Somehow many Americans driven by politicians now believe that the super wealthy are the enemy, that their wealth was somehow taken from you and that to solve the “problem” of inequality we must take more of their wealth.
They have it wrong on two counts.
Look at Sen Warren’s Tweet below. According to her everything is rigged. Think about that, how is it rigged? By laws, and rules and regulations in their favor? If that is true, that can only happen with the cooperation of those who make the laws and rules. They very people who we should trust with new and higher taxes so they can “help” the middle class?
Higher revenue for the federal government will not solve inequality. In my opinion, the real solution starts with the family and the individual, in quality education and more important with individuals taking full advantage of that education. A stable family is critical, also parents who are involved in their children’s education, who encourage, who motivate and with parents who are more concerned with reading a book than playing a video game. We need families who are prudent with their finances regardless of income level and who teach their children about money. Education is important, but that doesn’t mean only college as currently conceived. We need to enhance other forms of education.
But in the end what a person does with their education and skills, even their attitude, is what matters most. Opportunity still abounds. The fact someone made billions with investments has nothing to do with that opportunity.
On May 23, 1986 the price of Microsoft stock was $0.11 a share. On September 14, 2018 it was $113.37 a share.
Let’s say back in 1986 you had $500 to invest and bought 4545 shares (500.00/0.11). Those shares would be worth $515,266 today, except for one thing.
Over the years the stock split nine times. One thousand shares would have turned into 288,000 shares today. That means you now have 1,296,000 shares worth about $146,927,520 not counting dividends. At the 2019 dividend rate your annual dividend income is $529,920.
Your dividend income puts you in the 1% in America and in all but three states. Shame on you. You are also way up there in terms of net worth. You only need $3,000,000 to be in the top 20% in America. You greedy son of a gun.
You didn’t earn that money, you only risked $500 and now you are unfairly wealthy. You are part of the inequality problem.
So the question is, how much of your unearned wealth are you going to share with the rest of us? Don’t worry, if you don’t share, we will just take it.
How did you rig that deal anyway? 🧐