Breaking: 3 Richest Americans Now Own More Wealth Than Bottom 50%

Start your own business, work 16 hours a day and you can get there too.

 

You mean a stagnant economy don't you. Mean GDP Growth never got over 2% for all 8 of Obama's years in office.

 

Yes they try to make the laughable claim that when the Democrats took the Congress January of 2007 that for the next two years they simply did Bush's bidding. Rubber stamped his budgets. And then Obama sudden appeared in Washington January of 2009. And when try to uses data to prove a point 2008-2009 disappear. Then when comparing results take the BEST year for Democrats and compare toe the Worst year for Republicans.

 

And then there are those little organic molecules which tend to grow and replicate and become MORE complex. My major was biology although gave it up half way through. Layman have misinterpreted the TLTD all my life.

 

Two years after the Republicans took majority control of the government.

Two years after he and his fellow Democrats took majority control of the government.

Hold on here you try to credit Obama with cutting his and his fellow Democrats $1,400B deficit in half but blame the austrity which did it on Reoublicans. You can't have it both ways which is it?

 

That effect of increasing complexity of life's molecules is known very well. Read up on non-equilibrium thermodynamics of dissipative systems, if you are interested. Ilya Prigogine received a Nobel prize for his work on this.

Applied to economics: A country's economy is a dissipative system that grows in complexity to be more efficient in catalyzing the rate of entropy production. That's not in violation of the 2nd law of thermodynamics.

 

Before you talk down on someone else regarding the level of education, maybe you should take a look in the mirror:

Writing a song DOES take tangible resources, i.e. energy. Last I knew, your brain consumes 20 watts of power. Your hand to write the song needs energy (ATP hydrolysis for muscle contraction). If you even want to make money from the song, you have to distribute and advertise it, all costs energy. Servers for uploading and downloading music and for the financial transactions don't run themselves.

So, the whole idea that an economy can run without energy input is utter BS.

 

What's you evidence against it? I have made my point with data, can you?

Of course, it is a very inconvenient fact that we'll use the total energy of the sun shining on earth in only 400 years on our current trajectory (the sh** will hit the fan long before that), so that's why most people, including yourself, just like to stick their fingers in their ears and sing lalalala....

 

He had to play or be thrown in prison and made penniless.

What is the best party? I can't take either of these any more. They all play along with someone. Why do libs get what they cry about? Because there is plenty of money and the amount they want for things we find immoral or disgusting is pennies in the bigger scheme. So, they placate them to allow themselves to become more wealthy. Greed and hate is fomented so that all the sheeple can be drawn away from the real issues.

What can be done if folks are too tied up in their own sick greed to realize what is going on and how they are harming us all? This is the great change we need. This and a total change of how our government is run and money spent. It's a total mess. How do we effect change in the right direction? Folks are just too self-involved.

 

My personal situation is irrelevant.

 

I think she meant Trump inherited a "steadily mediocre" economy from King Obama.

It was the longest, slowest, most lagging and economically constipated period of feeble growth in this nation's history.

 

As relevant as anyone else's try answering the question.

 

Disagree. Starting a business isn't the issue. It's anti competition rich folks who want to stop you from being successful and it has worked for them for quite a while.

The rich have a special club and every new member cuts their profits. Hence they don't want new members and will do everything they can to stop you.

 

Including making you instantly wealthy by buying you out.

 

Who is suppressing anyone's opportunities for greater income and wealth? And how are they doing so?

 

Reading this story 10 years after Naomi Klein published her fine book Disaster Capitalism, I am not surprised in the least. We have a fascist state, not a democratic state.

 

Who can stop you from being successful, and how do they do this?

 

And yet we had a successful revolt in our Party, while Bernie got screwed and Crooked Hillary stole the nomination, but then thanks to our revolt, she lost!

I'm good with that. After a dozen years of Rich Folks swearing they would just LOVE to pay higher taxes, I say take them at their word.

Swamp Monster McConnell muddles tax reform:

Senate Plan Could Increase Taxes on Some Middle-Class Workers .

Swamp McConnell acknowledged on Friday that the Republican tax plan might result in a tax hike for some working Americans, saying he “misspoke” days earlier when he said that “nobody in the middle class is going to get a tax increase” under the Senate bill.

“I misspoke on that,” Swamp McConnell said.

