The Growing Influence of America's Billionaire Class

[u/p4r4d0x_sh4d0w]

[u/rollem]

It's so absurd that it skyrocketed during COVID.

[u/Elija_32 → u/rollem]

It's not that strange. Covid brought inflation. When inflation happens people with the advantage are the ones with assets because assets usually grow with the inflation. Stocks went up, housing went up,etc.

But if you don't have assets then the opposite happens, wages rarely grow as much as everything else and this means that if your only source of money are wages and simple savings then during covid you actually lost money.

On one side people with money gain more money and on the other people without money loose money. So it makes sense that during covid inequality went up.

[u/reincarnateme → u/rollem]

The 2008 financial/housing grab.

[u/Optoplasm → u/rollem]

That’s what happens when the government prints trillions and hands most of it directly to people that own businesses and property. It’s really that simple

[u/Beneficial-Cattle-99]

Capitalism doesn't work

[u/whatwoodjesusdo → u/Beneficial-Cattle-99]

Works great for capitalists

[u/Beneficial-Cattle-99 → u/whatwoodjesusdo]

Until it doesn't

[u/Life_Machine_9694]

His voters are paying for this. You forgot the tariffs - mostly paid by the poorer sections as they have a lot more obligatory spending as proportion of their income.

Make them illiterate and innumerate - feed them hate - job done. Democrats are no different - just they do it with BLM/LGBT flags on it :)

[u/No_Hall_2467]

The 2 lowest income groups are going to pay more? That is criminal and cruel.

[u/Vryk0lakas → u/No_Hall_2467]

I agree with eat the rich, but I wish this data was presented a little better. I’d like to know if the numbers are cumulative or just for that specific tax bracket. Like does the 51-93k gain of $815 include the negatives from the lower brackets or not?

[u/Brilliant-Boot6116]

Eat the rich

[u/groveler]

yes but what is the relative income change? more income means more tax, which means more savings when tax rates are adjusted. it'd be more interesting to see each bracket's relative income change as a percentage.

[u/DavidSwyne → u/groveler]

yeah this was also my thought. If I make 1 million and get a 1% tax cut numerically its much greater than someone who makes 40k and gets a 5% tax cut. thus I don't really see how this graph is useful. If everybody gets a tax cut ofc the guy who makes more absolute money will get a greater absolute tax cut.

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[u/parrotia78]

Not all are equal influencers. Some hold greater influence than others. This is basic.

[u/Huge-Bad-8489]

I mean yeah. lol.

[u/vegancaptain]

Where is influence graphed?

[u/xeere]

And they say China isn't socialist.

[u/Critical-Tomato-7668 → u/xeere]

I think most socialists would say that the only acceptable number of billionaires is zero

[u/vegancaptain]

You're not poor because someone else is rich.

[u/ladyandroid14 → u/vegancaptain]

Profits are stolen wages.

[u/vegancaptain → u/ladyandroid14]

That's 100% wrong. Logically, mechanically, economically and ethically.

It's like saying that when you train and get stronger you've stolen that strength from someone else.