It is. Everytime you hear someone say ‘this is good for the economy’ or ‘our economic growth has slowed down’ or ‘the GDP has grown by suchandsuch percent this year’ they are assuming trickle down economics work. That is because you might have a mental image of the economy being made up of small buiseness owners in your head while in reality ownership of things that benefit from a growing economy is largely in the hands of a small amount of people. In the US for example the top 10% of people own 70% of all of the countries wealth while the bottom 50% own about 1%.
Wealthy peoples’ wealth also is made up of investments in company’s to a larger extant than poorer people who have a larger percentage of their wealth made up of cash, houses, cars and other such ‘real’ things which don’t benefit from a good economy. This wealth disparity exists in most countries to varying degrees. Globally speaking it’s even more egregious.
Your source link doesn’t work and I’m extremely skeptical of whatever data is being used in that graph. A simple Google search will show numerous studies have shown an extreme increase in wealth inequality in the US has gotten much worse over time. Every other graph I can find reflects this reality.
So unless you can provide an actual source that can be scrutinized, I’d recommend everyone reading this to take it with a massive grain of salt.
Fixed the link. I am not an expert on wealth inequality so I have to trust some who are. I trust this website because it was trusted by the ‘good council for redistribution’ in Austria. A council that redistributed the inheritance of an austrian millionaires heiress under the advice of experts. Calculating wealth distribution is hard though so I am not surprised you found different graphs. That is why even a 0% wealth tax would be good just so we could get a clear picture of where we stand.
It is. Everytime you hear someone say ‘this is good for the economy’ or ‘our economic growth has slowed down’ or ‘the GDP has grown by suchandsuch percent this year’ they are assuming trickle down economics work. That is because you might have a mental image of the economy being made up of small buiseness owners in your head while in reality ownership of things that benefit from a growing economy is largely in the hands of a small amount of people. In the US for example the top 10% of people own 70% of all of the countries wealth while the bottom 50% own about 1%.
Wealthy peoples’ wealth also is made up of investments in company’s to a larger extant than poorer people who have a larger percentage of their wealth made up of cash, houses, cars and other such ‘real’ things which don’t benefit from a good economy. This wealth disparity exists in most countries to varying degrees. Globally speaking it’s even more egregious.
Your source link doesn’t work and I’m extremely skeptical of whatever data is being used in that graph. A simple Google search will show numerous studies have shown an extreme increase in wealth inequality in the US has gotten much worse over time. Every other graph I can find reflects this reality.
So unless you can provide an actual source that can be scrutinized, I’d recommend everyone reading this to take it with a massive grain of salt.
Fixed the link. I am not an expert on wealth inequality so I have to trust some who are. I trust this website because it was trusted by the ‘good council for redistribution’ in Austria. A council that redistributed the inheritance of an austrian millionaires heiress under the advice of experts. Calculating wealth distribution is hard though so I am not surprised you found different graphs. That is why even a 0% wealth tax would be good just so we could get a clear picture of where we stand.