The net worth i.e. assets less liabilities of American households..$100,000,000,000,000

[healthmyths]

By "millionaires" do you mean people with at least one million per year in total income? Or people with a net worth of at least a million dollars?

The net worth estimates MUST BE skewed by grotesquely inflated real estate values in certain select areas. And we've seen how sound that is.

Capitalism has failed SOME Americans - the ones who for one reason or another don't or can't take advantage of the rampant prosperity.

And the insidious problem is that there are thousands of "leaders" out there who spend all their time trying to convince people that THEY CAN'T succeed, either because of their race, ethnicity, gender, sexual orientation, religion or general fucked-upedess. And people eat it up, because it gives them an excuse for their laziness and lack of capacity...it's NOT THEIR FAULT, you see. It's the fault of the System, the Mann, Racists, Donald Trump, or whatever.

In fact, any Leftists reading the OP are spitting mad at you and anyone like you for implying that there is a lot of prosperity in American, and all one has to do to get it is to....well, GET IT.

Isn't that the entire democrat mantra though? YOU are not capable of tasking care of yourself. The government must do it. Even though you could do infinately better on your own.

Totally agree.

Case in point these same democrats are so against any mention of privatizing SS that drives them into a frenzy.
BUT we recently heard that:
The concepts of solvency, sustainability, and budget impact are common in discussions of Social Security, but are not well understood. Currently, the Social Security Board of Trustees projects program cost to rise by 2035 so that taxes will be enough to pay for only 75 percent of scheduled benefits.
The Future Financial Status of the Social Security Program

So what would happen if though any American working today under age 55 could have a choice:
A) Continue with SS as it is
B) or be able to tell SS where to put the payments... put into bank...treasures, bonds, stock market, mutual finds, etc.

So what would happen to a young worker starting out today after college with first job say paying $50,000 a year.
SS payments by employee and employer would be 6.2% each...i.e. employee deduction would be $6,200.
Assume employee never makes any more than $50,000 and stays with employer for 30 years cumulatively each paying over 30 years $186,000.
Assume employee would then be able to tell SS "put this money into XYZ mutual fund along with future payments."
mutual funds over the last 30 years. Mutual funds had a 3.66% average return.
Average Mutual Fund Return

Using an interest calculator: 30 years adding $6,200 per year with above average mutual fund return of 3.66% would mean $358,876.
And that's with no salary increase over 30 years!

What would it be if every 10 years the employee's salary increase 20% over 10 years?
$50,000/year first 10... $60,000/year 2nd 10.... and last 10 years $72,000/year.
The value would be then: End of 10 years $84,838... End of 2nd 10 years: $212,683 and at end of 30 years... over $414,000.

Now if the employee had been studious, lucky and stuck with it and chose Fidelity Magellan fund with over 40 years appreciation of 14.8%/year.
Employee would have $3,540,529!!
All because the SS let this employee tell them where to invest his/employer's SS payments!

 

[healthmyths]

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.
Americans’ Wealth Surpasses $100 Trillion

Now of course we all know and it doesn't take a rocket scientist to comprehend that stupid 1%er issue!

With 115,000,000 households that means about 1 million households.

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

U.S. wealth distribution in 2017 | Statistic

So that leaves $65 trillion divided by 114 million households or: $570,175 per household.

Name another country please where this is possible.
Remember...
A study by Fidelity Investments found that 86 percent of today's millionaires are self made and did not consider themselves wealthy growing up.
Overall, the research revealed current millionaires are, on average, 61 years old with $3.05 million in assets.
How Most Millionaires Got Rich

In 1980... 4,414 taxpayers reported $1 million in gross income;
In 2016... 10,800,000...reported $1 million...
Total Population USA in 1980 was 226.5 million.
The ratio of millionaires to population: 1 millionaire for every 51,314 Americans
1980 Fast Facts - History - U.S. Census Bureau

Total Population USA in 2016 was 326.9 million.
The ratio of millionaires to population 1 Millionaire for every 30 Americans!
U.S. Population (2018) - Worldometers

So please explain to me where capitalism has failed Americans!

Are you worth 500K?

5 times that figure.

 

[Moonglow]

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.
Americans’ Wealth Surpasses $100 Trillion

Now of course we all know and it doesn't take a rocket scientist to comprehend that stupid 1%er issue!

With 115,000,000 households that means about 1 million households.

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

U.S. wealth distribution in 2017 | Statistic

So that leaves $65 trillion divided by 114 million households or: $570,175 per household.

