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Originally Posted by Bladed Thesis
(Post 748883)
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I said in or near. 100 million people live in or near poverty.
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Originally Posted by deflated penis
This is an incorrect statistic, mostly due to you misrepresenting the study and the study itself has been discredited by economists and statisticians across the US because of its wording. The study was based on SAVINGS accounts and specifically discounted anybody if it wasn't specifically ALL in their savings account. Further attempts at this study asked if people could afford a sudden bill of $1,000 from their savings account specifically and that study was also discredited by economists.
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Oh both studies were discredited by economists man my bad I must be imaging everyone struggling financially, great counter point. Maybe point out who discredited it if you're going to be this detailed in your breakdown? Maybe understand the sentiment of the comment and it's reality? I'm not interested in nitpicking, I'm interested in helping people in our country.
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Originally Posted by lives with gated geeses
Regardless of your feelings on how they achieved their wealth, why do you care if the horde their own money? Also, what quantifies an explosion as a counting term? Also, how do you know there’s an increase of billionaires who are hording instead of investing? Do they publish their financial transactions somewhere? The answer is no. It’s a biased assumption and frankly poor taste of discussion.
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First off "poor taste of discussion" lmao have some context of the thread you're in, guy. Second, I care because it's an unnecessary amount of money only made possible by exploitation of workers, crony capitalism, bought governments, the stock market, etc. I care because it's a reflection of a broken culture, society, anti-trust laws, and economy as a whole which I obviously think should work for everyone, not just the already wealthy. I care because the more this once impossible number becomes more accessible, the more poverty grows. What quantifies an explosion is jumping from double digit to almost 300 billionaires in 2001 alone. Jumping into the 400's within a decade and into the 600's within a decade after that. Rich people have never been richer. 400 people in America are worth $2.4 Trillion. When i say hoarding i mean keeping that money out of lower and middle class communities and instead solely in the upper class market. That obviously includes the high majority of investing. If the trend of growing billionaires continues, there continues to be less and less in lower and middle class circulation. If you think the trend of income inequality and the disappearance of the middle class is a coincidence alongside the astronomical growth in wealth of the top 1%, well, I just hope that's not the case. I'll let you answer. Literally billionaires themselves acknowledge the ridiculous accumulation they're experiencing as well as the problematic nature of record high inequality. Everyone knows the super wealthy are getting outrageously wealthier year by year. It's been more than enough cause for concern for anyone not in that class for a long time.
Top 1% starts at 300k. Hopefully that helps. Also, here:
https://www.usatoday.com/story/money...-1/1051947001/
https://www.marketwatch.com/story/it...lth-2019-02-11
https://www.weforum.org/agenda/2018/...ng-says-oxfam/
Now hopefully you understand that this is not a generalization, and while I will from here on out say 82% instead of "all" that does not change anything about the sentiment of what I'm saying. These numbers are disastrous for the 99%, incredible for the 1%. This is all I care about.
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This is true. But perhaps not a bad thing. I’ve already posted a big post today so I don’t have time to get into Federal minimum wage and how it doesn’t work the way you think it works. All I will say is do some research on the economics of minimum wage and bring me some citation for a discussion.
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I literally don't care what you have to say here. There is no humanity in economics. What I know is that it was created to be a living wage and it no longer is. And if it adjusted with inflation it would be double what it is now, and allowing companies to continue paying $7.75 an hour for labor in America is disgusting.
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When the supporter of Mr. Free Stuff for Everybody is going to talk about finite money, I’ve seen it all. That’s gonna be a yikes from me.
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How are you going to nitpick all of this shit and end on a misrepresentation? Sounds like you're not too familiar with the actual cost of the "free stuff" you're trying to refer to? Simply enforcing the tax code poor people live by on giant corporations would pay for most, if not all of it, in a relatively short period of time.
There are 8 people with more money than half of the human population.
