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One-Percenters Now Control As Much Wealth As Middle-, Upper-Middle Classes Combined

The benefits of this don’t accrue linearly, but rather exponentially.

The benefits of this don’t accrue linearly, but rather exponentially.
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4 comments on “One-Percenters Now Control As Much Wealth As Middle-, Upper-Middle Classes Combined

  1. Benjamin Franklin was only half right.
    Nothing is certain but death and greed.

  2. Stephen in Canada

    Many years ago – at least 40 I’d say, I read an interview with a then youngish Donald Trump. When asked what he thought about greed, he responded ” Oh I love greed. I love greed because there is no limit to it”.

    ‘nough said?

  3. vicissitude

    As usual, Treasury is working hard at MAGA, helping corporations avoid tax problems and thus helping the rich get richer (at the expense of dumbass hillbillies who will vote to destroy themselves):

    The Obama Administration’s earning stripping regulations, along with other anti-abuse regulations, slowed foreign acquisitions of US corporations, at least those that were tax motivated.

    As Treasury acknowledged in yesterday’s announcement, if the 2016 earnings stripping regulations are revoked completely, a foreign firm could once again direct a US subsidiary to distribute “notes” to lower its US tax liabilities. However, Treasury now plans to narrow the scope of the old regulations, by replacing the 36-month anti-abuse rule with a more “streamlined” anti-abuse rule (to be proposed). That new anti-abuse rule might be triggered only if the IRS could establish there was actually a plan to return the cash received for the note. Time will tell whether a more streamlined anti-abuse rule will work as effectively as the strict 36-month rule.

    https://www.taxpolicycenter.org/taxvox/treasury-keeps-obama-administration-earnings-stripping-regulations-limits-them

  4. vicissitude

    FYI, here’s a sort of interesting graphic exploration of income inequality@ FRED Blog. I wasn’t totally sold on the presentation, but there’s a lot going on and I didn’t take it all in:

    October 28, 2019
    https://fredblog.stlouisfed.org/2019/10/who-holds-what-wealth/

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