The richest 10% own 70% of the country’s wealth
- Thread starter winb83
- Start date
That's the problem. Wages for much of the population have been stagnant for decades. The cost of living continues to rise squeezing more out of less. Meanwhile at the top people like him make all the money. His company is just now getting around to raising the wages of base workers.
Everybody should eat. Not just the people at the top.
We live in the western world ... our bottom 5% live better than half the planet
In essence we are already the worlds "top" so
SOCIALISM???
We live in a world of selective socialism now. Socialism is allowed when it benefits certain people and disallowed when it benefits others. The socialism that benefits the masses is loathed by the rich elite. If they could get rid of medicare and social security tomorrow with no public consequence it'd be gone. Part of the reason we don't have medicare for all is because the rich elite don't want their profit game fukked up off it not because we as a country can't afford it.If I could drop every socialism nut job off in Caracas I would
ill
Superstar
A little bit random with the discussion going on but what percentage would you guys be comfortable with in regards to the top 10% owning wealth. It’s 70% of total wealth now so what, if any, percent ownership would you be okay with for the richest 10%?
Hood Critic
The Power Circle
You did a ton of posting in this thread and set the foundation of your entire argument on wealth being about money when that is not how wealth is defined.socialism is worse
it's better to understand what wealth is first.
If you didn't need money, would you be wealthy?does money hold actual value or is it just means of exchange
I used to think like most here when it came to "hoarding wealth"....this is a lie. The rich spend like crazy.
It's just not obvious why they have so much money when the only thing most people do here is work for money (FYI this is the most inefficient way of earning money period)
what if you could create things that people would give you money for?
You also seem to use 'wealth' and 'rich' interchangeably, that too is not the case.
what do you define as wealth? or being rich?
the bottom 90% struggles with wealth because they dont understand what to do with money or excess
its the same reason why lotto winners/inheritances lose their fortunes
Hood Critic
The Power Circle
not even close!
let me make it simple
Suzy is a kindergartner with $20
she wants to make lemonade for her self. Hypothetically she could buy an individual lemon, a bottle of water, and a sugar packet. That is one drink.
Unfortunately she is forced to buy 12 lemons, a 24 pack of water and a pound of sugar. She only needed the one each.
So she ends up with supplies for more lemonade than she intended. This is wealth.
If she can sell the lemonade to others that she doesn't need, she earns profit.
While simplistic this is exactly what happens with almost any business. It's investing in "excess" in order to turn it. You don't have to have millions to be "wealthy".
Wealth is a mindset.
EDIT - A good thought experiment is to imagine living in ancient or feudal times where currency either didn't exist or was not widely circulated (think shoguns trading rice for soldiers or shepherds trading wool for lumber)
Hood Critic
The Power Circle
The people at the top have the game rigged so that if you aren't one of them or don't establish a connection to one of them the odds are you'll never make it there. Most people don't have enough money to lean how to manage it better.
I didn't learn how to manage money till I was in my early 30s. I'm almost 36 now and I had to be about 32 when I learned how to manage money and it was because at that level I was making enough money that I realized I only needed about half of what I made to live comfortably and I could just save the other half.
When you come from a deprived state and gain money many people buy all the shyt they could never have before. I spent money on tons of dumb things. I spend like $10,000 on big screen TVs in a span of about 3 years (2012-2015) as an example. If I would have invested that money back then it would be worth a lot more now.
People have to grow accustom to dealing with money to manage it better and sure not all of them will learn but many would learn how to handle if from actually having it.