Business and Finance
Ian Winer is an investor, philosopher, humanitarian, writer and public speaker who connects people to the truth of market places and human behavior. Ian is the author of the book, Ubiquitous Relativity: My Truth is Not the Truth. A regular contributor to CNBC, Fox Business, The Wall Street Journal, Bloomberg, and Reuters, to name just a few, he is known for seeking connections through non consensus thinking and making it relatable to everyone.
IF AMERICA DOESN'T DO SOMETHING ABOUT INCOME INEQUALITY, THEN INCOME INEQUALITY WILL DO SOMETHING ABOUT AMERICA
1) INCOME INEQUALITY IS THE SINGLE BIGGEST THREAT TO THIS COUNTRY
The top 1% of this country owns greater than 40% of country's wealth and that is growing.
The top 1% of this country has more wealth than the bottom 90% combined.
That level of inequality is more than preceded the French Revolution (The top 3% owned 35% of the land)
2) THE PUSH TOWARDS SOCIALISM IS A NATURAL REACTION TO NOT ONLY INCOME INEQUALITY, BUT AN ARROGANCE ABOUT IT
Larry Kudlow Today: "The top 1 percent basically pays more than the lowest 90 percent, so who's carrying the freight here?"
Comments like that only fuel the fire.
Another example is keeping the carried interest loophole in the tax cut bill.
3) THE TAX BILL HAS LARGELY BENEFITED SHAREHOLDERS AND THOSE WHO OWNS ASSETS, NOT THOSE WHO WORK FOR A LIVING.
Actual employees did not benefit very much because they lack real exposure to asset price gains in the stock market.
The richest 10% of Americans now own 85% of the stock market.
Resulted in Companies buying back stock, or buying other companies and then firing people.
THIS WILL REMEDY ITSELF ONE WAY OR ANOTHER
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