America's 1% Has Taken $50T From the Bottom 90%

Re:America's 1% Has Taken $50T From the Bottom 90% by TrinaryWorksToo on Thursday February 11, 2021 @09:48PM (#26110232)

Do you understand how poor some people are?

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Re:America's 1% Has Taken $50T From the Bottom 90% by unishark on Friday February 12, 2021 @01:27AM (#26111223)

This is a different goalpost. The story is about the top 1 percent versus the bottom 90 percent.

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Re:America's 1% Has Taken $50T From the Bottom 90% by wyre on Friday February 12, 2021 @02:24AM (#26111403)

The bottom 90% contains people that are too poor to invest in stocks.

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Re:America's 1% Has Taken $50T From the Bottom 90% by TrinaryWorksToo on Friday February 12, 2021 @10:38AM (#26114819)

https://www.cbsnews.com/news/nearly-40-of-americans-cant-cov...

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Re:America's 1% Has Taken $50T From the Bottom 90% by WalterBright on Friday February 12, 2021 @05:31PM (#26119300)

I've known many people like that. They weren't poor, they just overspent their income. It's common to be middle class and have no money.

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Re:America's 1% Has Taken $50T From the Bottom 90% by unishark on Saturday February 13, 2021 @01:58AM (#26121936)

I think the headline is misleading. Only 12 percent flatly said they couldn't pay for the expense. The 40 percent includes everyone who would take on debt and pay it off over time (i.e. not immediately in the next cc statement), or else sell something. People who choose to live right at their level of income would included, regardless how high that income is, and even when it is possible for them to make adjustments when surprises come along.

The survey also found 75 percent of people responded they were living comfortably or "doing ok".

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