l3v3ll

True, it’s hard to relate to the people defending the status quo in these comments. I think I am usually pretty good at understanding the other side of the argument, but tough for me here.

Agreed. The difference between the top .01% and top 2% is many magnitudes larger than the difference between those 2% and the other 98%. (Sorry no source.). But both seem to contribute to the increasing inequality.

Ha! I was going to edit my post with exactly that, that is correct. 500K/year is probably top 2%?

Quit down playing the inequality. Let me make the math easier. Of 10 people, one owns 86% of the stock. The other 9 fight for the other 14%. You are trying to justify that and it’s unfortunate. Also, the few billionaires are still very much a problem. However, the top 10% still displays a large inequality, quite the opposite of “doing very well”. And, I’m glad there are 10%’ers who are pro-equality, they aren’t complaining about being oppressed. They are displaying solidarity with the less fortunate and I hope they are showing it by voting for pro equality measures and politicians (an oxy-moron, I know, but there’s a few good ones).

Right, good luck predicting and buying a house in the next London. Just like my stock pick is going to be the One in 30 years.

Flip what around? A mortgage doesn’t give you the benefits of being wealthy. Whether the market is good or bad. Anyway, the point is moot as the parent report shows the top 10% also own 41% of the houses, so the initial argument stands that the wealthy are benefiting the most.

20- and 30- somethings at FAANG is hardly a picture of America as a whole. Also if 20- and 30- somethings ignore the rest of our neighbors in other fields because “F you got mine”, we’re hardly better than the elitists.

Yea, it IS true. Do you have a source? The comment above you has a source that includes

> the wealthiest 10% own 84% of all publicly traded stocks, mutual funds, trusts, or various pension account assets

Looks like pensions are included and mutual funds which are likely a majority of 401Ks.

I wouldn’t call ownership a benefit for the 71% of home owners with a mortgage.

> Zillow’s Negative Equity 2012 Q3 data; we find 29% (20.6 million) of homeowners own their home outright

https://www.zillow.com/research/free-and-clear-american-mort...

Thanks for the link. I’m on mobile and only got a second hand source on my comment below. I totally agree it must be worse now. It would be interesting to see the latest numbers.

I was about to comment the same. The parent saying “not just the elites have benefited” is ignorant.

https://money.com/stock-ownership-10-percent-richest/

I checked a lot of my family and friends names. I found my friend on the list. Without letting him know, I asked if he was for or against it. He said he's never made a comment, and there are 2 comments with his name and current address. I believed the fake comments were happening, but this is actual proof for me that it did happen. He is submitting a report on AG Schneiderman's website now.