General Discussion

hfojvt

(37,573 posts)

108. who has "less"?

Thu Dec 4, 2014, 01:29 PM

Dec 2014

I am expecting more, myself, from those who have MORE. More than me anyway.

As for the 0.1% having all the wealth and power.

According to the 2011 census of wealth 6.75% of American households have more than $836,033 in net worth. Subtract the 0.1% from that group gives us 6.65% of 118.69 million households with AT LEAST $800,000 in net worth. That's $6.3 trillion in wealth for that group.

Or consider the 19.35% who have more than $250,000 in net worth (and less than $836,033), they have at least $8.4 trillion in combined net worth.

I think those people have some wealth and power.

One somewhat amazing fact is that 8% of those in the HIGHEST income quintile have negative or zero net worth. Yet they make more money than 80% of their fellow Americans. Probably they are lawyers and doctors who are just starting out and have lots of school debt. After all, in 2002 67% of those with zero or negative net worth - were under age 45 and 43% were under age 35.

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Bernie Sanders: Do you know why millions of our people are stressed out? [View all] Playinghardball Dec 2014 OP

Yup bigwillq Dec 2014 #1

Maybe they should save more? taught_me_patience Dec 2014 #2

How do you save more Drale Dec 2014 #3

exactly. wages stagnent for over 30 years now. TheNutcracker Dec 2014 #6

Real wages are stagnant taught_me_patience Dec 2014 #13

Your right, nominal wages are increasing ... aggiesal Dec 2014 #37

You are correct. The last five years have sucked for wages taught_me_patience Dec 2014 #53

Hmm, the .01% seems to have recovered X 1000 from all the charts I have seen. Live and Learn Dec 2014 #90

Not correct, in 40 years workers as an average have LOST $, bigtime...look it up. drynberg Dec 2014 #99

Sort of Both, Patience ProfessorGAC Dec 2014 #107

THIS ^^^^ volstork Dec 2014 #20

is THAT really true of 50% of the population hfojvt Dec 2014 #48

Thank you. SheilaT Dec 2014 #86

your perspective on students loans is wildly unrealistic. redruddyred Dec 2014 #104

I don't think my perspective on student loans is wildly unrealistic. SheilaT Dec 2014 #110

I think that you are wrong. in fact I know it. redruddyred Dec 2014 #111

Dear Lord, how could I've been so blind..... daleanime Dec 2014 #92

who has "less"? hfojvt Dec 2014 #108

American CEOs make 475 times what the average employee makes. Initech Dec 2014 #4

You just forgot the "sarcasm" smilie, right? MANative Dec 2014 #5

Save more? HappyMe Dec 2014 #9

All they need is a little bootstrapping Orrex Dec 2014 #10

Probably creating a budget taught_me_patience Dec 2014 #15

Ah, yes. The old "you should simply have more money" strategy. Orrex Dec 2014 #17

I think you need to review the TBF Dec 2014 #18

I think I'll fast 1 day a week and put the $ not spent on food into savings. Oops, a tooth went bad, uppityperson Dec 2014 #22

+1000 silverweb Dec 2014 #56

Why do I get the feeling that you have never endured real Jackpine Radical Dec 2014 #25

Or conservative ideology. louis-t Dec 2014 #41

Hey, why don't the poors just get a loan from dad? Marr Dec 2014 #45

Or, heck, make some speeches at Goldman Sachs? They pay well, don't they? closeupready Dec 2014 #59

They are proud azmom Dec 2014 #100

This can only reflect astonishing naivete hifiguy Dec 2014 #26

I know someone who is one of those irritating types that saved from their first job.... Spitfire of ATJ Dec 2014 #31

cost of rent, groceries, natural gas for heating, education, taxes, health care, liberal_at_heart Dec 2014 #43

hey, maybe they can do that in their car before clocking into their third job.. frylock Dec 2014 #47

You gotta be kidding right? abelenkpe Dec 2014 #24

Completely serious taught_me_patience Dec 2014 #33

60 yrs old nurse and never made 90k a yr. uppityperson Dec 2014 #57

You're really stuck on that 90k aren't you? taught_me_patience Dec 2014 #60

uh. huh. I am sorry you miss the point that saying "budget, save" is rather condescending to most of uppityperson Dec 2014 #64

Median household income in the US is 52k - You are wrong. taught_me_patience Dec 2014 #79

This message was self-deleted by its author uppityperson Dec 2014 #82

you aren't worth is. eom uppityperson Dec 2014 #83

Median household income isn't comparable to personal income. NutmegYankee Dec 2014 #112

oh, my god. How oblivious can you be? Do you not comprehend that 95% of Americans liberal_at_heart Dec 2014 #67

99.4% /nt Ash_F Dec 2014 #75

Oh yeah, the old I'm making $90k a year so everyone must be draa Dec 2014 #69

17 posts in five years and this is what you comment on? taught_me_patience Dec 2014 #78

Hey draa, don't mind posers here. You understood perfectly RiverLover Dec 2014 #87

I have a PhD and a good job and I'll never make that. a la izquierda Dec 2014 #98

You are truly special Ash_F Dec 2014 #34

So you disagree that there are millions of Americans who could be saving taught_me_patience Dec 2014 #35

