Economy U.S. Billionaires Got $1 Trillion Richer During Trump’s Term

[fedoriswar37]

Some people lw shut down entire communities and funnelled biillions of dollars to mega corporations who got to stay open this year. I know it doesn't paint a picture or his entire presidency but that did happen and it wasn't Trump who did it

 

[Hollywood Jack]

Some of us warned you the Elites would benefit from these lockdowns

Best thing ever to happen to Big Tecj

Bezos Bless!!

A blind man could see it coming. But that doesn't necessarily mean that lock downs were bad. In many cases they were absolutely imperative from a public-health perspective. You've got to look at all of the metrics and make a rational decision. That's why many states have opened and closed and vice versa based on dynamic data and figures as well as other practical concerns.

 

[Hollywood Jack]

Some people lw shut down entire communities and funnelled biillions of dollars to mega corporations who got to stay open this year. I know it doesn't paint a picture or his entire presidency but that did happen and it wasn't Trump who did it

This is a fair and fact-based point that I have not lost sight of. Like I said in the OP, Trump is the symptom rather than the disease. More corporate/partisan Democrats often don't realize that or pretend it is not the case. While I voted for Biden, I do realize that he represents a return to a status quo that wasn't working for ordinary Americans. But it is better than the alternative.

 

[Staph infection]

https://www.bloomberg.com/news/arti...s-got-1-trillion-richer-in-trump-s-first-term

We should be clear. Trump is the symptom rather than the disease. But surely he has made the problem much worse. He ran as a populist, but governed as a typical Republican. 50 people in the US got over $800 billion in a little less than four years. This type of wealth inequality is what makes a 3rd World country not a vibrant Western democracy.

Of course they made money, the US has become a bunch of fat shit idiots that are super lazy and addicted to technology. All they do is sit around and spend to have the latest phone and video game consoles, they cook less and don't want to go to stores, so Amazon is great, as is food delivery services and even grocery pick up services. This was happening before Trump and the richest will still get richer even after Trump. Even if the government tries to find ways to tax them at a higher bracket or for more money, they have the money and means to find away around most of it.

 

[Philo-Publius]

https://www.bloomberg.com/news/arti...s-got-1-trillion-richer-in-trump-s-first-term

We should be clear. Trump is the symptom rather than the disease. But surely he has made the problem much worse. He ran as a populist, but governed as a typical Republican. 50 people in the US got over $800 billion in a little less than four years. This type of wealth inequality is what makes a 3rd World country not a vibrant Western democracy.

Yes. Because of the economic shut downs and riots that killed small businesses (thereby allowing big corporations to fill that void).

 

[HOLA]

Not just billionaires. My finances have done quite well as well. Tax cuts + reinvestments into the stock market / real estate means that the americans that aren't dead-beat drags on society will have made strides in building generational wealth. I'd like to keep it that way. Don't want someone taking my hard earned money and redistributing it to low lifes.

In before all the sherdog socialists try to lynch me.

Only 52% of adult Americans have any money in the stock market.

Also, Trump, despite massive tax cuts, hasn't even achieved remarkable results.

2009: 26.46%
2010: 15.06%
2011: 2.11%
2012: 16.00%
2013: 32.39%
2014: 13.69%
2015: 1.38%
2016: 11.96%
2017: 21.83%
2018: -4.38%
2019: 31.49%
2020: 4.02%

That's the S&P 500 annual return with dividends included. People acting like Trump supercharged returns after Obama are completely wrong.

 

[Literally Bricked]

So?

Seriously this. One trillion dollars divided by 200 (number of billionaires) is $5,000,000.

 

[Hollywood Jack]

Yes. Because of the economic shut downs and riots that killed small businesses.

There's no doubt that played a part in this. But bottom line is we need systemic reforms to address these issues. We need to join the rest of the developed world. We should not devolve into an oligarchy with 3rd World-level wealth inequality.

 

[Paradigm]

Everyone got richer but unemployment is at record high.

Don't you really believe what your saying ? Lol

Many on unemployment got richer too.

 

[HockeyBjj]

Most of that growth is in net worth via the companies they own, not take home profits

should they be forced to sell then? Is that the proposal?

 

[RowdyLesnar]

 

[Jack V Savage]

Seriously this. One trillion dollars divided by 200 (number of billionaires) is $5,000,000.

Um, you might want to check your math there, big guy.

Most of that growth is in net worth via the companies they own, not take home profits

should they be forced to sell then? Is that the proposal?

Yeah, it's not the best way to look at the issue. But there has been upward redistribution, and that does IMO represent a policy failure.

 

[Philo-Publius]

There's no doubt that played a part in this. But bottom line is we need systemic reforms to address these issues. We need to join the rest of the developed world. We should not devolve into an oligarchy with 3rd World-level wealth inequality.

I think Socialism will take us in that direction.

 

[Hollywood Jack]

I think Socialism will take us in that direction.

We're already headed in that direction, and the US is in no risk of becoming a socialist nation any time soon...

 

[kenetics]

Many on unemployment got richer too.

How dumb does that sound.

 

[Hollywood Jack]

Seriously this. One trillion dollars divided by 200 (number of billionaires) is $5,000,000.

Add three more zeros, bub.

 

[kenetics]

Prior to and even during COVID we had record EMPLOYMENT, didn't we? Or was it just record low black unemployment?

Regardless. I have increased my wealth quite a bit. The fact remains.

You can try to blame *EVERYTHING* on Trump but I see him trying to keep the economy open during the pandemic *AND* trying to de-couple us from China. Both of which are vital to this country.

I know you are desperate to blame every woe on DJT but the circumstances are more than 1 person. The entire global economy is going into the shitter and the Democrats are doing *EVERYTHING* they can do tank the economy because they know it is the only way they are going win the election. And they are willing to sacrifice everyone to that aim.

Never forget.

I didn't blame trump first off. Second just because you're doing well doesn't mean everyone else is. Unemployment benefits as record lows before covid so your wrong on that as well.

 

[Simple Southerner]

Yes.

 

[Jack V Savage]

To expand on the kind of implied response to the TS (@Jackie Blue), I think the primary issue is what it indicates. If the country is rich but most people in it are not, that's not a well-run country.

 

[Philo-Publius]

We're already headed in that direction, and the US is in no risk of becoming a socialist nation any time soon...

I disagree with that last part of your sentence.