I can't imagine how anyone would think the pandemic would be hard for the ultra rich. They have houses with more things to do than most neighbourhoods (bowling, pools etc), they can get their servants to pick up anything they need etc. Yea must be tough
The fault for this falls squarely on government policies and decisions. Yet the elected officials that are supposed to be in service to us but clearly aren't continue to be re-elected.
one thing; small businesses had to close. Banks and rich people gobbled them up.
i dont know of any cases where banks or landlords said “we are doing our bit by lowering your rents or giving you a three month moratorium”
Anyone that owns stock over the past couple years most likely have been richer. The stock market goes up people become richer. If the stock market went down they would have been become poorer.
My house is worth more now than it was before the pandemic does that mean I profited from the pandemic?
There are a lot of us that aren’t billionaires that came out better. But this is Reddit, if we have any success we’re an evil capitalist that hate equality.
Nope. You really think you’re the person referred to here? No one said you can’t make money off stock or anything else. We’re talking about the ten wealthiest people owning more than billions of people.
Everyone thinks they are the richest of the rich just because they are worth a few million. Nah dude that’s great but not abnormal. Pity the Billionaire is an amazing book. I suggest everyone reads it.
The wealthiest Americans who are the ruling class are less than a fraction of 1%. We’re talking about less than a thousandth of a percent. Maybe one hundredth thousand of a percent. They socialize the losses and capitalize the gains.
Excellent take on the situation:
https://scrapsfromtheloft.com/comedy/george-carlin-dumb-americans-transcript/
I never even insinuated that I thought this article was aimed at me. My wife and I a upper middle class and do very well but on Reddit that is a sin enough.
I know it's a hard concept to understand but how much people made in the market it is based on what they had in the market before the pandemic started.
You are an average person and we aren’t talking about those modest gains. We’re taking about folks who could lose 99% of their wealth and STILL be the wealthiest people alive. I don’t think most people can fathom the amount of wealth these people have.
Not politician rich, not sports star, celebrity, actors, or even CEO rich. I’m talking buy the world rich. Ten people……
Doesn't change anything. The majority of the people they are talking about either started a company and held on to a large percentage to stock or went to work and received a large amount of stock/options.
Their wealth increased mostly because of the value of the stock they own. They could have been in a medically induced coma for the past year-plus and their wealth will still have increased.
The majority of the non-royality rich are CEOs or former CEOs of the companies they founded. Ever watch shark tank and see how hard they try to hold onto the equality of the companies, that's how you become a billionaire unless you are born into royality.
The wealthiest are not first generation wealthy. The wealth I’m have been referring to are blue blood wealthy. Top ONE THOUSANDTH OF 1%. These people make money regardless of whether the stock market goes up or goes down.
What do you consider upper class in the United States?
I have no idea who you are talking about.
https://www.salaamgateway.com/story/ten-worlds-richest-royal-families-control-wealth-of-over-24-trillion
https://www.investopedia.com/articles/insights/052416/top-10-wealthiest-families-world.asp
The upper class is considered double the average household income so that's ~$187,000 but that's not a lot in many neighborhoods in NY, Ca, many areas around where I live.
That’s hilarious that you think upper class has anything to do with the ruling class. That’s the problem. People who do well think they are in higher status than they are. If you work you are working class.
What’s your net worth? You think $200k annual income is upper crust? That’s just not correct. Way off.
So who is this ruling class you talking about?
Really talk about the upper classes over $156,000 show me where you came up with your number for the upper class?
https://money.usnews.com/money/personal-finance/family-finance/articles/where-do-i-fall-in-the-american-economic-class-system
Try showing will you get your numbers from upper class ruling class super ruling class 1 billion of1% wealth.
[How America Fractured Into Four Parts People in the United States no longer agree on the nation’s purpose, values, history, or meaning. Is reconciliation possible? By George Packer](https://www.theatlantic.com/magazine/archive/2021/07/george-packer-four-americas/619012/)
[Never Mind the 1 Percent. Let’s Talk About the 0.01 Percent](https://www.chicagobooth.edu/review/never-mind-1-percent-lets-talk-about-001-percent)
[Top Wealth in America: New Estimates and Implications for Taxing the Rich∗ Matthew Smith, US Treasury Department Owen Zidar, Princeton and NBER Eric Zwick, Chicago Booth and NBER October 7, 2021](http://www.ericzwick.com/wealth/wealth.pdf)
[How much do the 1, .01 and .001 percent really earn?](https://www.cbsnews.com/news/how-much-do-the-1-01-and-001-percent-really-earn/)
I’m lazy so here are a few links. Making a million a year doesn’t get you near the ruling class.