There are roughly 1.5 million people out of 250 million wage earners who make over 90k. Ash_F Dec 2014 #36

My husband was fortunate enough to make it to that point at one point during his career. liberal_at_heart Dec 2014 #49

Thank you for sharing your experience. /nt Ash_F Dec 2014 #74

Oh, there you go again with your numbers and statistics. uppityperson Dec 2014 #58

Why are you calling this a "fact" when it seems to be your opinion? RadiationTherapy Dec 2014 #55

We saved. The interest rate is far less than the inflation rate and that's in this time of low JDPriestly Dec 2014 #40

You may have heard of Elizabeth Warren? Or do you think she is lying when she points out that jtuck004 Dec 2014 #50

Or be part of the lucky sperm club? NoJusticeNoPeace Dec 2014 #51

Are you out of you mind .. step into reality. People don't have any money to put away .. get it? YOHABLO Dec 2014 #68

Median household income in the US is 52k taught_me_patience Dec 2014 #80

I am sure you are well aware that median income is basically meaningless since living costs Live and Learn Dec 2014 #91

Personal responsibility... LawDeeDah Dec 2014 #73

But what if there is no money to save? Just go get another job right? Rex Dec 2014 #76

save more? demigoddess Dec 2014 #77

Yeah. If they are out of bread let them eat cake. GoneFishin Dec 2014 #84

that's right, I posted before reading the replies eShirl Dec 2014 #94

One of my fb friends featured a local ad for arikara Dec 2014 #89

Don't get a 1bd taught_me_patience Dec 2014 #105

"Until you are making more money" Wow. You really just don't get it. liberal_at_heart Dec 2014 #106

And if they have no bread, maybe they should eat cake? eShirl Dec 2014 #93

When has this ever NOT been the case? Indydem Dec 2014 #7

My grandparents were farmers. They did not have "savings" sitting around, but they owned JDPriestly Dec 2014 #46

Good post LiberalLovinLug Dec 2014 #109

And the last 15 years the billionaires extreme greed has reached catastrophic levels. Initech Dec 2014 #8

31 years, the Reagan revolution ruined the New Deal intentionally. Dont call me Shirley Dec 2014 #11

I agree, but many on DU seem to think Reagan economics were not so bad, currently many DUers Bluenorthwest Dec 2014 #23

Sit down for this statistic. hifiguy Dec 2014 #12

Whaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaat?????? Initech Dec 2014 #16

They are begging for the guillotine at this point. hifiguy Dec 2014 #19

When the revolution happens I don't want to be them. Initech Dec 2014 #21

They should reflect on the fates of the Ceaucescus, hifiguy Dec 2014 #28

Neither did the French Revolution, former9thward Dec 2014 #38

"Poor people will rise up and take what's theirs" Tracy Chapman Dont call me Shirley Dec 2014 #30

We have no retirement. We are trying to pay off our house before retirement so we have a roof over Dont call me Shirley Dec 2014 #14

Kick,kick,kicked&Recommended! butterfly77 Dec 2014 #27

I'm surprised it's even anywhere near 50%. Erich Bloodaxe BSN Dec 2014 #29

Especially because 23% of the population is below 18 and not even working taught_me_patience Dec 2014 #44

There is some truth in your post. JDPriestly Dec 2014 #66

Great post covering a lot of matters. truedelphi Dec 2014 #71

Great post, you were so babylonsister Dec 2014 #85

yes, impressive nt steve2470 Dec 2014 #97

The average American 401(k) has around $80,000 in it. liberal_at_heart Dec 2014 #70

Those of us who understand what the disparity in wealth could do not just to individuals who lose JDPriestly Dec 2014 #88

K&R. JDPriestly Dec 2014 #32

kick for Bernie. 840high Dec 2014 #39

Imagine the country we'd have if even a third of our leaders were on the same page as Sanders. k&r polichick Dec 2014 #42

'Cause we're poor shenmue Dec 2014 #52

Ten thousand? TEN THOUSAND?? In SAVINGS!? BAAAAAAAAAAHAHAHAHAHAHAHAHAHAHAHA RadiationTherapy Dec 2014 #54

The text is too small to read, but let me hazard a guess: Quantess Dec 2014 #61

Bernie is right to a point......... RationalMan Dec 2014 #62

Sorry but just like white people will never be able to understand being black, those liberal_at_heart Dec 2014 #65

You missed the point of my post..... RationalMan Dec 2014 #96

My husband made a good living for a while and made some friends that have a good liberal_at_heart Dec 2014 #101

Because.. mvd Dec 2014 #63

One of the most revealing quotes ever: hifiguy Dec 2014 #72

K&R! This post deserves hundreds of recommendations! Enthusiast Dec 2014 #81

WE THE PEOPLE, not I the people aspirant Dec 2014 #95

I know why millions of OUR people are "stressed out" ... 1StrongBlackMan Dec 2014 #102

K & R! lonestarnot Dec 2014 #103

K&R A representative of the people woo me with science Dec 2014 #113

It's a reality that interferes with the illusion of being middle class...nt Jesus Malverde Dec 2014 #114