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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby egbert » Mon Sep 11, 2017 11:47 am

as.erwin: I actually haven't defined "fair." I asked you to define it...

Maybe I should have said "reasonable", maybe that would have cleared up some confusion? In a free, modern society such as our own, what would you EXPECT to be a REASONABLE off the top of your head figure for what the bottom 40% own?
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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby dai » Tue Sep 12, 2017 12:00 am

In the United States, wealth is highly concentrated in a relatively few hands. The top 1% of households own 33.4% of all privately held wealth, and the next 19% have 51%, which means that just 20% of people own a remarkable 84%, leaving only 16% of the wealth for the bottom 80%.


16% for the bottom 80%.
I couldn't find any stats on the bottom 40%.

For purposes of studying the wealth distribution, economists define wealth in terms of marketable assets,

Once the value of all marketable assets is determined, then all debts, such as home mortgages and credit card debts, are subtracted, which yields a person's net worth.
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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby Fitzwalter » Tue Sep 12, 2017 1:21 am

How pathetic are some of these answers? They are completely self-seving and in some cases elitest and racist.

How funny that they don't see themselves as those hard workers who own very little.

You are being punished because you're not wealthy enough to put your money in tax shelters.
You're working your *** off not to offset what the poor don't supposedly contribute, but what the ultra-weathy get away with not paying.

Ah yes, all the little peans that work for a living.
Someone has to work the white-collar jobs.

That's true, but try competing with the kids who go to private schools that cost $20,000 a year.
And don't think a voucher will get you close to covering that cost.
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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby Cleit » Tue Sep 12, 2017 1:39 am

The top 20% own 80% of everything worth owning.
The rest is spread out unequally among the 80% of the rest of the population.
The bottom 1/4 of the population actually have no real assets at all except for some personal belongings.
In most cases this group is constantly in debt and for those with regular employment they're usually no more than a couple of paychecks away from total poverty.
Only about 10 to 15% of people at age 65 are fully self supporting and rely on social security for most of their income.
Even some people who who did well and invested 'wisely' land up broke when financial reverses come late in life.
Illness is the main culprit, but a suddenly falling stock market or a fall in bank certificate of deposit rates often leaves seniors behind the income to expense curve.
Basically for most of the US population that has an income that's less than the current mean of $35,000 a year family income is in constant danger of economic collapse.
A single person earning $35,000 a year still isn't rich, but if fairly thrifty can build up a fairly good amount of wealth over many years.
For those without such an income or a meager income and attempting to raise a family it's like living in a 3rd world country.
Income of course doesn't have to be 'fair', nor could it be, but a reasonable economy provides for honest work for honest wages, a strong social safety net and a well funded education system up to the university level and affordable health insurance.
Given that kind of social infrastructure the entire society benefits...without it, 'fair' or not, societies suffer from other money draining social problems.
It's obvious that the US is currently suffering from a high level of poverty and near poverty at a significant level, while also boasting of a small level of rich and super rich citizens.
Oddly, this is a situation that very well could lead to 'socialism'...but that's a different question for a different time.
MY take on this: Take care of the 95% of us that comprise the 'working class' and everything else will fall into place.
Ignore the working class and the reverse is true.

A bold peasantry/their country's pride/ when once destroyed/can never be supplied.
Something to think about!
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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby bentlie68 » Tue Sep 12, 2017 8:43 pm

The only thing you have accomplished with this question is to identify your left leaning tendencies.
It's been reported many many times that largest proportion of taxes are paid by the "very wealthy" and the rest by middle classes . So I would think that your a little off on your numbers.
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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby Patten » Wed Sep 13, 2017 11:40 am

I would say probably 1-2% of the wealth of this country.


The problem is that people think all Americans have the same opportunity which is false.


I dont think I need to remind anyone that conservatives back in the 1930s fought tooth and nail against the tax bracket system we have today.
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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby Poldie » Wed Sep 13, 2017 2:59 pm

Why are you aiming this question at Republicans? What about Democrats? Libertarians? Communists? Fascists? Totalitarians? Authoritarians?

How could you possibly conclude that someone is earning "too much" and then deny them of their income? They're already paying more in terms of percentage.
How would you justify denying someone disproportionately more of their earnings under the guise of fairness, simply because they work harder and earn more? (People are paid by their productivity, not by merit)

Reducing the top percentile's wealth lowers the wealth of everyone below.
Ironically, the poor suffer the most when you punish the "wealthy".
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom..."

Every single dollar taken in taxes is a dollar unrealized by the economy in terms of wealth.
Siphoning money from the upper percentile does not equate to wealth generation - merely a transfer or shifting.
The economy grows by increased production, not consumption, and not via redirection of funds through a bureaucracy.

In what way are you personally pained by someone earning more or less than you? There is no finite pie of money that is divided amongst the population.
There are no slices of wealth.
There is no zero sum game, unless you're looking at the relationship between you and government - that is a zero sum, which is why government spending and government "stimulus" is a reduction and shifting of wealth.

A better question to ask: What percentage of the bottom 40% innovate, employ, and provide the greatest wealth generation for the remaining percentile of the economy.

It is economically impossible for the "rich to get richer" while the "poor get poorer".
Even the most miserly, evil, rotten, group of billionaires still invest, spend, and save.
Their dollars find their way back into the economy regardless.
Whether it be in the form of buying power, loaning power, or simple consumption.
Economic illiteracy is rampant more so now that ever.
See Dead Parrot's and Noah H's post below, for example.
Class envy and illiteracy in its "finest" form.
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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby Gerrald » Thu Sep 14, 2017 4:57 am

Even less now that the President has given huge bailouts to companies like Fanny Mae and AIG so they can pay bonuses to there executives.
Meanwhile BO gives us $26 extra in a paycheck that doesn't mean a thing when you consider our State taxes are going up, grocery costs are going up, gas is going up, BO is trying to pass Cap and Trade, etc.


Bravo for getting us all the change people.

EDIT:

The economy is BO's.
He ran for the Office.
It is his now.
In addition to that he is the freaking idiot giving all these bail outs to failing companies.
If that retard took all that bail out money he is borrowing and printing so he can give it to companies and banks and gave it to the American people he could write every American (men, women, and children) a check for over $40,000! Yes! This is his fault.
This clown is about as much a champion of the working class as I am the King of Brazil.
I didn't vote for that guy, I knew he was full of it.
However, a lot of you guys did, so it is your fault too.
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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby Barthel » Thu Sep 14, 2017 3:43 pm

The exact amount they earn through hard work, sacrifice and education. Not a penny more. Just like the rest of us. Some will make millions, others not a single dime. If you want to play this "fairness" nonsense... Is it fair for me to learn a skill, spend hours and days a week providing value for that skill and have to give the fruits of my labor to someone who did not choose to master any skill or spend any time practicing one. I just call that theft. That is not fair.
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Republicans...what Percentage Of American Wealth Is Owned By The Bottom 40% Of Americans?

Postby Brookes » Fri Sep 22, 2017 9:21 am

Well, let's also keep in mind, 40% of WORKERS don't pay any federal income taxes either...

So, I would say it evens out pretty well...

The top 5% of earners pay about 95% of the individual federal tax burden.

EDIT : Depends on what you call "fair"... You definition seems to be that no matter what someone does, no matter what education they have, no matter how hard they work... Everyone should have the same. I don't find anything fair about that at all! I work my *** off to provide for my kids. If I have more than you, I am really not sure why I should be PUNISHED for that! In the name of "fairness"? AS YOU DEFINE IT?
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