3 ms·
> Vast majority of top 1% don't even have much capital to speak of. I disagree, they have vastly more capital than the 99% of earners below them. Unless you're
by save_ferris 7y ago
> Vast majority of top 1% don't even have much capital to speak of.
I disagree, they have vastly more capital than the 99% of earners below them. Unless you're comparing those 1%ers to someone like Zuckerberg specifically, there's really no way to square this statement.
According to the Economic Policy Institute, the earnings threshold to be in the top 1% of earners in 2017 was $718K.[0] That's a pretty incredible amount of annual capital for an individual. Sure, it's not enough to start a hedge fund, but even after taxes, you're able to seriously invest in things like real estate, which fewer Americans are able to do.
0: https://www.epi.org/blog/top-1-0-percent-reaches-highest-wages-ever-up-157-percent-since-1979/ https://www.epi.org/blog/top-1-0-percent-reaches-highest-wag...
- anovikov 7y agoIt's not threshold. It's an average value. Threshold is a lot, lot lower, must be around 350K. The table say those in top 1% but not top 0.1% make $492,311 on average so clearly threshold of 1% is a lot lower than even that. No figure in your sources but my bet would be it's ~$350K
- save_ferris 7y agoWhoops, misread that table.
- sweeneyrod 7y agoBut still not enough capital for the statement in the original comment to apply to them: > There’s so much ease to global movement of capital they just move it around so they pay - no taxes - have no accounts with their name on it - launder all their money legally (if need be) - buy up property and invest without any interest in any country in particular.