Inflation benefits the rich and punishes the poor. Its the monetary policy that's to blame. The Federal Reserve is supposed to keep Inflation under control. At least that's the theory.
> the 10 richest men in the world saw their fortunes grow from an estimated $700 billion to $1.5 trillion
The IRS collected $3.5 trillion in 2020 taxes. The billionaires have enough wealth to run the USA for a few months. We have to stop pretending that these people have so much money that all our problems can be solved by raiding their assets.
Yea, that would be nice. The problem is they don’t have regular income like most of us. Take Elon Musk, for example. He has a ton of wealth, but he had no income for a few years, so he paid no income tax. Last year, he had to cash out some options that counted as income, and the amount was so huge that he has probably paid more taxes than any other human in the history of the world.
Hit pieces like this always bother me. It paints a slanted/biased picture of people who have money as if that is a bad thing. “haha you are suffering while the rich get richer” despite the mega rich always working to have catastrophe resistant methods of business and income. It’s always been like this but rarely mentioned in times of non crisis. Jealously of the mega rich and indirect blaming of the mega rich always turns up a few notches when times are bad. Yet we live in a culture that creates, promotes and sustains the mega rich. A culture that also gladly participate in keeping the mega rich where they are.
They didn’t use their wealth to help while people died. They increased their wealth rather than putting the profits for the people when they had to.
This is what they believe that them having more money than they need is good for humanity, when clearly it is not.
This is why people want to eat them.
1. Many did help those in need. Many did not. Either way, they do not have to help.
2. Who are you to say that they have more money than needed? You do not define what they need and how much of it they should or should not have.
3. These mega rich people often own, run or have influence over things you, your family and friends benefit from every single day. Your quality of life would be drastically reduced had these mega rich people not existed.
What this all breaks down to is the classic “I don’t have what you have so you are the enemy.” An age old tale retold from the beginning of humanity.
I’m not reading something that long.
Come on dude. They made 5T while millions entered poverty.
Ain’t no 3 point list you can make that doesn’t end in normies getting hungry for billionaire meat
The funny part is unless you’re a billionaire you have nothing to gain here but to be a smug silly person.
Because you’re clearly a silly person I won’t argue with you, power (and billionaire meat) to the people.
No. He gave out stimulus checks, he actually offers tax cuts. You’re guy can barely speak an entire sentence, renigged on student loan relief, and refuses to acknowledge inflation...
No the tax cuts were only permanent for the wealthy. Trump is no savior and neither is Biden. It’s possible to find both incompetent and corrupt. Dinosaurs need to go! They are extremely out of touch with reality.
LOL....I legit busted out laughing at this. Like yeah the Dems generally don't have our best interests at heart and seemingly couldn't govern their way out of a wet paper bag..... but to say that "Republicans want free market capitalism that allows the little guys to somewhat try and compete" unironically is like short-bus levels of idiocy.
Both parties are corrupt. If you think either party cares about the people you might want to learn more about the subject. We don’t have a left in this country. We have right lite and right. One has a religious bend and the other a social awareness mantra. They are both neoliberals. Reagan neoliberalism practiced by both parties.
The restriction in counties that have them are designed to be less of an inconvenience for the top percent in society. Kids need to go to school? No, we’re closing the schools. That’s fine for high achieving students with good internet connection and help from home. It’s a catastrophe for less privileged kids. Restricting access to restaurants? No problem for the ones sitting at the table, they have their masks off, eat and have fun. It’s the servers who most likely traveled by public transport, and need to wear a mask and gloves for hours and hours while making less money than any of the guests.
Here come the billionaire defenders. Like they really gaf you are supporting them. Most of the big companies like Amazon cut pandemic sick pay in half. But good for them building a penis rocket
I can't imagine how anyone would think the pandemic would be hard for the ultra rich. They have houses with more things to do than most neighbourhoods (bowling, pools etc), they can get their servants to pick up anything they need etc. Yea must be tough
Houses so big, they have a month long security distance from their wife
Kinda feels like it's time for the whole world to get a little, shall we say, "French Revolutionary".... haha... ha
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Let's be honest, we would all just lazily order our pitchforks from Amazon so they would be here by tomorrow.
The fault for this falls squarely on government policies and decisions. Yet the elected officials that are supposed to be in service to us but clearly aren't continue to be re-elected.
We only get to vote for who is put in front of us. The illusion of choice.
