this post was submitted on 26 Oct 2024
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Rich tax. (feddit.org)
submitted 4 weeks ago by Dot@feddit.org to c/whitepeopletwitter@sh.itjust.works
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[–] SuperSpruce@lemmy.zip -1 points 3 weeks ago (1 children)

Not the most fair comparison. Compare it to the richest people in 2012, as extreme wealth ebbs and flows with inflated "funny money" stocks.

[–] LifeInMultipleChoice@lemmy.dbzer0.com 2 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

https://fred.stlouisfed.org/series/WFRBLT01026

Edit: also remember the unit on the left side is 1,000,000.

So 10,000,000 is 10 trillion dollars.

So that would show ~5 trillion dollars in net worth to 45+ trillion from 1990 to now.

So they have made 900% increases over 35 years. Note inflation would have been 241% during those years.

Instead of being rich for life and never needing money for anything, now they are rich for life and never need money for anything times 3.73.

Instead of that money going to the people starving while working their ass off.

[–] SuperSpruce@lemmy.zip 1 points 3 weeks ago

This is a better comparison than the post itself, and we should also be putting the minimum wage on the graph to compare the gains.