The Rich get Richer

Don M.

Don M.

SF VIP
Location
central Missouri
in 2020, the US economy created 56 new Billionaires. While many millions were suffering job losses, and having to resort to food banks for a meal, the number of US Billionaires reached record levels....now, a total of 659. This handful of Ultra Rich have more combined net worth than over 200 million of the nations poor, and working middle class. This pandemic, and the government (Fed) efforts to protect the wealthy and corporations has caused the Income Inequality to soar to record levels. This is going to prove to be a "ticking time bomb".

https://www.yahoo.com/news/wall-streets-best-ever-why-141551536.html
 

Some of the sources for creating new millionaires makes sense what with trillions of people suddenly relying on online shopping and delivered goods and businesses having to find new ways to serve their customers. Sort of the old necessity/mother of invention paying off.
 

If you've kept up with the news - a lot of companies owned by congresspeople got mega-stimulus and/or Covid-19 Relief money! Other BIG checks went to trump family and friends so.... the rest of us just have to live with it? The Kennedy Center in DC got $40 million in BOTH stimulus packages. What for? It is closed for now. Where does that money go? Makes me seriously angry but...I guess I can e-mail my congressperson and voice my discontent. (We tried to vote them out this year but, it didn't happen.) Maybe next time.
 
Myquest55 said:
If you've kept up with the news - a lot of companies owned by congresspeople got mega-stimulus and/or Covid-19 Relief money! Other BIG checks went to trump family and friends so.... the rest of us just have to live with it? The Kennedy Center in DC got $40 million in BOTH stimulus packages. What for? It is closed for now. Where does that money go? Makes me seriously angry but...I guess I can e-mail my congressperson and voice my discontent. (We tried to vote them out this year but, it didn't happen.) Maybe next time.
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I keep voting 3rd party or at least for newbies. I do research the people I vote for and pick ones whose politics and ideas I like. But true, so far it hasn't changed anything. I think it's going to take more than a ballot to purge our houses of greed and pandering.
 
I like billionaires.

Jeff Bezos employs 1.2 million people around the world.

The Walton family of Walmart employs 2.2 million people.

The Fords employ a mere 175,000 and Elon Musk employs 48,000 at Tesla.

IMO the issue is having a tax system that requires everyone that earns above the poverty level to have an equal amount of skin in the game. It doesn't matter to me if we all pay one percent or twenty-five percent of our income as long as we all pay our share.
 
Myquest55 said:
If you've kept up with the news - a lot of companies owned by congresspeople got mega-stimulus and/or Covid-19 Relief money! Other BIG checks went to trump family and friends so.... the rest of us just have to live with it? The Kennedy Center in DC got $40 million in BOTH stimulus packages. What for? It is closed for now. Where does that money go? Makes me seriously angry but...I guess I can e-mail my congressperson and voice my discontent. (We tried to vote them out this year but, it didn't happen.) Maybe next time.
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Where did the $40 million figure in both stimulus packages come from? Just curious as to your source.
 
Irwin said:
Where did the $40 million figure in both stimulus packages come from? Just curious as to your source.
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The first one was in the news - don't remember the exact article. I remember it because my DH is from DC and used to go to the Kennedy Center so he commented on it as being curious then.

The most recent was an article from BBC - The link is long so if you go to their website look for "Trump Urges Congress to Amend 'Wasteful' Coronavirus Aid Bill" which is the title, you should find it. They list the "pork" in the bill which makes me angry - that money should stay in America and benefit us for now! Why are we helping Egypt buy Russian weapons?
 
Ruthanne said:
Well, with the new powers that will be in Jan. perhaps the ultra rich will then pay their fair share of taxes to help the social aspect of govt. After all, they can certainly afford it and then so but of course, they will be complaining about it.
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That, IMO, is the biggest problem with our tax system. Many of the wealthy pay a substantially lower percentage of their incomes, in taxes, than the average working person. They pay a team of lawyers to look for every loophole in our laws to reduce their payments. And, our politicians are only too willing to bow to the wealthy peoples wishes, if that helps keep them in office. If we had a Fair tax system, it could probably be written on a half dozen pages, instead of the hundreds of pages that our current tax codes contain.
 
Ruthanne said:
Well, with the new powers that will be in Jan. perhaps the ultra rich will then pay their fair share of taxes to help the social aspect of govt. After all, they can certainly afford it and then so but of course, they will be complaining about it.
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Don't hold your breath. One party is not any better about looking out for the average Joe than the other. They are just better at making you think they do. Both are corrupt. Both profit off the wealthy.
 

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