IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
evergreensmallbusiness.com
IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
1–10 of 24 posts
Re: IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
#2Anyones else getting really strong vibes of "author doesn't understand what they're analyzing" from this?
[edit] In particular, they seem to spend a lot of space marveling over marginal utility as if they'd never encountered such a thing, yet fail to mention it by name, and there are gems like: "curiously, the wealthiest Americans hold relatively modest balances in their retirement accounts" for which the author betrays no hint of having used "curiously" rhetorically and doesn't attempt to explain when, to a person like me who knows almost nothing about finance and economics, the reason seems obvious, unless they mean something different by "retirement account" than what I think they do (tax-privileged accounts like IRA and 401k). The word "trust" also does not appear in the article's body text. The apparent "gee, look how wrong these other stats are" at the beginning seems wholly unjustified without further analysis which is absent (i.e. most likely the author didn't notice that the difference is due to some methodological differences between the sources, or in some other way failed to understand what they were comparing, rather than such a source actually being so far off)
Re: IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
#3Click bait. Do not waste your time.
>Looking at the finances of people who have more money that you or I do can be a little unsettling. If we’re not careful, the financial voyeurism can also foster a sense of ingratitude. That’s not good…
"Ingratitude"?
Right after US congress passed the tax cut that will add 1,000,000,000 to the deficit?
Is the author - "Steve" - funded by the Mercers or the Kochs?
Re: IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
#4Anyones else getting really strong vibes of "author doesn't understand what they're analyzing" from this? [edit] In particular, they seem to spend a lot of space marveling over marginal utility as if they'd never encountered such a thing, yet fail to mention it by name, and there are gems like: "curiously, the wealthiest Americans hold relatively modest balances in their retirement accounts" for which the author betr…
Look rich people are just like you and me! Now stop complaining and get back to work!
Re: IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
#5Anyones else getting really strong vibes of "author doesn't understand what they're analyzing" from this? [edit] In particular, they seem to spend a lot of space marveling over marginal utility as if they'd never encountered such a thing, yet fail to mention it by name, and there are gems like: "curiously, the wealthiest Americans hold relatively modest balances in their retirement accounts" for which the author betr…
Look at the context of the post. The site has an angle.
Re: IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
#6Anyones else getting really strong vibes of "author doesn't understand what they're analyzing" from this? [edit] In particular, they seem to spend a lot of space marveling over marginal utility as if they'd never encountered such a thing, yet fail to mention it by name, and there are gems like: "curiously, the wealthiest Americans hold relatively modest balances in their retirement accounts" for which the author betr…
I still have no idea what his point was.
Re: IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
#7Click bait. Do not waste your time. >Looking at the finances of people who have more money that you or I do can be a little unsettling. If we’re not careful, the financial voyeurism can also foster a sense of ingratitude. That’s not good… "Ingratitude"? Right after US congress passed the tax cut that will add 1,000,000,000 to the deficit? Is the author - "Steve" - funded by the Mercers or the Kochs?
Don't forget that they will be creating jobs for you and me. So there is reason to be grateful.
Re: IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
#8Click bait. Do not waste your time. >Looking at the finances of people who have more money that you or I do can be a little unsettling. If we’re not careful, the financial voyeurism can also foster a sense of ingratitude. That’s not good… "Ingratitude"? Right after US congress passed the tax cut that will add 1,000,000,000 to the deficit? Is the author - "Steve" - funded by the Mercers or the Kochs?
His full name and contact info is on the website:
https://evergreensmallbusiness.com/795-s-corporation-tax-ret...
He's a small business CPA. He did some research and published it. From his professional perspective, this is no different than Show HN: Video subtitle maker.
Look, I can't stand the Mercers and the Kochs as much as the next dweeb but you actually have to establish that link.
Re: IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
#9Click bait. Do not waste your time. >Looking at the finances of people who have more money that you or I do can be a little unsettling. If we’re not careful, the financial voyeurism can also foster a sense of ingratitude. That’s not good… "Ingratitude"? Right after US congress passed the tax cut that will add 1,000,000,000 to the deficit? Is the author - "Steve" - funded by the Mercers or the Kochs?
Don't forget that they will be creating jobs for you and me. So there is reason to be grateful.
Overwhelmingly what companies do with tax cuts is stock buy backs, not hiring. When all companies are treated the same, they make decisions to hire regardless of the tax rate. And by the way, payroll is tax deductible. The salary is way way way bigger of a cost than the tax on that salary, most of which is paid by the employee.
Re: IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
#10I found this more interesting and relevant:
http://www.people.hbs.edu/mnorton/norton%20ariely%20in%20pre...
What is the optimum level of wealth inequality? First they put together what most people think is a fair distribution of wealth, then have those people estimate what they think it actually is, and then compare it to the actual distribution of wealth. Most people have the right idea that wealth inequality is not optimal, but they're way way off on estimating how suboptimal it is.
This is a screen shot of one of the charts in the doc. https://screenshots.firefox.com/EnpiKHzPzi7X2cGw/www.people....