The Senate bill unveiled on Thursday would raise taxes on millions of middle-class families. Still, middle-class earners would fare better under the Senate proposal than its counterpart in the House, the analysis found.

Republican lawmakers have been in a dash to devise — and pass — a tax overhaul that would mark their most significant achievement since taking control of Congress. President Trump and Republican leaders have outlined two main objectives for the rewrite: cutting taxes for American businesses and for the middle class. The legislation reduces tax rates on individuals and businesses, while eliminating some tax breaks to make up for lost revenues.

Both the House and Senate bills would cut the corporate tax rate to 20 percent from 35 percent and provide business tax benefits, such as the ability to immediately expense purchases of equipment.

The Times analysis, using the open-source software TaxBrain, found that roughly one-quarter of families in the middle class would see their taxes increase in 2018, by about $1,000 on average. By 2026, the share seeing an increase would rise slightly, to about one-third, and the average increase would rise to about $1,600. For the majority of middle-class families that receive a tax cut, the average savings would be about $1,300 in 2018 and $1,700 in 2026.

These bastards, calling it a massive tax-cut when its roughly a revenue neutral bill. They start with the assumption that THEY cannot do with a dime less. The problem with a government shut down and putting the government on a cash diet under Obama, was that he threatened to default and he threatened social security checks. Well, Obama isn't there anymore.

Cut the corporate rate, cut the bracket rates for the working and middle class. Limit deficit spending as a percentage to the nominal GDP growth rate, and if the Government want more money, tell them to sell some assets.

The IER estimates that total fossil fuel resources owned by the Federal government are valued at over $150 trillion alone. If they need more money, they can sell a little of that.

The Federal Government owns about 28% of all land in the USA and that land alone is close to $7T in value.

 

[incoming long post, but I LOVE science and I LOVE finance. Have studied both subjects in undergrad and masters and feel I have a good grasp of both. Hopefully this may teach a few people out there, or get them excited enough to go out and learn on their own.]

To start, my favorite saying is ......

ENERGY = ENERGY = ENERGY = ENERGY.

This does NOT fit into finance, finance is man made, the rest is "god" made. No I am not a religious person, if anything I guess a "Deist", just that I use that to describe the Universal equations we call physics.

Even though your short and subtle post may go over a lot of people's heads, it does have a lot of meaning and I feel you have made a beautiful point.

Biology is an incredibly different science than both physics and finance, BUT, it is "god made" and does fit into the governing principles of actual science. But finance is a MANMADE CONSTRUCT and does not follow the rules of physics, but the rules we have created for it.

But those molecules you talked about replicating are still taking energy from other areas (like the sun) or certain chemical reactions (another form of energy) in order to multiply. I think it is absurd to try and compare or conflate any type of science to man made "science" like finance. They all have their own rules and formulas that govern the principles that create each science, finance is something that is fluid, it is always changing and it is more based on human psychology than anything else.

Why is gold worth more than silver? (Silver is actually a far more useful material) Does it contain more energy inside of it that we cherish and put a higher price on? No, it is about supply and demand and we have DECIDED to put levels of importance on different materials. Like the paper fiat currencies of today and the soon to be Bitcoin currencies of tomorrow.

I actually am one of the people who believes there IS a way to bring many of the different sciences together and when we do ..... oh when we do, we will open the doorway to sciences we have never dreamed of before. Ok, well yeah, dreamed of but .....

Einstein postulated that "energy is energy is energy", to sum it up EXTREMELY quickly. A lot of people have trouble understanding that, but it is the basic principle behind everything we do today.

- Steam is captured in a ship and used to "push" the ship forward
- Explosions are captured within cylinders and used to drive the motion of a motor.

Both of these are chemical reactions that are transfered to use as physical/kinetic energy.

Anyways, Einstein postulated that there was a (UFT) Unified Field Theory that could bring together all forms of energy, allowing them to be converted from one form to the other.

You know that light and matter are comprised of the same thing when we get down to it,? Most people do not. If we can find the UFT, we can find the connection and I think eventually will be able to slow down light, gravitational waves, radiation, heck any type of energy out there and convert it from one state to the other.

With the understanding of UFT, I think we could eventually (theoretically) slow down light particles and hopefully build them together in a 3-D "like" printer, just with all the molecules you could think of, not only carbon like our 3D printers have today. We could create magnetic fields and use them as we saw fit.