Name another country please where this is possible.
Remember...
A study by Fidelity Investments found that 86 percent of today's millionaires are self made and did not consider themselves wealthy growing up.
Overall, the research revealed current millionaires are, on average, 61 years old with $3.05 million in assets.
How Most Millionaires Got Rich

In 1980... 4,414 taxpayers reported $1 million in gross income;
In 2016... 10,800,000...reported $1 million...
Total Population USA in 1980 was 226.5 million.
The ratio of millionaires to population: 1 millionaire for every 51,314 Americans
1980 Fast Facts - History - U.S. Census Bureau

Total Population USA in 2016 was 326.9 million.
The ratio of millionaires to population 1 Millionaire for every 30 Americans!
U.S. Population (2018) - Worldometers

So please explain to me where capitalism has failed Americans!

Are you worth 500K?

5 times that figure.

Then the numbers are off a wee bit.

 

[DOTR]

Isn't that the entire democrat mantra though? YOU are not capable of tasking care of yourself. The government must do it. Even though you could do infinately better on your own.

It is done by both parties and yer point?

His point isn’t that hard to discern. The Democrat mantra that the government is the only thing saving you from poverty is a lie.
And to that I will add that the millionaire democrat mantra that $1000 is “crumbs” is as much a lie. If it were crumbs they wouldn’t want to keep it so bad.
Hey a thousand here a thousand there...it adds up.

What percentage did it drop you?

I dropped at 3% in tax bracket and my standard deduction doubled. Saves me many of those crumbs. Enough to support a kid in college for a semester.
Long may Mr Trump reign.

He can only reign so long...

Lots of work being done on life extension these days.

 

[AntonToo]

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.
Americans’ Wealth Surpasses $100 Trillion

Now of course we all know and it doesn't take a rocket scientist to comprehend that stupid 1%er issue!

With 115,000,000 households that means about 1 million households.

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

U.S. wealth distribution in 2017 | Statistic

So that leaves $65 trillion divided by 114 million households or: $570,175 per household.

Knock knock!

Who's there?

20 Trillion dollar national debt with trillion dollar deficits coming this or following year. Yes, that too is a liability that needs to be subtracted.

Who is your co-knocker?

2% INFLATION. 100 Trillion in 2016 buys only ~98 Trillion worth of stuff in 2017.

And that other guy?

Top 20% own 90% of wealth. So take that 114million households divided by 65T and shove it you know where.
Analysis | The richest 1 percent now owns more of the country’s wealth than at any time in the past 50 years

 

[Moonglow]

It is done by both parties and yer point?

His point isn’t that hard to discern. The Democrat mantra that the government is the only thing saving you from poverty is a lie.
And to that I will add that the millionaire democrat mantra that $1000 is “crumbs” is as much a lie. If it were crumbs they wouldn’t want to keep it so bad.
Hey a thousand here a thousand there...it adds up.

What percentage did it drop you?

I dropped at 3% in tax bracket and my standard deduction doubled. Saves me many of those crumbs. Enough to support a kid in college for a semester.
Long may Mr Trump reign.

He can only reign so long...

Lots of work being done on life extension these days.

By law is not a life extension

 

[healthmyths]

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.
Americans’ Wealth Surpasses $100 Trillion

Now of course we all know and it doesn't take a rocket scientist to comprehend that stupid 1%er issue!

With 115,000,000 households that means about 1 million households.

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

U.S. wealth distribution in 2017 | Statistic

So that leaves $65 trillion divided by 114 million households or: $570,175 per household.

Name another country please where this is possible.
Remember...
A study by Fidelity Investments found that 86 percent of today's millionaires are self made and did not consider themselves wealthy growing up.
Overall, the research revealed current millionaires are, on average, 61 years old with $3.05 million in assets.
How Most Millionaires Got Rich

In 1980... 4,414 taxpayers reported $1 million in gross income;
In 2016... 10,800,000...reported $1 million...
Total Population USA in 1980 was 226.5 million.
The ratio of millionaires to population: 1 millionaire for every 51,314 Americans
1980 Fast Facts - History - U.S. Census Bureau

Total Population USA in 2016 was 326.9 million.
The ratio of millionaires to population 1 Millionaire for every 30 Americans!
U.S. Population (2018) - Worldometers

So please explain to me where capitalism has failed Americans!

Are you worth 500K?

5 times that figure.

Then the numbers are off a wee bit.

Explain: which numbers are off...my worth, average millionaire's net worth, what?

 

[Wry Catcher]

By "millionaires" do you mean people with at least one million per year in total income? Or people with a net worth of at least a million dollars?

The net worth estimates MUST BE skewed by grotesquely inflated real estate values in certain select areas. And we've seen how sound that is.

Capitalism has failed SOME Americans - the ones who for one reason or another don't or can't take advantage of the rampant prosperity.

