Bill Gates, Jeff Bezos and Warren Buffett are wealthier than poorest half of US

[silvereyes]

It used to be 10 people were richer than half of the population. Now they dont even include the Waltons.

The do not need a tax cut, nor should they get one

The three richest people in the US – Bill Gates, Jeff Bezos and Warren Buffett – own as much wealth as the bottom half of the US population, or 160 million people.

Analysis of the wealth of America’s richest people found that Gates, Bezos and Buffett were sitting on a combined $248.5bn (£190bn) fortune. The Institute for Policy Studies said the growing gap between rich and poor had created a “moral crisis”.
In a report, the Billionaire Bonanza, the thinktank said Donald Trump’s tax change proposals would “exacerbate existing wealth disparities” as 80% of tax benefits would end up going to the wealthiest 1% of households.
“Wealth inequality is on the rise,” said Chuck Collins, an economist and co-author of the report. “Now is the time for actions that reduce inequality, not tax cuts for the very wealthy.”
The study found that the billionaires included in Forbes magazine’s list of the 400 richest people in the US were worth a combined $2.68tn – more than the gross domestic product (GDP) of the UK.
“Our wealthiest 400 now have more wealth combined than the bottom 64% of the US population, an estimated 80m households or 204 million people,” the report says. “That’s more people than the population of Canada and Mexico combined.”
The report says the “billionaire class” continues to “pull apart from the rest of us” at the fastest rate ever recorded. “We have not witnessed such extreme levels of concentrated wealth and power since the first gilded age a century ago.”
Forbes celebrated 2017 as “another record year for the wealthiest people in America”, as “the price of admission to the country’s most exclusive club jumped nearly 18% to $2bn”. That was a tenfold increase on the amount of money needed to enter the list when it first started in 1982.

https://www.theguardian.com/business...est-half-of-us

The Waltons? What does John Boy have to do with this?????

Sorry, couldn't resist!!!

[Common]

The Waltons? What does John Boy have to do with this?????

Sorry, couldn't resist!!!

Im not sure who john boy is but in years past it was the waltons that were included with the few that had more than half of all americans. Now its just 3 of them

[Agent Zero]

Huey Long said that anything over $5 million should be taxed at 100%. I don't agree.

I don’t either. 95% is good enough.

[Common]

There are no limits or boundaries to class envy.

Has nothing to do with class envy with me, its just ridiculous to give them a tax cut, when they amassed that with the present tax rate.

The working class needs a tax cut if anyone

[Agent Zero]

I don’t either. 95% is good enough.

Just think...poverty, hunger, disease...wiped out.

ifi were rich, that would be far more satisfying than a solid gold toilet or a hotel bearing my name.

[Don]

Those corporations, humongous or small do not pay taxes. We pay when we buy their products or use their services. A flat tax on their personal income means they would pay the same rate as everyone else.

[Tahuyaman]

Has nothing to do with class envy with me, its just ridiculous to give them a tax cut, when they amassed that with the present tax rate.

The working class needs a tax cut if anyone

The government confiscates too much money from the people earn it.

Whether you see it or not, it is class envy. We are at a point now where nearly half the working population pays no federal income tax and those people are screaming the loudest about allowing the wealthiest to keep more of their earnings to do with as they wish. Them keeping more of their wealth doesn't impact your earning potential one iota.

[Don]

The government confiscates too much money from the people earn it.

Whether you see it or not, it is class envy. We are at a point now where nearly half the working population pays no federal income tax and those people are screaming the loudest about allowing the wealthiest to keep more of their earnings to do with as they wish. Them keeping more of their wealth doesn't impact your earning potential one iota.

Sounds a lot like "from each according to his abilities. To each according to his needs."

[Chris]

Just think...poverty, hunger, disease...wiped out.

ifi were rich, that would be far more satisfying than a solid gold toilet or a hotel bearing my name.

[Tahuyaman]

Let’s compare their philanthropy to that of...say, Trump, shall we?

I will, however, agree that the filthy rich shouldn’t get a tax break. They should pay more.

Communicating with yourself?

I dont believe you or anyone has the right or authority to tell others what they need or don't need. When people take risks and create businesses which employ millions of people all over the world, they reap substantial financial benefits. They should not be considered a cash cow for liberal governments to exploit. I'm not envious or jealous of those people.