Imagine, with this theory .... proof, we are able to slow down energy to the point of creating matter.

This along with fusion energy and boom, we live in Star Trek land and we have just fixed our problems of resources.

I do personally think this is possible, I have friends and I who have discussed this at length. Sounds science fiction, but when you really think about it, it is science fact. Well, I think one day it will be....

 

I am sorry, but I do not think that you had any type of successful revolt in your party. The "Republicans" still absolutely hate Trump and are waiting for his flash in the pan to be snuffed out.

I had some hopes for Trump coming in as pretty much a moderate, but he has done the same thing Obama did

Divide the country

No bueno

 

They don't, it is sad how few people understand economics like the guy you are posting to.

A great example to look at that I think fits this study is the Wright Brothers vs Langly.

Langly was given the money, people and every resources you could possibly imagine to be the first to invent flight. He had the people and government of the US "voting" for him to win the race.

Yet, it was a simple group of two brothers and their fanatical team that BELIEVED in them enough to push forward on their dream.

THEY were the first to created powered flight and immediately after Langly quit. This is because he was in it for the money, not the dream.

Those who claim "The evil rich people stopped me from my dreams!" are usually simply weak people looking for an excuse for their failures

 

You say you love science and you say everything in energy, energy, energy...

With the last statement I would agree, but what you say after that doesn't seem like you really understand science bu rather live in the fantasy world of technological progress that people like Kurzweil promote.

Look, everyone would like to make nuclear fusion possible. Will it solve all of mankind's problems? Yes, for a brief period of time. After that, we'll be again in the same boat of energy supply limitation, yet at a much higher per capita energy use level. Plus, when we develop fusion, we have to start being concerned with the actual heat generated in the process. You harness the energy source of the sun, you get the temperature of the sun.

What do you think people 500 years ago would think when we would have told them that in 500 years each of them could use the equivalent of the energy output of 100 people working hard every day? They would have thought that is a dream world with all problems solved. But here we are, 500 years later, with all of us using 100 little energy slaves all the time and we are totally oblivious to it, because the high per capita energy use has become normal to us. We want more and need more.

When we have developed fusion (if...) we'll be in the exact same boat 100 years later, but now everyone uses 1000 little energy slaves and energy has become a scarce resource again.

 

lol, it seems like I really don't understand science because I am talking to you about theoretical models of a possible future? Ummm, ok....

You think Einstein is wrong and there is no Unified Field Theory out there? Fine, but I do. The universe has done it, so IMO, so can we .... eventually.

Anyways, of course it is in the fantasy world! I apologize if I didn't make that clear, I thought I did when I stated at the end with "....we Live in a star trek world" and when I stated that it is science fiction that I think one day will be science fact.

I am not going to try to say I have the answer to fusion or "cold fusion" (which is pretty much impossible IMO). But most people in the field feel we may be able to create "micro fusions" that will have incredible energy output. Those are more the things I believe are "realistic" and may lead us to some of the Star Trek type stuff I am talking about.

At one point, someone thought that storing energy in any type of capacitor or battery was impossible, yet today battery technology is one of the most important and accelerating techs we have, ask Mr. Musk!

Who knows what the problems of people in 500 years will be. Perhaps we have found ways to create energy for EVERYONE to live and have what they want, BUT we need to find even more energy for something like interstellar travel?

Could the same sentence than be said about energy? It is always relative based on what our current situations are.

I personally feel all the things I talked about WILL become science fact one day, as I said in my original post. As of right now, they are merely science fiction.

What you are describing is man's constant urge to move "forward" and I see that as a good thing. It sounds like you don't, or am I reading you wrong?

But your constant need to talk down to people and attack people for things you obviously don't understand is becoming more and more clear, it has frustrated many people in this thread alone.

 

Who are the three richest Anericans?

 

That's funny, I am talking down on people? The only thing I see is that I am always told that I don't have a clue about economics, including in this thread and by you. I respond in pointing out that an economy cannot work in a context that is not connected to the world of physical laws. I also point out that, for example, the 2nd law of thermodynamics cannot be circumvented, posing very real restrictions on what is actually physically possible.

It is hard, though, to discuss these issues with people who have never taken a thermodynamics class and can't see the connections, that is very clear to me.