The Top 1% in the USA

[B-DizL]

Everyone always talks about how the top 1% of Americans make all the money and have all the power and it seems we act as though we will never know who these people are, always referring to them as some shady group steeped in mystery, why is that? They didnt become the top 1% by people not knowing who they are.

So i present to you the forbes top 400 richest people in the USA. http://www.forbes.com/wealth/forbes-400#p_1_s_arank_-1_

As you can see page one is filled with names we've all heard before, Bill Gates, Warren Buffet etc but what about the rest, like John Menard who is worth $5.2 billion and the source for his wealth listed simply as retail, or Robert Rowling worth $4.1 billion source investments.

The lowest person on the list is worth $1 billion, that means there are countless others who are worth hundreds of millions of dollars, now look at this diagram...



The top 1% have been draining the US and the world for that matter of money for many years and how much of that do you think actually goes to "creating jobs"?

How many people are barely making it by while these guys sit back and make more than we can ever imagine?

I think it may be time that we try to talk to some of these people and figure out a way to make their money not only work for them but work for everyone. Im not suggesting out right taking the money from them but using it to invest in the country to get the money moving again and eventually the investment will pay them dividends in some form. I mean just think of all the money sitting in accounts, billions upon billions of it, theres no possible way they can ever even hope to use it all so why not try to help your fellow country men get back on their feet.

What is going to end up happening if we continue down this path is the top 1% will be sitting in their guilded castles while the country collapses around them clinging to there riches.

[Roloc]

The job description sound a little it shady.

[B-DizL]

Its not sitting there. Many people have this perception of money in the bank confused. When It you put money in the bank the bank uses that money to invest elswhere. Its never just sitting still. Most of that money that the common man uses to start up his business is from the top 1%.

Money inside banks are always being used. When you put your money in the bank and then 5 months later withdraw it, its not the same money. Its someone else's that they have allocated to you. Your money was invested elsewhere long before.

I understand that a lot of it is being used else where but there is a significant amount sitting in large palettes or gold bars in some offshore account some where.

Now i see why bushbush has soo much rep, hes one of the few reasonable people on here.

[bushbush]

it's good to be in the top 5%

[xcorps]

The lowest person on the list is worth $1 billion, that means there are countless others who are worth hundreds of millions of dollars, now look at this diagram...

Countless?

Nah.

The number of U.S. households with a net worth of $1 million or more, not including first homes, fell by 2.5 million to 6.7 million in 2008, according to the Spectrum Group report, as reported by Reuters.

Counted.

The top 1% have been draining the US and the world

LOL. Draining the world of what?

The number of U.S. households with a net worth over $5 million, again not including first homes, fell by 28 percent to 840,000.

In the U.S., the total number of families with a net worth of over $1 million, including real estate, will double by 2020, according to a report by the Deloitte Center for Financial Services.

What is going to end up happening if we continue down this path is the top 1% will be sitting in their guilded castles while the country collapses around them clinging to there riches

.

Nothing. Go get a real job, take care of your family, watch American Idol and surf for porn.

[bushbush]

Nothing. Go get a real job, take care of your family, watch American Idol and surf for porn.

I actually think the growing disparity might present a couple long-term problems:

1. poorer people tend to have worse education (even in public system) and they will become less capable of becoming productive workers (which require great education) in today's economy (especially in the US with all the low-end jobs shipped to overseas). The result is that American workers are less productive even though American businesses face shortage at home on highly trained workers (they have to bring people from overseas or hire internatoinal students on a lot of jobs).

2. adding from no.1 as well, there will be greater social instability. More people might feel being left out. Crime might become a venue for more people. Society will be less safe.

One thing I feel a lot of American (especially richer ones) don't appreciate is that the poorer your fellow americans are, the more likely they will rob and kill you. I like Canada over US (and China, my home country) largely because in Canada, if you are rich, you pay more taxes, but you don't have to wall yourself in a gated community, have a bunch of security cameras, and be scared living near big cities. In both China and US, yes you can be incredibly rich, but the large number of poor people being left out are not going to let you live peacefully either. I'd rather pay a bit more taxes so I can "tear down the wall" and live among other members of community safely.

[Soviet]

The country won't collapse because there are wealthy people. The ? They worked hard to get where they are now, the American way. Get over it.

[bushbush]

The country won't collapse because there are wealthy people. The ? They worked hard to get where they are now, the American way. Get over it.

not really. There is great correlation between parents' wealth and children's general financial success. The cycle is likely this: parents being successful and well connected, children will be more heavily invested in terms of education, living in good areas and go to good schools, the children then go to good universities, find nice jobs (often with connections from parents) and have a greater chance to succeed. It is not always true; kids from poor family and rough areas do succeed. But they face greater obstacles. Children from richer families have an easier time to succeed (the so called silver spoon). It is not simple as "go work harder like rich people". If you are born rich, you are way more opportunities.

[2-D Ron]

not really. There is great correlation between parents' wealth and children's general financial success. The cycle is likely this: parents being successful and well connected, children will be more heavily invested in terms of education, living in good areas and go to good schools, the children then go to good universities, find nice jobs (often with connections from parents) and have a greater chance to succeed. It is not always true; kids from poor family and rough areas do succeed. But they face greater obstacles. Children from richer families have an easier time to succeed (the so called silver spoon). It is not simple as "go work harder like rich people". If you are born rich, you are way more opportunities.

Also allot of the Rich kiddies born into wealth generally grow up WITHOUT their Father/Mothers innovative drive to know the market.
But that said, if you're born in an impoverished part of Society, how does one know how to work themselves out of Poverty? Where can they go to learn how to be a Big Entrepener?
I don't want to think that Civilization is built purly on the Social Darwanist theory that the Rich have some kind of superiority over the Poor?
Half these super Billionaires were probably bullied for their Pocket Money at School? If it's Law of the Jungle, what makes them more superior?

