Billionaire wealth up by 13% annually since 2010; six times faster than ordinary worker wages.

[Fanu]

https://www.vanguardngr.com/2018/01/worlds-top-1-earn-82-wealth-generated-2017-says-oxfam/

Billionaire wealth has risen by an annual average of 13 per cent since 2010; six times faster than the wages of ordinary workers, which have risen by a yearly average of just two per cent. “The number of billionaires rose at an unprecedented rate of one every two days between March 2016 and March 2017

“It would cost 2.2 billion dollars a year to increase the wages of all 2.5 million Vietnamese garment workers to a living wage. “This is about a third of the amount paid out to wealthy shareholders by the top five companies in the garment sector in 2016,” the report stated.

Honestly there is nothing more to add to this than:

edit*

can one of the mods fix the title? got cut off accidentally (quote is above)

 

[LatFlare]

The Dow Jones Industrial Average annualised return since 2010 with dividends reinvested is 14.18% so if you invested in a fund that tracks the market you could have beaten the evil billionaires.

 

[Post Mortem]

Oh no! People with more money than me exist! And it's against the law for me to make more money. Not fair.

 

[Fanu]

Oh no! People with more money than me exist! And it's against the law for me to make more money. Not fair.

so you don't mind that they are gaining their wealth at the cost of paying their employees peanuts ?

how much money do you have to have before you say "ok, I am going to pay my workers more and treat them as humans instead of as slaves" ? guess earning 400mil per year just isnt enough..

+ not everyone is in the position to become wealthy even tho they have the drive/knowledge to become so - if everyone was on equal footing and had a chance of becoming billionare, I wouldnt mind this system

 

[kpt018]

The Dow Jones Industrial Average annualised return since 2010 with dividends reinvested is 14.18% so if you invested in a fund that tracks the market you could have beaten the evil billionaires.

It should be obvious for people, but there’s a big math problem here.

Let’s say you make $50k a year. You would be very disciplined and doing well if you saved and invested 15% of that, but 10% would be great too. But if you’re a high income earner, say make a million a year, you can save almost all of it if you wanted, but can live lavishly if you saved 25% of it. If you’re a billionaire you probably have 99.9% of it invested! So no, if you’re a regular guy and you invest you’re still not coming out even with high income earners. And obviously there’s compounding,,,

I’m not the type who’s going to talk badly about rich people and I know many and they’re patriotic too. We just need to be honest about what’s going on here and high income earners/high net worth folks have huge advantages. It’s ok to admit it!

 

[Bloodworth]

There are some that do very little and receive way too much.

Then there are some who will never work a day in their life and question why others have more money

 

[Seaside]

Celebrity and athletic culture also a problem it will always make sure a underclass.

 

[LatFlare]

It should be obvios for people, but there’s a big math problem here.

Let’s say you make $50k a year. You would be very disciplined and doing well if you saved and invested 15% of that, but 10% would be great too. But if you’re a high income earner, say make a million a year, you can save almost all of it if you wanted, but can live lavishly if you saved 25% of it. If you’re a billionaire you probably have 99.9% of it invested! So no, if you’re a regular guy and you invest you’re still not coming out even with high income earners. And obviously there’s compounding,,,

I’m not the type who’s going to talk badly about rich people and I know many and they’re patriotic too. We just need to be honest about what’s going on here and high income earners/high net worth folks have huge advantages. It’s ok to admit it!

You're an idiot.

 

[mixmastermo]

I have a friend that tried to sell me on Libertarianism a few years back. He had been browsing forums and reading up on the subject for a long time. He has no college education.

Long story short, he tried to use some pseudo-intellectual word salad about rights, property, force, etc. to convince me that we shouldn't be paying taxes and funding departments like education through collecting taxes is immoral. He also believed the markets should be completely unregulated, that they fix themselves all the time.

As much as I tried to give those ideas the benefit of the doubt I couldn't help to think this whole thing was invented to try to convince these people they're smart while the rich get richer. It's painfully obvious to anyone with a brain that the rich will do what it takes to make more money and keep all the wealth to themselves.

 

[kpt018]

You're an idiot.

I appreciate your mature and well thought out, reasoned response. It makes for great dialogue online which benefits myself and the readers. Thank you!

 

[kpt018]

I have a friend that tried to sell me on Libertarianism a few years back. He had been browsing forums and reading up on the subject for a long time. He has no college education.

