It never trickles down.
It will trickle down any second now
Submitted 5 days ago by HaiZhung@feddit.org to aboringdystopia@lemmy.world
https://feddit.org/pictrs/image/1116beb6-6436-439c-9761-30ddc23a212f.jpeg
Comments
Itdidnttrickledown@lemmy.world 4 days ago
GhostedIC@sh.itjust.works 4 days ago
The bottom 50% of households have an average net worth of $629?
DeICEAmerica@lemmy.world 4 days ago
People who don’t own their homes, cars, etc have no net worth other than what’s in their savings. Most of us are living day to day. It’s not that hard to fathom.
Maggoty@lemmy.world 4 days ago
Most of America cannot absorb a sudden expense of 400-1000 dollars.
UltraMagnus@startrek.website 4 days ago
Taking into consideration the large amount of credit card debt, student loans, mortgages, etc.? It’s plausible.
Aetherion@lemmy.world 5 days ago
This is so disgusting.
Jankatarch@lemmy.world 4 days ago
At first I thought it was combined. Not “individually each.”
DeICEAmerica@lemmy.world 4 days ago
Every 30 FUCKING HOURS, since Covid, another Billionaire is created. That number was halfed before 2020. It means that nearly 500 people became billionaires while pretending they needed to raise prices astronomically to stay solvent. They need to be tried and sentenced harshly. VERY harshly.
phil@lymme.dynv6.net 4 days ago
The “money” used to buy bread is a very practical medium to exchange resources. These figures with too many digits are not real: that “money” is a result of sums of products of virtual values based on credit and speculation. The fact that the same symbol ($) is used for these two very different things sounds like a systemic bug.
Maggoty@lemmy.world 4 days ago
You say that but they can and do use that virtual value to buy bread.
phil@lymme.dynv6.net 3 days ago
Sure they can buy bread, but here’s the catch: it’s like going to the bakery, asking for free bread with the promise that you’ll pay later because you can show 10 digit numbers, even if your pockets are actually empty. So these people practically live on credit because the market value would crash if they sell. At a macro level, 97 % of every dollar is actually debt (credit), mostly created by private banks to feed the system: econcurrents.com/…/where-does-us-money-come-from-….
Soleos@lemmy.world 4 days ago
True, but if Elon gave you $1 million in Tesla stock you could still easily sell it, be taxed on it, and use the remainder to buy a lot of bread.
borQue@lemmy.zip 5 days ago
478 billion for Musk. Happily he found a way to destroy money as effectively as possible by building the biggest rockets ever and let them explode over and over again.
taiyang@lemmy.world 5 days ago
Roughly speaking, if you murdered and seized their wealth by liquidating their assets at current value, that’s like… 6k donation to half of the US.
That’s assuming 50% of about 340m people with big economic assumptions that won’t hold up, but fun to think about. It’s not a ton of money even then, but it’d probably do more for everyone than under some dragon. Course, we could also just tax them a large amount like we used to, which accomplishes the same thing without the murder.
morphballganon@mtgzone.com 5 days ago
What people often forget about trickle-down economics is that wealth only trickles down to named beneficiaries
victorz@lemmy.world 5 days ago
Not to mention that the top owner owns more than the second and third combined…
desmosthenes@lemmy.world 5 days ago
robber barrons 2.0
DeICEAmerica@lemmy.world 4 days ago
and they couldn’t just be happy being that rich. They got bored and decided to kill us all. They need to be rounded up and put on trial. Why are people so afraid of rich people ~ Luigi
zr0@lemmy.dbzer0.com 5 days ago
Well, only on paper. Someone actually has to buy their shares first.
dogs0n@sh.itjust.works 5 days ago
You’d think that, but go research or watch a video and get informed on how these bimbos use their networth (stocks) as collateral for bank loans of still more money than we will ever see in our life times (that they never really pay back btw).
AdolfSchmitler@lemmy.world 5 days ago
They take out loans against their stock, kind of like a HELOC. So they get money without reporting any income too cuz it’s a loan.
zr0@lemmy.dbzer0.com 5 days ago
Of course. Never said that those are 100% stocks. They have massive expenses to cover and they use the stock value as leverage. The banks giving out loans are creating the bubble.
baltakatei@sopuli.xyz 5 days ago
The only peaceful way I see wealth being redistributed is if Musk, Bezos, and Zuckerberg use regulatory capture to reform government in order to raise their own taxes. Such a scale of philanthropy hasn’t been seen since the robber barons Andrew Carnegie and John D. Rockefeller donated to build libraries and improve public education. Had those Guilded Age monopolists they also used their wealth to compel the US’s legislative branch to raise taxes, bolster anti-trust laws, and prevent the acceptance of consumer welfare doctrine over plain anti-monopoly policy, then I’d argue their donations to improve public education would have gone much farther.
That said, plenty of non-peaceful ways exist much like there are many ways for an iceberg to flip over.
borQue@lemmy.zip 5 days ago
Cannot wait for the next big solar flare that destroys all online servers of Fakebook and shAmazon. All this money will actually turn out to be a fake bubble…
Capt_Trav@reddthat.com 5 days ago
Can someone do the math for me… If theoretically that was all liquid and those 3 got Thanos snapped with the money redistributed, how much would each American get?
AlphaOmega@lemmy.world 5 days ago
About $2500 per person
brucethemoose@lemmy.world 5 days ago
And this graph is old, isn’t it? Their wealth is snowballing rapidly, hence Larry Ellison is at $250B now.
SupahRevs@lemmy.world 5 days ago
We need to raise taxes until capital increases at a rate closer to wage gains. This is basically what Piketty talked about in Capital in the 21st Century.
ODuffer@lemmy.world 5 days ago
The Broligarchy www.instagram.com/reel/DQF5bjZAVkc/
AntiBullyRanger@ani.social 5 days ago
88 posts, and nobody actual does poop.
Now go tell an American to revolt, you’ll get billions of excuses.
melsaskca@lemmy.ca 5 days ago
All imbalances will eventually be self-corrected. It’s the law of the universe. Play with those rockets while you can, big boys.
Digit@lemmy.wtf 5 days ago
Yeah, the karmic elastic always snaps back.
But not always cleanly. A lot of messy splashback and flailing around to harm others in the process.
May be better if we get a grip and ease things back, rather than waiting for things to get so far they have their calamitous resolve.
AdolfSchmitler@lemmy.world 5 days ago
But how many people have to suffer while we wait for the universe to correct itself?
housedogpartyfavor@lemmy.zip 4 days ago
this appears roughly 1/3 of the third richest person is more wealthy than the bottom 50%
Aceticon@lemmy.dbzer0.com 5 days ago
Turns out that the golden stuff streaming down ain’t Gold …
Auli@lemmy.ca 5 days ago
Why do we put up with this shit. We need a revolt but it won’t happen as most people are not angry enough as they have their phone addiction. Beer and circuses.
Agent641@lemmy.world 5 days ago
The only way it trickles down is they Charlie Kirk showed us