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by pbhjpbhj
929 days ago
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The report is that net worth (not income) of the wealthiest rose 42%. Wages would tend to be a fraction of wealth for those on middle incomes, say, who have been in work for more than a few years. They will have payed the majority of their wages for years into acquiring a place to live. In the Uk my house would now cost 8x my wage, a wage increase of 43% (for one year) would increase my net worth by about a sixteenth (~6%). Inflation is 10% (not 42%) and my employer capped wage maintenance at 8%. In October, Indian government wage maintenance was 4% (https://www.reuters.com/world/india/india-raises-dearness-al...), do you think the private sector paid 10x more? |
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How much increase for the net worth minus stocks? Betting that any increase there was much more modest.