Half the world's wealth now officially in the hands of 1%

James Keith said:
The article was talking about total wealth, not annual income. And it's less than a million. The median home value in california is half a million, for some perspective.

Yeah you can work your way to that. Step 1: Pay attention in school and get yourself a profession like listed here:

http://career-advice.monster.com/salary-benefits/salary-information/high-lifetime-earnings/article.aspx

Step 2: Save your money.
Click to expand...

when you become a multimillionaire by saving and paying attention in school let me know. :rolleyes:
 
James Keith said:
The article was talking about total wealth, not annual income. And it's less than a million. The median home value in california is half a million, for some perspective.

Yeah you can work your way to that. Step 1: Pay attention in school and get yourself a profession like listed here:

http://career-advice.monster.com/salary-benefits/salary-information/high-lifetime-earnings/article.aspx

Step 2: Save your money.
Click to expand...

This is disingenuous. If we're looking at world wealth we're looking at world wealth. Half a million dollars goes WAY farther in some parts of the world than others.
 
Warren Buffett made close to $13 Billion last year. He paid $7 million in taxes. wtf! Hell yeah the rich need to come off of more money than that! If I made $1200 a month I would only see like $900 of it. The rich pay less taxes in america than the poor... dat what da problem is.
 
Capitalism is the real life version of Monopoly. Eventually someone is gonna win it all.
 
You want to be super rich, work hard at your job. Ask for extra assignments from your boss. Stay late at the office. Bring your boss a bagel in the morning, and coffee. Keep your cubicle neat and tidy. This is the path to wealth.
 
2DUM2TAP said:
Capitalism is the real life version of Monopoly. Eventually someone is gonna win it all.
Click to expand...

Some say JP Morgan was the inspiration for Mr. Monopoly

4a6c3f29a672afb285e68479db286391.545x360x1.gif


Pays to be a banker
 
No amount of hard work will help anyone join the "ruling class" you are either born into or you are not.

Do you think it's a coincidence that 3 different people with the same family (bush) have ran for president? Its called "family prestige". Your last name says a lot about you. Morgan, Rockefeller, Rothschild.
 
Almost half of that 1% is a million in total assets...that is the bare minimum to retired comfortably. That's a 50 year old couple with a paid off 350k House and a couple decent 401ks.
 
kahiljabroni said:
Almost half of that 1% is a million in total assets...that is the bare minimum to retired comfortably. That's a 50 year old couple with a paid off 350k House and a couple decent 401ks.
Click to expand...

Yeah pretty sure it is a very small fraction of the 1% with the lions share, and those people would also be clever to obfuscate their true wealth.
 
s karlyle said:
Warren Buffett made close to $13 Billion last year. He paid $7 million in taxes. wtf! Hell yeah the rich need to come off of more money than that! If I made $1200 a month I would only see like $900 of it. The rich pay less taxes in america than the poor... dat what da problem is.
Click to expand...

In Buffett's defense, money given to charity isn't counted towards income, and Buffett has historically given the vast majority of his income to charity. Not only that, but a significant part of the money he "makes" isn't vested, but is simply because properties increased in value. When he chooses to access that wealth and transform it into something he can use, it "vests" and becomes taxable. As an example, if you have a share of stock that increases in value by 50$ every year, you don't get taxed on that 50$ in value every year. However, when you sell that stock 4 years later, you get taxed on that 50$ for each year (200$). This has been my 2 AM discussion of why complaining about Buffett, specifically, is silly.

http://www.nytimes.com/2006/06/26/business/26buffett.html (85% of his personal wealth is the goal).
 
kahiljabroni said:
Almost half of that 1% is a million in total assets...that is the bare minimum to retired comfortably. That's a 50 year old couple with a paid off 350k House and a couple decent 401ks.
Click to expand...

Bullshit. If you're talking about world wealth, talk about world wealth. The fact that you're including people who make less than a dollar a day in that average means you also gotta account for the fact that you can live like a king for a million dollars in many parts of the world.
 
kahiljabroni said:
Almost half of that 1% is a million in total assets...that is the bare minimum to retired comfortably. That's a 50 year old couple with a paid off 350k House and a couple decent 401ks.
Click to expand...

You can live like a king for a million dollar in many parts of the world, even some countries in Eastern Europe.
 
Witch hunt!

Kill the billionaire! Kill the billionaire!

Sack him!

Money to the people. Factories to the workers.

And some free UFC PPV's for everyone so we don't have to stream.
 
Quipling said:
In Buffett's defense, money given to charity isn't counted towards income, and Buffett has historically given the vast majority of his income to charity. Not only that, but a significant part of the money he "makes" isn't vested, but is simply because properties increased in value. When he chooses to access that wealth and transform it into something he can use, it "vests" and becomes taxable. As an example, if you have a share of stock that increases in value by 50$ every year, you don't get taxed on that 50$ in value every year. However, when you sell that stock 4 years later, you get taxed on that 50$ for each year (200$). This has been my 2 AM discussion of why complaining about Buffett, specifically, is silly.

http://www.nytimes.com/2006/06/26/business/26buffett.html (85% of his personal wealth is the goal).
Click to expand...

With all do respect.. its corporate tax loopholes that allow this type of foolishness. If what you were saying was true he wouldn't currently be a multi billionaire. He's head of an international conglomerate that's worth trillions.

he's literally one of the single richest people in the world.

He needs to pay more taxes.
 
I wonder how say Michael Jordan feels about this issue
 
seriously tho, considering he had a crazy divorce, the fact the he's continued to amass wealth long after his playing days is astounding. most competitive dude alive
 
James Keith said:
The article was talking about total wealth, not annual income. And it's less than a million. The median home value in california is half a million, for some perspective.

Yeah you can work your way to that. Step 1: Pay attention in school and get yourself a profession like listed here:

http://career-advice.monster.com/salary-benefits/salary-information/high-lifetime-earnings/article.aspx

Step 2: Save your money.
Click to expand...

Not surprised to see MD absent from the list.
 
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