And the insidious problem is that there are thousands of "leaders" out there who spend all their time trying to convince people that THEY CAN'T succeed, either because of their race, ethnicity, gender, sexual orientation, religion or general fucked-upedess. And people eat it up, because it gives them an excuse for their laziness and lack of capacity...it's NOT THEIR FAULT, you see. It's the fault of the System, the Mann, Racists, Donald Trump, or whatever.

In fact, any Leftists reading the OP are spitting mad at you and anyone like you for implying that there is a lot of prosperity in American, and all one has to do to get it is to....well, GET IT.

Isn't that the entire democrat mantra though? YOU are not capable of tasking care of yourself. The government must do it. Even though you could do infinately better on your own.

Are you suggesting that equal rights and equal opportunities exist in 21st Century America? That the Congress and the Executive, as well as five members of the Supreme Court focus on the needs of all American citizens?

If so, I have a bridge for sale, and you might be interested. It spans SF with Marin County and daily attracts tourists from around the world.

 

[Wry Catcher]

By "millionaires" do you mean people with at least one million per year in total income? Or people with a net worth of at least a million dollars?

The net worth estimates MUST BE skewed by grotesquely inflated real estate values in certain select areas. And we've seen how sound that is.

Capitalism has failed SOME Americans - the ones who for one reason or another don't or can't take advantage of the rampant prosperity.

And the insidious problem is that there are thousands of "leaders" out there who spend all their time trying to convince people that THEY CAN'T succeed, either because of their race, ethnicity, gender, sexual orientation, religion or general fucked-upedess. And people eat it up, because it gives them an excuse for their laziness and lack of capacity...it's NOT THEIR FAULT, you see. It's the fault of the System, the Mann, Racists, Donald Trump, or whatever.

In fact, any Leftists reading the OP are spitting mad at you and anyone like you for implying that there is a lot of prosperity in American, and all one has to do to get it is to....well, GET IT.

Isn't that the entire democrat mantra though? YOU are not capable of tasking care of yourself. The government must do it. Even though you could do infinately better on your own.

It is done by both parties and yer point?

His point isn’t that hard to discern. The Democrat mantra that the government is the only thing saving you from poverty is a lie.
And to that I will add that the millionaire democrat mantra that $1000 is “crumbs” is as much a lie. If it were crumbs they wouldn’t want to keep it so bad.
Hey a thousand here a thousand there...it adds up.

What percentage did it drop you?

I dropped at 3% in tax bracket and my standard deduction doubled. Saves me many of those crumbs. Enough to support a kid in college for a semester.
Long may Mr Trump reign.

Good for you. Year one and two will continue to support your love for Trump and Ryan's tax bill, then, when the cost of living rises, and local taxes and fees rise, your standard deduction will begin to be less and less valuable. It's really that simple, the tax bill is a fraud, and Trump and Ryan lied by omission.

Did you notice those provision which you love so much will sunset, and those provisions which benefit global corporations will exist forever?

 

[Brain357]

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.
Americans’ Wealth Surpasses $100 Trillion

Now of course we all know and it doesn't take a rocket scientist to comprehend that stupid 1%er issue!

With 115,000,000 households that means about 1 million households.

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

U.S. wealth distribution in 2017 | Statistic

So that leaves $65 trillion divided by 114 million households or: $570,175 per household.

Name another country please where this is possible.
Remember...
A study by Fidelity Investments found that 86 percent of today's millionaires are self made and did not consider themselves wealthy growing up.
Overall, the research revealed current millionaires are, on average, 61 years old with $3.05 million in assets.
How Most Millionaires Got Rich

In 1980... 4,414 taxpayers reported $1 million in gross income;
In 2016... 10,800,000...reported $1 million...
Total Population USA in 1980 was 226.5 million.
The ratio of millionaires to population: 1 millionaire for every 51,314 Americans
1980 Fast Facts - History - U.S. Census Bureau

Total Population USA in 2016 was 326.9 million.
The ratio of millionaires to population 1 Millionaire for every 30 Americans!
U.S. Population (2018) - Worldometers

So please explain to me where capitalism has failed Americans!

Capitalism hasn't failed, but we don't have very good capitalism anymore. Look at all the corporate welfare like the Foxconn deal.

 

[candycorn]

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.
Americans’ Wealth Surpasses $100 Trillion

Now of course we all know and it doesn't take a rocket scientist to comprehend that stupid 1%er issue!

With 115,000,000 households that means about 1 million households.

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

U.S. wealth distribution in 2017 | Statistic

So that leaves $65 trillion divided by 114 million households or: $570,175 per household.

