{"id":103172,"date":"2016-04-30T01:50:35","date_gmt":"2016-04-30T01:50:35","guid":{"rendered":"http:\/\/www.merindab.com\/private\/2016\/04\/30\/forget-the-1-its-the-01-who-run-the-show\/"},"modified":"2016-04-30T01:50:35","modified_gmt":"2016-04-30T01:50:35","slug":"forget-the-1-its-the-01-who-run-the-show","status":"publish","type":"post","link":"https:\/\/www.merindab.com\/private\/2016\/04\/30\/forget-the-1-its-the-01-who-run-the-show\/","title":{"rendered":"Forget the 1%: it’s the 0.1% who run the show"},"content":{"rendered":"

mostlysignssomeportents<\/a>:<\/p>\n

\n

<\/figure>\n<\/p>\n

The wealthiest one out of 1,000 US families \u2013 the 0.1 percent \u2013 comprise about 115,000 households whose net worth starts at $20M, and goes up and up from there, accounting for at least as much wealth as the poorest 90 percent of US households.<\/p>\n

Mere 1 percenters are often people who got lucky doing real work: movie stars, doctors, lawyers, engineers, accountants, etc. They own nice houses and have retirement savings, but they don\u2019t own islands, helicopters, or gilded survival shelters that they plan to hide in while the rest of us eat each other on the blighted, apocalyptic surface-world.<\/p>\n

Because they tend to earn their money from work, it is taxed at something like a normal rate; in contrast, the 0.1 percent earn nearly everything from capital gains, which not only enjoy much lower tax rates (because US tax policy rewards owning things ahead of doing things) and is much easier to shift offshore.<\/p>\n

The 0.1 percent has a few tech billionaires and a few more finance people (naturally) \u2013 but the fastest-growing cohort in that exalted tier is professional descendants, who inherited their wealth from their forebears, with names like \u201cWalton\u201d and \u201cKoch.\u201d<\/p>\n

One percenters are more likely to see their natural allies as everyone else, because they live in precarious circumstances (having a lot to lose makes you a fat target from 0.1 percenters who have skimmed all the krill out of the financial seas and want bigger game).<\/p>\n

https:\/\/boingboing.net\/2016\/04\/22\/forget-the-1-its-the-0-1.html<\/a><\/i><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

mostlysignssomeportents: The wealthiest one out of 1,000 US families \u2013 the 0.1 percent \u2013 comprise about 115,000 households whose net worth starts at $20M, and goes up and up from there, accounting for at least as much wealth as the poorest 90 percent of US households. Mere 1 percenters are often people who got lucky … <\/p>\n

Continue reading “Forget the 1%: it’s the 0.1% who run the show”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[1185,10446,4],"_links":{"self":[{"href":"https:\/\/www.merindab.com\/private\/wp-json\/wp\/v2\/posts\/103172"}],"collection":[{"href":"https:\/\/www.merindab.com\/private\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.merindab.com\/private\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.merindab.com\/private\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.merindab.com\/private\/wp-json\/wp\/v2\/comments?post=103172"}],"version-history":[{"count":0,"href":"https:\/\/www.merindab.com\/private\/wp-json\/wp\/v2\/posts\/103172\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.merindab.com\/private\/wp-json\/wp\/v2\/media?parent=103172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.merindab.com\/private\/wp-json\/wp\/v2\/categories?post=103172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.merindab.com\/private\/wp-json\/wp\/v2\/tags?post=103172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}