[Ahlerich]

The country won't collapse because there are wealthy people. The ? They worked hard to get where they are now, the American way. Get over it.

you didnt get the two pictures with the flowers?
let me help.. big flower good, small flower not good, boot - bad

then compare the two pictures and find the differences.

[Enemy of the State]

If you want to help the poor, do this:

1. Return to sound money. Inflation hurts the poor the worst.
2. Get rid of minimum wage laws, thus making entry into the job market easier.
3. Get rid of barriers of entry such as licensing, taxes, regulations etc. that make it harder to start a business

[Lord Zhang Ku]

If you want to help the poor, do this:

1. Return to sound money. Inflation hurts the poor the worst.
2. Get rid of minimum wage laws, thus making entry into the job market easier.
3. Get rid of barriers of entry such as licensing, taxes, regulations etc. that make it harder to start a business

How does it help the poor to have to have several jobs to rent an apartment because their bosses won't pay them enough?

[Enemy of the State]

How does it help the poor to have to have several jobs to rent an apartment because their bosses won't pay them enough?

How does it help the poor to have no job?

[justicar5]

If you want to help the poor, do this:

1. Return to sound money. Inflation hurts the poor the worst.
2. Get rid of minimum wage laws, thus making entry into the job market easier.
3. Get rid of barriers of entry such as licensing, taxes, regulations etc. that make it harder to start a business

1. No comment,
2. At levels of income that end up with people dying of malnutrition while working (happened in Victorian London, the situation only improved when people reporting for military duty where found to be to ill to fight)
3. Some regulations are idiotic, but none leads to sub-standard and even dangerous practices and products, there needs to be a basic assurance that the food/medicine/car/whatever isn't going to kill you. (And no market forces don't insure this, a good PR campaign can hide many, many sins)

[Yosemite]

the American way

are you still asleep and have this "american" dream?

[Mr. Scott]

Everyone always talks about how the top 1% of Americans make all the money and have all the power and it seems we act as though we will never know who these people are, always referring to them as some shady group steeped in mystery, why is that? They didnt become the top 1% by people not knowing who they are.

So i present to you the forbes top 400 richest people in the USA. http://www.forbes.com/wealth/forbes-400#p_1_s_arank_-1_

As you can see page one is filled with names we've all heard before, Bill Gates, Warren Buffet etc but what about the rest, like John Menard who is worth $5.2 billion and the source for his wealth listed simply as retail, or Robert Rowling worth $4.1 billion source investments.

The lowest person on the list is worth $1 billion, that means there are countless others who are worth hundreds of millions of dollars, now look at this diagram...



The top 1% have been draining the US and the world for that matter of money for many years and how much of that do you think actually goes to "creating jobs"?

How many people are barely making it by while these guys sit back and make more than we can ever imagine?

I think it may be time that we try to talk to some of these people and figure out a way to make their money not only work for them but work for everyone. Im not suggesting out right taking the money from them but using it to invest in the country to get the money moving again and eventually the investment will pay them dividends in some form. I mean just think of all the money sitting in accounts, billions upon billions of it, theres no possible way they can ever even hope to use it all so why not try to help your fellow country men get back on their feet.

What is going to end up happening if we continue down this path is the top 1% will be sitting in their guilded castles while the country collapses around them clinging to there riches.

Its not sitting there. Many people have this perception of money in the bank confused. When It you put money in the bank the bank uses that money to invest elswhere. Its never just sitting still. Most of that money that the common man uses to start up his business is from the top 1%.

Money inside banks are always being used. When you put your money in the bank and then 5 months later withdraw it, its not the same money. Its someone else's that they have allocated to you. Your money was invested elsewhere long before.

[Banana Jelly]

Ever heard the term "The rich get richer, the poor get poorer"

That's because nowadays the poor ones are the one with no education. They don't want one either.

However, those who do get an education (the newest generation, since the older generation probably were newly come immigrants with no educational history inside America) probably will become in the Middle Class rank after getting a good job.

Jobs aren't biased as to what class you are. It's the work you are doing with the education you have. Sure you are getting it much easier by having rich parents, but having a 2.5 GPA and going to a Community College is bad, and having rich parents wont save you from that.

[bushbush]

Jobs aren't biased as to what class you are. It's the work you are doing with the education you have. Sure you are getting it much easier by having rich parents, but having a 2.5 GPA and going to a Community College is bad, and having rich parents wont save you from that.

how likely do u think a kid with rich parents, going to nice private schools, have tutors, have parents or uncles who went to ivy leagues, will end up with 2.5 gpa in a community college?

versus how likely that happens to a child from poor family living in a poor neighbourhood?

Parents' wealth and education are critical factors to how successful a child can become him or herself. Success comes a lot easier if your parents are successful. Life is unfair as that. I can brag over everyone how successful I am right now but I know I owe 99.5% to my parents who paid attention to my education, put me into nice schools, hired tutors for me, and support me financially and emotionally along the way. I can't imagine how screwed up I could be if I am from a single-parent family, living in a project with a lot of crime and have to steal for candy money in elementary school. It is a huge difference.

[Justice and Mercy]

Parents' wealth and education are critical factors to how successful a child can become him or herself.

No, they are CONCURRING factors.

The critical factor is the kid's mindset.

[B-DizL]

No, they are CONCURRING factors.

The critical factor is the kid's mindset.

Right and their enviroment has no effect on their mindset, are you kidding