October 22, 2019. Last year during Sept-Dec we saw significant declines in the markets. But they have been in an upward trend all year. And the Oct-Dec period is usually good (despite last year’s swoon). So we anticipate further gains.
Over the last few days we had been thinking about a new BUY for the Core Portfolio. But in the end we decided it wasn’t the quality that we like. So we remain a little higher in cash than usual awaiting any new issues that might appear. For now we are doing nothing.
Albaquerque residents confirmed (during our recent visit) they are seeing huge numbers of California residents MOVING to New Mexico. Evidently you see more CA license plates than ever before.
Wow whack-job ultra liberal nut case Bernie wants to tax rich at almost 100%. You go Sanders lol.
If Bernie Sanders did win the U.S. presidency, it could prove bad news for U.S. billionaires. Elizabeth Warren is planning to levy taxes of up to 62 percent on the country’s wealthiest people but Sanders’ proposals go much further. That’s according to a new interactive website developed by Emmanuel Saez and Gabriel Zucman from the University of California, Berkeley which shows presidential candidates’ tax plans by income group.
The data shows that while Sanders would tax the majority of income groups at a lower rate than the current tay system, it starts to increase dramatically when it comes to the top 1 percent of earners. It doesn’t stop there and the country’s 400 wealthiest individuals would have to pay 97.5 percent tax compared to the current 23.1 percent – bad news for people like Jeff Bezos and Bill Gates who would pay approximately $9 billion and $8.5 billion this year respectively
10 percent of the richest people in the United States own almost 70 percent of the country’s total wealth. As of June 2019, the top 10 percent held 69.4 percent of total U.S. net worth (that is the value of all assets a person holds minus all their liabilities).
The top 1 percent held about half of that wealth – 32.4 percent, while the next 9 percent held approximately another half at 37 percent. The bottom 50 percent of U.S. residents only held about 2 percent of all of U.S. wealth. As recently as 2011, that number was as low as 0.2 percent, caused by the downswing of the Great Recession.
Looking the development of U.S. wealth distribution since 1989, the rich have in fact gotten richer, with the top 1 percent expanding their wealth share from 24 percent to 32 percent. The next 9 percent has remained steady at 37 percent while the 50-90 percentile has been holding less wealth, 29 percent in 2019 – down from 35 percent in 1989. The bottom 50 percent, after the recession setback, have only now recovered to pre-recession levels. GO TO ARTICLE