[OC] Wachsender Reichtum der Reichen in Amerika

Would be curious for more data points on this, such as the top 30% and 50%, interesting graph

Even the ~~wages~~ wealth of the top 10% appear practically stagnant by comparison to the top 0.1%.

What would they do about this kind of situation in Nepal? Or in France?

And this ends in 2022 which doesn’t cover a lot of the run up in stock prices post-covid.

Thats actually impressive, that means there are about 30M Americans (assuming and equal distribution of households and population) living in home with >2M net worth.

Even if thats “just the house value” doesn’t change the fact that they can still sell the house in this market and go live as kings in most other places on the planet.

Class-warfare and the masses don’t even know they’re in it

if you want to talk about the growth of anything that is expected to grow exponentially, the y axis should be on a log scale so that a linear regression is an estimate of the growth rate

If anyone’s curious, part of the fall of Rome is attributed to an oligarch class, amassing too much power. They did crazy shit like replacing the labor class with slaves which bifurcated the citizenry and created a massive wealth gap. The labor class fell into destitution. There were a bunch of other causes as well, but this was for sure one of them.

The hoeading class keeps hoarding all the wealth and ~~bribing~~ lobbying politicians to continue to pass tax laws that allow them to keep hoarding.

Over 2 million net worth just to crack the top 10%!?!?

What am I doing wrong with my life

My last comment got censored by reddit so let’s try this again:

What these charts as well as the works of world leading experts on the subject matter like piketty, zucman, stieglitz, and chancel clearly show is that it is a handful of individuals who are driving the vast majority of wealth inequality. As a hypothetical question, when would it make sense to forcibly redistribute this wealth?

For instance if one person has 80% of the wealth of a country, it obviously has a socially beneficial outcome to force this person’s wealth to be redistributed. We aren’t quite there yet but I am interested in hearing opinions on where the line should be drawn.

You know it’s funny looking at this chart, especially if you’ve happened to read Atlas Shrugged.

The top of the US income stack is largely the much of the professional class or the real, what Rand describes as *producers,* that make the machinery of the US go.

I know chaps like Musk love to say that he’s responsible for OpenAI, Tesla, SpaceX, and others. But he’s clearly not the one who actually coded up the first LLMs, designed/rolled out the charging infrastructure, or designed the rocket motors – he was just the money guy.

So when you look at a chart like this, the only real takeaway is that the spoils of innovation are being seized by the politically protected extractive class, and those folks are basically strip mining shit out of everyone doing the work to make them wealthy (or to quote 30 Rock, extracting all of the juice from your Mind Grapes, like Jack Welch).

Given the fact that the US is becoming downright hostile to the „builders“ – producers, innovators, scientists, and engineers,

Maybe the question is not “Who is John Galt?”

The question is, why would any young person with a brain and options build here?

Looks like rich elite class took inflation very seriously.

The ratios of top 10 to top 1 and top 10 to top 0.1:

https://preview.redd.it/soja9x4abcyg1.png?width=256&format=png&auto=webp&s=f8eab4ce161c62a7b238e6ee507e7a46565f1577

||10 to 1|10 to 0.1|
|:-|:-|:-|
|2001|4.9|16.3|
|2004|5.3|17.4|
|2007|5.8|21.1|
|2010|5.4|17.6|
|2013|5.5|19.0|
|2016|5.6|21.9|
|2019|5.9|21.6|
|2022|5.2|21.6|

I wonder what this would have looked ike in a log plot that captures the relative increase. If everybody would be 3x as rich over those 20+ years, I wouldn’t mind it as much

That’s because they worked 200% harder.