserve began collecting this kind of data in 1983. A full account of just how bad things have gotten is difficult to wrap ones mind around. In 2016, according to my calculations, the top 1 percent had an average wealth of $26.6 million, while the net worth of everyone in the bottom third combined was less than zero (because of a mixture of low accumulated savings and high debt).
https://www.nytimes.com/2017/11/30/opinion/inequality-social-wealth-fund.html?em_pos=large&ref=headline&te=1&nl=opinion-today&emc=edit_ty_20171130
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For the overly wealthy, it's not just about having more -- it's about making you have less. [View all]
byronius
Nov 2017
OP
Vast wealth allows them to change laws to make whatever they do legal,
Dark n Stormy Knight
Nov 2017
#2
" He has enough money and property to survive anything the economy can throw at him"
A HERETIC I AM
Nov 2017
#14
Well as long as you understand capitalism is designed to concentrate wealth
Farmer-Rick
Nov 2017
#39
Why save it? Because we are the biggest, most powerful nation on the planet
TexasBushwhacker
Nov 2017
#43