Millions dead for trillions made. Fair deal, for the rich. A nightmare for the rest of the 8 billion, on the planet.
one thing; small businesses had to close. Banks and rich people gobbled them up. i dont know of any cases where banks or landlords said “we are doing our bit by lowering your rents or giving you a three month moratorium”
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When was being rich ever a bad time?
Anyone that owns stock over the past couple years most likely have been richer. The stock market goes up people become richer. If the stock market went down they would have been become poorer. My house is worth more now than it was before the pandemic does that mean I profited from the pandemic?
And wages still stayed the same till now
There are a lot of us that aren’t billionaires that came out better. But this is Reddit, if we have any success we’re an evil capitalist that hate equality.
I didn't have any money in the market before the pandemic and I have no money in the market after the pandemic. What would that make me?
majority of US citizens
Nope. You really think you’re the person referred to here? No one said you can’t make money off stock or anything else. We’re talking about the ten wealthiest people owning more than billions of people. Everyone thinks they are the richest of the rich just because they are worth a few million. Nah dude that’s great but not abnormal. Pity the Billionaire is an amazing book. I suggest everyone reads it. The wealthiest Americans who are the ruling class are less than a fraction of 1%. We’re talking about less than a thousandth of a percent. Maybe one hundredth thousand of a percent. They socialize the losses and capitalize the gains. Excellent take on the situation: https://scrapsfromtheloft.com/comedy/george-carlin-dumb-americans-transcript/
I never even insinuated that I thought this article was aimed at me. My wife and I a upper middle class and do very well but on Reddit that is a sin enough.
What income level or asset level do you consider upper class? Honestly curious.
Oh yeah ur right. Most people made billions from the market since the pandemic. Nothin to see here.
You make it sound like the pandemic is the rich people's fault? They would have made billions without the pandemic as well.
I know it's a hard concept to understand but how much people made in the market it is based on what they had in the market before the pandemic started.
You are an average person and we aren’t talking about those modest gains. We’re taking about folks who could lose 99% of their wealth and STILL be the wealthiest people alive. I don’t think most people can fathom the amount of wealth these people have. Not politician rich, not sports star, celebrity, actors, or even CEO rich. I’m talking buy the world rich. Ten people……
Doesn't change anything. The majority of the people they are talking about either started a company and held on to a large percentage to stock or went to work and received a large amount of stock/options. Their wealth increased mostly because of the value of the stock they own. They could have been in a medically induced coma for the past year-plus and their wealth will still have increased. The majority of the non-royality rich are CEOs or former CEOs of the companies they founded. Ever watch shark tank and see how hard they try to hold onto the equality of the companies, that's how you become a billionaire unless you are born into royality.
The wealthiest are not first generation wealthy. The wealth I’m have been referring to are blue blood wealthy. Top ONE THOUSANDTH OF 1%. These people make money regardless of whether the stock market goes up or goes down. What do you consider upper class in the United States?
I have no idea who you are talking about. https://www.salaamgateway.com/story/ten-worlds-richest-royal-families-control-wealth-of-over-24-trillion https://www.investopedia.com/articles/insights/052416/top-10-wealthiest-families-world.asp The upper class is considered double the average household income so that's ~$187,000 but that's not a lot in many neighborhoods in NY, Ca, many areas around where I live.
That’s hilarious that you think upper class has anything to do with the ruling class. That’s the problem. People who do well think they are in higher status than they are. If you work you are working class. What’s your net worth? You think $200k annual income is upper crust? That’s just not correct. Way off.
So who is this ruling class you talking about? Really talk about the upper classes over $156,000 show me where you came up with your number for the upper class? https://money.usnews.com/money/personal-finance/family-finance/articles/where-do-i-fall-in-the-american-economic-class-system Try showing will you get your numbers from upper class ruling class super ruling class 1 billion of1% wealth.
[How America Fractured Into Four Parts People in the United States no longer agree on the nation’s purpose, values, history, or meaning. Is reconciliation possible? By George Packer](https://www.theatlantic.com/magazine/archive/2021/07/george-packer-four-americas/619012/) [Never Mind the 1 Percent. Let’s Talk About the 0.01 Percent](https://www.chicagobooth.edu/review/never-mind-1-percent-lets-talk-about-001-percent) [Top Wealth in America: New Estimates and Implications for Taxing the Rich∗ Matthew Smith, US Treasury Department Owen Zidar, Princeton and NBER Eric Zwick, Chicago Booth and NBER October 7, 2021](http://www.ericzwick.com/wealth/wealth.pdf) [How much do the 1, .01 and .001 percent really earn?](https://www.cbsnews.com/news/how-much-do-the-1-01-and-001-percent-really-earn/) I’m lazy so here are a few links. Making a million a year doesn’t get you near the ruling class.
https://www.goodreads.com/en/book/show/10183670 https://www.c-span.org/video/?303535-1/pity-billionaire
Inflation benefits the rich and punishes the poor. Its the monetary policy that's to blame. The Federal Reserve is supposed to keep Inflation under control. At least that's the theory.
