When do you consider someone "wealthy" or "rich"?

You missed my point , how many of the Wealthy have enriched their intellect , because of their wealth .

 

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My words

Agreed

And there Are investment opportunities based on ethical and environmental practices . As well as the Wealth going to the people .

There are Many Companies out there that are very advanced in their thinking upon what a Company should be based on .

Yes and No .

Big corps matter , they employ thousands of people .

But so do small businesses , from 5 employees to a few hundred , too a few thousand . Small businesses Matter to more People than very Large corps .

But they matter more together than a part in the Macro Economic Picture .

 

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One does not need to be a billionaire to be able to enjoy all the cultural accomplishments.
Personal collections are seldom shared with the general public.
Einstein was patent clerk!
Great architecture like the Pyramids, Taj Mahal, the great Castles in Europe, all were built on the backs of slaves or common laborers. Today we can't even build roads anymore (Atlas Shrugged).
Serious Artists seldom are rich when they start and many remain poor until after they die.

 

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Not many!

 

.

Many

 

1 % own 50 % of the total wealth in this world.

https://www.americanenergyalliance.org/2019/04/gm-and-tesla-pay-no-taxes-take-more-handouts/#

Note that the Company was bailed out with Tax money and management wrote themselves "bonuses"

And as to responsible management of natural resources by the wealthy Corporations, read up on the "Halliburton Loophole" which exempted oil drillers and frackers from EPA regulation.

https://en.wikipedia.org/wiki/Energy_Policy_Act_of_2005

Something is askew here! This is not an isolated incident.
In a Capitalist world "unrestricted capitalism" always favors the wealthy.

 

And 50% of the wealth is spread out , amoungset the rest .

 

Yes, the other 99% .
Do you call that a balanced distribution of wealth?

Ever heard of "Corporate welfare", whereas welfare for the poor and infirm is constantly being cut.

The current scheme to cut the cost of the Covid pandemic is to allow Herd Immunity to run it's course and cull the poor and elderly who are not resistant to the virus from the herd, whereas they may well be saved by investment of some of that excess wealth sitting in Tax-free havens in Cayman Islands.

 

No

But we can all do something about this .

Corporate Welfare . So unnecessary .

 

At less than a "living wage". By that standard, "slavery" provided full employment.

 

Agreed

So up the minimum wage , to double what it is now .

 

Exactly, it has been proven that higher incomes for workers translates in higher incomes for the wealthy.
People will have more money to spend in their pursuit of the "good life"!

"A rising tide lifts all boats"

https://en.wikipedia.org/wiki/A_rising_tide_lifts_all_boats#

 

Higher incomes for the poor , from $15,000 per year , to $30,000 per year matters to the poor .

 

Yes and then they can finally buy a new fuel efficient car and that refrigerator to replace that old leaking unit. And afford a reasonable health insurance which insures that when you have to go to hospital for surgery and recoup for a week, it doesn't cost you your home.

 

And afford fresh foods , rather than fast food .

 

Has anybody ever given thought to the disparity in COLA (cost of living adjustment) distribution?
COLA is calculated on an actual cost increase in dollars for according to the Consumer Price Index.

The cost of living adjustment (COLA) is an increase in income that keeps up with the cost of living. It's often applied to wages, salaries, and benefits. These include union agreements, executive contracts, and retiree benefits.[/quote] How It's Calculated

https://www.thebalance.com/what-is-the-cost-of-living-adjustment-3305736

Ok now let's assume there is a general living cost increase of $600.00 p/yr and that represents 2.5 % of the Price Index Average.
Thus COLA is distributed as an increase of 2.5 % of individual income.

So a person making $20,000 p/yr receives a COLA of $500.00 p/yr, actually losing $100.00 p/yr on the actual cost of increase.
But a person making $50,000 p/yr receives a COLA of $1,250.00 p/yr , actually gaining $750.00 p/yr on the actual cost of increase.
A person making $100,000.00 p/yr receives a COLA of $2,500.00 p/yr, actually gaining $2000.00 p/yr on the actual cost of increase.
Neat huh?

Looking at this objectively, it is not a cost of living adjustment at all (which would be $600.00), but a cost of income adjustment based on percentage of how much you earn, not on cost of living adjustment (which would be $600.00) !

Automatic Cost-Of-Living Adjustments received since 1975

• July 1975 -- 8.0%
• July 1976 -- 6.4%
• July 1977 -- 5.9%
• July 1978 -- 6.5%
• July 1979 -- 9.9%
• July 1980 -- 14.3%
• July 1981 -- 11.2%
• July 1982 -- 7.4%
• January 1984 -- 3.5%
• January 1985 -- 3.5%
• January 1986 -- 3.1%
• January 1987 -- 1.3%
• January 1988 -- 4.2%
• January 1989 -- 4.0%
• January 1990 -- 4.7%
• January 1991 -- 5.4%
• January 1992 -- 3.7%
• January 1993 -- 3.0%
• January 1994 -- 2.6%
• January 1995 -- 2.8%
• January 1996 -- 2.6%
• January 1997 -- 2.9%
• January 1998 -- 2.1%
• January 1999 -- 1.3%
• January 2000 -- 2.5% (1)
• January 2001 -- 3.5%
• January 2002 -- 2.6%
• January 2003 -- 1.4%
• January 2004 -- 2.1%
• January 2005 -- 2.7%
• January 2006 -- 4.1%
• January 2007 -- 3.3%
• January 2008 -- 2.3%
• January 2009 -- 5.8%
• January 2010 -- 0.0%
• January 2011 -- 0.0%
• January 2012 -- 3.6%
• January 2013 -- 1.7%
• January 2014 -- 1.5%
• January 2015 -- 1.7%
• January 2016 -- 0.0%
• January 2017 -- 0.3%
• January 2018 -- 2.0%
• January 2019 -- 2.8%
• January 2020 -- 1.6%
• January 2021 -- 1.3%

https://www.ssa.gov/news/cola/

 

Doubling the minimum wage would result in approximately 1.3 million fewer jobs. So great for the people still working; sucks for the newly unemployed.

 

Do you mean now , October 20 , 2020 ?

Or after this pandemic resides .

 

Doubling the spending for most and increased demand for goods creates jobs. Maintaining low wages for all merely causes stagnation and no demand for goods.

 

Exactly .

And Stagnation of Hope for a better Life , Lived . By Human Beings , World Wide .