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this post was submitted on 27 Jun 2023
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There is a certain amount of schadenfreude when you see the ultra rich suffering some self imposed misfortune but when I see the 1% I really just think that they need to go against a wall while the collective takes their I'll gotten gains to the tax man to socially distribute to those who need with housing then mental health and healthcare followed by education and jobs in infrastructure to bring our whole society into an environmentally friendly sustainable future.
Then again that is just a run on sentence of dreams.
You'd be amazed at how little it takes to be in "the 1%". Going by total wealth (instead of income), the 1% is about 3.5 million dollars starting. That means your average small business owner likely qualifies as "the 1%". Again, not quite where you really want to be addressing your ire.
The real abuse comes from, like, "the 0.1%" (starting at about 17 million) or maybe even "the 0.01%" (starting at about 78 million). And that means you're going to be eating people who have multiple homes whose wealth comes primarily from exploitative investments, abusive tax loopholes and other such shitfuckery, not people who worked their entire lives to finally own the corner store they now run.
source: https://economics.princeton.edu/working-papers/top-wealth-in-america-new-estimates-under-heterogenous-returns/