Want to track the apocalypse? One theory: Follow the billionaires' jets

yahoo.com

10 points·ari-burshell··5 comments

The part of the story that stood out most for me is connected to the theme of the distribution of wealth in the United States.

From the Article - 'The apocalypse tracker hits on a growing divide and sense of resentment between working and middle-class Americans and the very, very rich. In the U.S. alone, the top 1 percent of the population holds 31.9 percent of total wealth, according to the Federal Reserve.'

What should be the right distribution of wealth? -RE

oh, such a sneaky question. The one where it's not slavery. Do you really have trouble understanding that?

Also, one where being rich doesn't equate to being a king and citizens feudal peasants.

If you give me a couple of million dollars, I'll happy to do the studies for you, but this is a strict "gotcha" question about the immorality of "communism".

Wealth concentration seems to fluctuate. A hundred years ago (1916) the richest 0.1% held about 25% of U.S. wealth falling to 7% in 1978. If the current figure continues to grow we may see some unrest or a wealth tax.

SVI - what do you think is the magic # for a wealth tax or regulatory solution to gain momentum?

I think there has to be a consultation of some kind. From what I can see in the press the obscenely wealthy are willing to pay more tax, it is just a question of how much and how it is collected. Give them the opportunity to come up with their own plan and take it from there. Probably would have to be hypothecated taxation but that is no bad thing.

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