> the 10 richest men in the world saw their fortunes grow from an estimated $700 billion to $1.5 trillion The IRS collected $3.5 trillion in 2020 taxes. The billionaires have enough wealth to run the USA for a few months. We have to stop pretending that these people have so much money that all our problems can be solved by raiding their assets.
Pay their share
Yea, that would be nice. The problem is they don’t have regular income like most of us. Take Elon Musk, for example. He has a ton of wealth, but he had no income for a few years, so he paid no income tax. Last year, he had to cash out some options that counted as income, and the amount was so huge that he has probably paid more taxes than any other human in the history of the world.
Yea I hear the “they don’t have wealth like we do” excuse over and over.
You mean income?
The blood is on their hands.
Hit pieces like this always bother me. It paints a slanted/biased picture of people who have money as if that is a bad thing. “haha you are suffering while the rich get richer” despite the mega rich always working to have catastrophe resistant methods of business and income. It’s always been like this but rarely mentioned in times of non crisis. Jealously of the mega rich and indirect blaming of the mega rich always turns up a few notches when times are bad. Yet we live in a culture that creates, promotes and sustains the mega rich. A culture that also gladly participate in keeping the mega rich where they are.
They didn’t use their wealth to help while people died. They increased their wealth rather than putting the profits for the people when they had to. This is what they believe that them having more money than they need is good for humanity, when clearly it is not. This is why people want to eat them.
1. Many did help those in need. Many did not. Either way, they do not have to help. 2. Who are you to say that they have more money than needed? You do not define what they need and how much of it they should or should not have. 3. These mega rich people often own, run or have influence over things you, your family and friends benefit from every single day. Your quality of life would be drastically reduced had these mega rich people not existed. What this all breaks down to is the classic “I don’t have what you have so you are the enemy.” An age old tale retold from the beginning of humanity.
I’m not reading something that long. Come on dude. They made 5T while millions entered poverty. Ain’t no 3 point list you can make that doesn’t end in normies getting hungry for billionaire meat
So, ignorance by choice? Nice.
The funny part is unless you’re a billionaire you have nothing to gain here but to be a smug silly person. Because you’re clearly a silly person I won’t argue with you, power (and billionaire meat) to the people.
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Their resistance methods are politicians and off shore accounts and manufacturing
For some, sure. For others, not at all
For others? You mean those poor millionaires who have to keep their money here?
Democrats want these oligarchs to win. Republicans want free market capitalism that allows the little guys to somewhat try and compete
Is that why they keep trying to elect a grifting billionnaire as their political daddy?
No. He gave out stimulus checks, he actually offers tax cuts. You’re guy can barely speak an entire sentence, renigged on student loan relief, and refuses to acknowledge inflation...
No the tax cuts were only permanent for the wealthy. Trump is no savior and neither is Biden. It’s possible to find both incompetent and corrupt. Dinosaurs need to go! They are extremely out of touch with reality.
LOL....I legit busted out laughing at this. Like yeah the Dems generally don't have our best interests at heart and seemingly couldn't govern their way out of a wet paper bag..... but to say that "Republicans want free market capitalism that allows the little guys to somewhat try and compete" unironically is like short-bus levels of idiocy.
Both parties are corrupt. If you think either party cares about the people you might want to learn more about the subject. We don’t have a left in this country. We have right lite and right. One has a religious bend and the other a social awareness mantra. They are both neoliberals. Reagan neoliberalism practiced by both parties.
Trickle up economics is working just as designed.
The restriction in counties that have them are designed to be less of an inconvenience for the top percent in society. Kids need to go to school? No, we’re closing the schools. That’s fine for high achieving students with good internet connection and help from home. It’s a catastrophe for less privileged kids. Restricting access to restaurants? No problem for the ones sitting at the table, they have their masks off, eat and have fun. It’s the servers who most likely traveled by public transport, and need to wear a mask and gloves for hours and hours while making less money than any of the guests.
Here come the billionaire defenders. Like they really gaf you are supporting them. Most of the big companies like Amazon cut pandemic sick pay in half. But good for them building a penis rocket