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Because businesses by their nature are generally serving the middle class, but the money is concentrated among the top .01%. This leads to big valuations and r
by forensic 15y ago
Because businesses by their nature are generally serving the middle class, but the money is concentrated among the top .01%.
This leads to big valuations and relatively low revenues. As wealth continues to concentrate at the top of society the trend will continue. This would not have happened 100 years ago when the top tax bracket was ~90%.
Money is worth less to those with wheelbarrows of it. Ownership matters more. Call it inflation if you want.
- niklasl 15y ago"This would not have happened 100 years ago when the top tax bracket was ~90%." Not to be too pedantic, but 100 years ago was a great time to be a millionaire, the highest tax brackets were inconsequential, the tax for the top bracket of $500,000 was 7%. Rockefeller didn't have too much tax planning to worry about. The high brackets came with the depression and later WWII.