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by meanduck
3444 days ago
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Your math is little wrong. 1%: The Politicians, Bureaucrats & Friends.
19%: The Rich paying with money.
80%: The Poor paying with freedom.
Guess who takes shelter in tax havens like rich but at the same time pretend to be altruistic to/for poor. |
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The 1% is primarily made up of people who have enough money that most of their income is passive, in the form of investment income, dividends, etc. Also it's worth pointing out that there's a couple ways of calculating whether or not you're in the 1% -- you can do it based on annual salary or net worth. The people who are _really_ in the 1% are there based on net worth, and it takes almost $9M in assets to get there.
I'd break your list down into 4 categories:
The 1% who can fund a politician's campaign, primarily through super PACs and other funding mechanisms that don't come with limits on the size of a donation.
The people who may look and feel wealthy (they may have a fancy car, a job that pays well, but also a lot of expenses and haven't passed the point where their money has given them enough leverage to trade it for time -- instead they're still trading time for money). These people are the next 5% or so, with a minimum net worth of $2M. They are also likely to be the scapegoats for the true 1%.
Next up are _some_ politicians (the ones with real influence -- your local mayor may or may not count, depending on the size of the city you live in. Your governor may or may not count, depending on the state you live in. Your House representative may or may not count, depending on how long they've been in office, which party currently controls the House and what committees they're on. There's your Senators -- hey! they probably count!) These are the 1%ers of politians -- the rest of them don't make a ton of money _and_ don't have a ton of influence. These guys are hoping to get cushy boardships, lobbying jobs, speakers fees, etc -- stuff that they're well-trained for by being a career politician.
Then you have everyone else... Roughly 90% of Americans, just trying to keep their heads above water, hoping they have enough money to pay the mortgage, the rent, their kid's college education, the electric bill, or what-have-you. They are translating their time into money, but have almost no economic mobility -- meaning they have almost no chance to join 1%, and will only join the 5% at retirement at best.