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Old 06-15-2020, 10:25 AM
 
758 posts, read 363,965 times
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https://www.forbes.com/sites/michael.../#2d6919222cf2

Forbes

The top One Percent in America earns at least $480,930 per year, according to recently released IRS data that compiled earnings/taxes paid from 2015. While that One Percent of Americans makes about 20% of all dollars earned in America, they pay 39% of all taxes paid to the American government.

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https://www.bloomberg.com/news/artic...s-middle-class

Richest 1% of Americans Close to Surpassing Wealth of Middle Class

Bloomberg

The U.S.’s historic economic expansion has so enriched one-percenters they now hold almost as much wealth as the middle- and upper-middle classes combined.


The top 1% of American households have enjoyed huge returns in the stock market in the past decade, to the point that they now control more than half of the equity in U.S. public and private companies, according to data from the Federal Reserve. Those fat portfolios have America’s elite gobbling up an ever-bigger piece of the pie.
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So how does the top 1% hold almost as much wealth as the middle- and upper-middle classes combined yet only make about 20% of all dollars earned in America ?


.
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Old 06-15-2020, 10:43 AM
 
Location: The Triad (NC)
30,209 posts, read 66,715,215 times
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Quote:
Originally Posted by jonbenson View Post
Clear this up for me about the top 1% of income earners in America
FIRST... is to distinguish high earning from high net worth.
They tend to overlap a fair bit but they are very different groups of people.
Quote:
The top One Percent in America earns at least $480,930 per year...
a) From various sources such as Investment Returns and Work Employment.
b) Which sub group are you referring to?
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Old 06-15-2020, 10:51 AM
 
1,963 posts, read 503,478 times
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Quote:
Originally Posted by MrRational View Post
FIRST... is to distinguish high earning from high net worth.
This. So much pointless debate is over vaguely defined income classes and semantic misunderstanding.
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Old 06-15-2020, 12:32 PM
 
1,956 posts, read 1,070,006 times
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What do they mean by "dollars earned"? Wages? Annuities? Are they referring to the people in the 1% who are in the labor force?
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Old 06-15-2020, 12:36 PM
 
1,963 posts, read 503,478 times
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Quote:
Originally Posted by Eeko156 View Post
What do they mean by "dollars earned"? Wages? Annuities? Are they referring to the people in the 1% who are in the labor force?
Income is earned by some form of labor, even the most passive management position.

Money from investments etc. is generally considered "unearned" — not as in that it's undeserved, but in that no specific effort was made to acquire it.
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Old 06-15-2020, 12:44 PM
 
758 posts, read 363,965 times
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Ok maybe I would have titled it

Clear this up for me about the top 1% of wealth in America



anyway , this is the question


How does the top 1% of American households hold almost as much wealth as the middle- and upper-middle classes combined yet only make about 20% of all dollars earned in America ?

(see each article n the links on the OP) , thanks
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Old 06-15-2020, 12:50 PM
 
Location: The Triad (NC)
30,209 posts, read 66,715,215 times
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Quote:
Originally Posted by jonbenson View Post
How does the top 1% of American households hold almost as much wealth as ...
For nearly all... they chose their grandparents very well.
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Old 06-15-2020, 01:03 PM
 
7,648 posts, read 3,605,936 times
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OP, do you understand the difference between wealth and income? There are a large number of people with small income and high assets, and there are also a large number of people with high income and low assets.
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Old 06-15-2020, 01:17 PM
 
Location: Dude...., I'm right here
1,355 posts, read 864,304 times
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Bingo! He is assuming income is proportional to wealth.

One can own 10 multimillion dollar homes but if they are not being rented the wealth is not producing any income.



Quote:
Originally Posted by turf3 View Post
OP, do you understand the difference between wealth and income? There are a large number of people with small income and high assets, and there are also a large number of people with high income and low assets.
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Old 06-15-2020, 01:20 PM
 
1,963 posts, read 503,478 times
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Quote:
Originally Posted by 1ondoner View Post
Bingo! He is assuming income is proportional to wealth.

One can own 10 multimillion dollar homes but if they are not being rented the wealth is not producing any income.
Well, because the equity is rising faster than any market investment.

But yes, the takeaway here, fairly well established for at least fifteen minutes, is that income and wealth are not the same thing.
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