Source: Businessweek

Category: Economy, Taxes and Policy

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “The New Gilded Age”

  1. Jockular says:

    How many families’ assets = the 16,000 at the top? THAT is the best way to say it, IMO. Percentage isn’t as powerful. Pls. to inform….

  2. NMR says:

    I’m a minor capitalist but it’s grotesque in the context of 21st century. At some point the light bulb is going to come on and it won’t be pretty.

  3. STLTim says:

    Very interesting graphic. I wonder how it would change, though, if the stock market were to tank 10, 20, or even 50 percent? Or to ask the question in another way, how much of the 1%’s wealth is acounted for by a puffed-up market (for those of us who think it is overvalued)?

    • NMR says:

      Obviously since many of the super wealthy have their assets in equities it would have an effect in absolute terms as indeed it did in 2008/9 but they’ve recovered all that wealth and more. But in a slump most asset classes fall in value so there would a corresponding diminution in the wealth of the 99% so relativities would likely be largely unchanged or only modestly. And the market isn’t going to tank by 20% let alone 50%. Outside of tech and bio tech, which are currently undergoing a correction, valuations are not wildly elevated (at least in the opinion of myself and BR). Rain or shine these ratios are fairly immutable.

  4. VennData says:

    Sam Zell: Why fund managers need low taxes

    http://www.cnbc.com/id/101563510

    I have been using Sam Zell as a reverse indicator for a while. You should too.

    But maybe it’s the more they bitch about needing lower taxes for the rich means they see market opportunities, they want to throw money in to make even more.

  5. Mr.-Vix-It says:

    Tax the rich. It’s the simplest solution to bringing down the inequality spread but greed is a powerful aphrodisiac for these people. The only justice in life, the only real equality that exists is that the rich die like everyone else. No one is equal until the end.