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The difference between the poor You and the rich Me

Dawg

President
Supporting Member
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If you don't benefit from a Trump presidency you'll never be able to have any wealth.
I've been retired since 2012, so my days of longing for wealth have pretty much passed me by. I also believe Trump's wealth is due to an accident of birth followed by a lifetime of tax avoidance or worse.

https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html

"The president has long sold himself as a self-made billionaire, but a Times investigation found that he received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s."
 
That's funny lol
Not as funny as a gangster living in the White House:

https://thesternfacts.com/russian-mobster-built-trump-soho-into-putins-money-laundering-racket-652cf639e8f0

"A blizzard of lawsuits over the failed Trump SoHo condominium-hotel have exposed the President’s deep ties to Russian-based organized crime.

"A former employee says the cash trail goes right to Putin.

"The Trump Organization’s business partnership with Russian mobster Felix Sater — turned FBI informant — unraveled at the start of this decade when the Trump SoHo collapsed into a pile of fraud, contract and foreclosure lawsuits.

"Now Sater is switching sides once again, agreeing to cooperate with plaintiffs in a massive money laundering probe."
 

EatTheRich

President
This pie chart is full of sh1t. Why do I and quite a few americans fit into the yellow and blue or yellow and red at the same time?
You don’t. These are wealth quintiles with each representing 1/5 of the population. If your net worth is $630,000 or more, you are in the yellow. If it is $200,000-$630,000, you are in the blue. If it is $70,000-$200,000, you are in the red. If it’s less than $70,000, you are in the white or grey.
 
This pie chart is full of sh1t. Why do I and quite a few americans fit into the yellow and blue or yellow and red at the same time?
If it's true someone's net worth exceeds $630,000 (yellow), then it is also true their net worth exceeds $200,000 (blue) and $70,000 (red). Personally, this is the aspect of wealth and income inequality that worries me the most:

https://www.zerohedge.com/news/2019-06-05/americas-path-fire-economy

Imho, economic inequality is bad enough when it stems from manufacturing goods and services that contribute positively to GDP; when Finance comes to dominate an economy largely through inflicting ever-tightening coils of debt on productive workers/consumers, the problem becomes much worse.

https://real-economics.blogspot.com/2015/11/michael-hudson-on-american-school-of.html
 
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Because (thanks to ZIRP) they can borrow their way to prosperity?
Americans seem stunningly indifferent to the conflicting ideas and ideology hidden behind the academic discipline of economics. Is the corporatist authoritarianism we deal with today "baked into the cake" in a Constitutional sense or have US and UK oligarchs been waging a war on founding economic principles for our entire history as a nation?

https://real-economics.blogspot.com/2015/11/michael-hudson-on-american-school-of.html

"...ever since the surrender of Cornwallis, the American republic has been under unceasing assault by its oligarchical enemies.

"The question to ask is: how was the American republic subverted and corrupted from within to erode its natural enmity to oligarchs and concentrations of power - economic as well as political?"
 
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