Long story short, he tried to use some pseudo-intellectual word salad about rights, property, force, etc. to convince me that we shouldn't be paying taxes and funding departments like education through collecting taxes is immoral. He also believed the markets should be completely unregulated, that they fix themselves all the time.

As much as I tried to give those ideas the benefit of the doubt I couldn't help to think this whole thing was invented to try to convince these people they're smart while the rich get richer. It's painfully obvious to anyone with a brain that the rich will do what it takes to make more money and keep all the wealth to themselves.

Those ideas are better left on forums because they don’t map on to reality. The libertarian arguments fall apart every time you eat and don’t get food poisoning, take a flight that doesn’t crash, drink clean water that wasn’t polluted by a business looking to cut corners, etc.. We should all be libertarian in some respects but the nutters like your friend take it to the extreme.

And yes, you’re intuition is also right. That’s exactly why Koch brothers support libertarian and far right types. They are ideologically nuts too, but the policies line their pockets.

 

[mixmastermo]

Paul Ryan made a cool $500k from the Koch's just a few days after the tax bill was passed. We don't even know if he's running for reelection.

 

[kpt018]

Paul Ryan made a cool $500k from the Koch's just a few days after the tax bill was passed. We don't even know if he's running for reelection.

And if he was serious about not running there’s a cushy 7 figure job waiting for him. Probably as a lobbyist or consultant.

 

[Phisher]

The Dow Jones Industrial Average annualised return since 2010 with dividends reinvested is 14.18% so if you invested in a fund that tracks the market you could have beaten the evil billionaires.

That's assuming:

1. That a person didn't already lose his shirt in the market or in their home equity during the crash of 2008, which was largely engineered by Wall Street plutocrats. Most regular people who got hit by the cash still haven't broken even.

2. That a person has the disposable income to invest in the market in the first place.


The record DJIA means nothing for the average American. The majority of the country doesn't have the means to invest a significant amount of capital in the market, and the majority of investments are held by the wealthy and big business.

 

[LatFlare]

That's assuming:

1. That a person didn't already lose his shirt in the market or in their home equity during the crash of 2008, which was largely engineered by Wall Street plutocrats. Most regular people who got hit by the cash still haven't broken even.

2. That a person has the disposable income to invest in the market in the first place.


The record DJIA means nothing for the average American. The majority of the country doesn't have the means to invest a significant amount of capital in the market, and the majority of investments are held by the wealthy and big business.

This thread is about the rate of wage growth vs the rate of wealth growth of billionaires since 2010. I simply demonstrated that anyone can invest money and achieve the same rate of return as the billionaires. Do you have $100? You can invest it.

Beat it with ya straw man rubbish.

 

[Cuauhtemoc]

It should be obvios for people, but there’s a big math problem here.

Let’s say you make $50k a year. You would be very disciplined and doing well if you saved and invested 15% of that, but 10% would be great too. But if you’re a high income earner, say make a million a year, you can save almost all of it if you wanted, but can live lavishly if you saved 25% of it. If you’re a billionaire you probably have 99.9% of it invested! So no, if you’re a regular guy and you invest you’re still not coming out even with high income earners. And obviously there’s compounding,,,

I’m not the type who’s going to talk badly about rich people and I know many and they’re patriotic too. We just need to be honest about what’s going on here and high income earners/high net worth folks have huge advantages. It’s ok to admit it!

According to Paul Ryan, Cindy can now save 700 dollars each year. If she invests in stocks it's just a matter of time she will climb to wealth.

 

[ShadowRun]

Some people are so jealous and obsessed with rich people .....

 

[kpt018]

According to Paul Ryan, Cindy can now save 700 dollars each year. If she invests in stocks it's just a matter of time she will climb to wealth.

Yeah, a LOT of time. If she can just hang in she’ll be a millionaire by the time she’s 92.

 

[kpt018]

This thread is about the rate of wage growth vs the rate of wealth growth of billionaires since 2010. I simply demonstrated that anyone can invest money and achieve the same rate of return as the billionaires. Do you have $100? You can invest it.

Beat it with ya straw man rubbish.

And I demonstrated that there are very obvious reasons why the gap increases over time and instead of addressing it you called me an idiot. When you pull that type of shit you lose the credibility to demand better arguments from others bud.

 

[LatFlare]

And I demonstrated that there are very obvious reasons why the gap increases over time and instead of addressing it you called me an idiot. When you pull that type of shit you lose the credibility to demand better arguments from others bud.

But you are an idiot. You only want to complain.