Seize the Wealth!

[Jolly]

Maybe that's where Joe will find the money he wants...

https://jacobinmag.com/2020/10/united-states-class-based-wealth-distribution

[George K]

Shockers:

1. College-educated people have more money
2. Older people have more money

[xenon]

The middle 80% should always be the biggest point of focus (if they're doing well, then things should typically be fine).

That said - there is something wonky going on with the economy right now. A few concerns:
-Automation marginalizes the value of unskilled labor
-The world shifted to the internet, and the people/companies who got here first are looking permanently entrenched
-The regulatory environment favors large incumbents

[Mik]

They start out with the families that have a million or more net worth? A million net worth is only marginally secure financially. It’s nowhere near wealthy.

[jon-nyc]

It’s almost refreshing to see that class-based socialism still exists.

Every once in a while it’s good to be hated for a different reason other than race and gender.

[jon-nyc]

That magazine had a tweet defending the Berlin Wall last week. They ended up deleting it

[Jolly]

If you have earned income, you should pay income taxes.

Period.

It may not be much, but everybody should have skin in the game. Even the poor.

As for the highest taxpayers, at some point the taxes get too high and capital will flow away like water. I'm reminded that during Carter's (I think) Administration, taxes were so high on luxury items like yachts, it killed the American yacht building business. The rich Americans bought their yachts elsewhere. So government must find the balance point with them.

[Copper]

You live in the USA and you want wealth? Earn it.

You don't live in the USA and you want wealth? Move to the USA and earn it.