Name another country please where this is possible.
Remember...
A study by Fidelity Investments found that 86 percent of today's millionaires are self made and did not consider themselves wealthy growing up.
Overall, the research revealed current millionaires are, on average, 61 years old with $3.05 million in assets.
How Most Millionaires Got Rich

In 1980... 4,414 taxpayers reported $1 million in gross income;
In 2016... 10,800,000...reported $1 million...
Total Population USA in 1980 was 226.5 million.
The ratio of millionaires to population: 1 millionaire for every 51,314 Americans
1980 Fast Facts - History - U.S. Census Bureau

Total Population USA in 2016 was 326.9 million.
The ratio of millionaires to population 1 Millionaire for every 30 Americans!
U.S. Population (2018) - Worldometers

So please explain to me where capitalism has failed Americans!

No axe to swing either way here but can you tell us how many out of every 30 Americans in 2016 were at or below the poverty line?

 

[BluesLegend]

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

LMAO here we go again with the dumb ass liberal 'hate the rich' crap. What makes you think that 35.5 percent of wealth would even exist without the 1%? Who do you think starts businesses and generates net new wealth you moron? The left grow dumber with each passing day.

 

[healthmyths]

It is done by both parties and yer point?

His point isn’t that hard to discern. The Democrat mantra that the government is the only thing saving you from poverty is a lie.
And to that I will add that the millionaire democrat mantra that $1000 is “crumbs” is as much a lie. If it were crumbs they wouldn’t want to keep it so bad.
Hey a thousand here a thousand there...it adds up.

What percentage did it drop you?

I dropped at 3% in tax bracket and my standard deduction doubled. Saves me many of those crumbs. Enough to support a kid in college for a semester.
Long may Mr Trump reign.

He can only reign so long...

Lots of work being done on life extension these days.

Absolutely agree with that! And the other less positive news is the population replacement figure...i.e.
“Replacement level fertility” is the total fertility rate—the average number of children born per woman—at which a population exactly replaces itself from one generation to the next, without migration. This rate is roughly 2.1 children per woman for most countries, although it may modestly vary with mortality rates.Jul 31, 2013
Half the World’s Population is Reaching Below Replacement Fertility
Half the World’s Population is Reaching Below Replacement Fertility

Both factors portend economic problems in the USA specifically with Medicare/SS and that is because:
1) people living longer means more money out
2) fewer people reaching working age means less money coming in.

Solutions:
A) Up age of retirement to 70
B) allow freedom of choice with SS contributors.

 

[healthmyths]

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.
Americans’ Wealth Surpasses $100 Trillion

Now of course we all know and it doesn't take a rocket scientist to comprehend that stupid 1%er issue!

With 115,000,000 households that means about 1 million households.

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

U.S. wealth distribution in 2017 | Statistic

So that leaves $65 trillion divided by 114 million households or: $570,175 per household.

Name another country please where this is possible.
Remember...
A study by Fidelity Investments found that 86 percent of today's millionaires are self made and did not consider themselves wealthy growing up.
Overall, the research revealed current millionaires are, on average, 61 years old with $3.05 million in assets.
How Most Millionaires Got Rich

In 1980... 4,414 taxpayers reported $1 million in gross income;
In 2016... 10,800,000...reported $1 million...
Total Population USA in 1980 was 226.5 million.
The ratio of millionaires to population: 1 millionaire for every 51,314 Americans
1980 Fast Facts - History - U.S. Census Bureau

Total Population USA in 2016 was 326.9 million.
The ratio of millionaires to population 1 Millionaire for every 30 Americans!
U.S. Population (2018) - Worldometers

So please explain to me where capitalism has failed Americans!

No axe to swing either way here but can you tell us how many out of every 30 Americans in 2016 were at or below the poverty line?

Difference in perception...i.e. when I was a kid decades ago my family would have qualified at poverty level...if that standard had existed. It didn't at that time because
we never knew we were poor! We just knew we had to help in the garden, mow lawns, shovel snow...i.e. work to help our family of 6 members.

Poverty: Income and Poverty in the United States: 2016

• The official poverty rate in 2016 was 12.7 percent, down 0.8 percentage points from 13.5 percent in 2015. This is the second consecutive annual decline in poverty. Since 2014, the poverty rate has fallen 2.1 percentage points from 14.8 percent to 12.7 percent.

• In 2016 there were 40.6 million people in poverty, 2.5 million fewer than in 2015 and 6.0 million fewer than in 2014

• The poverty rate in 2016 (12.7 percent) was not significantly higher than the poverty rate in 2007 (12.5 percent), the year before the most recent recession.
• No demographic group included in Table 3 experienced an increase in its poverty rate between 2015 and 2016.
• For most demographic groups, the number of people in poverty decreased from 2015. Adults aged 65 and older were the only population group shown in Table 3 to experience an increase in the number of people in poverty.
• Between 2015 and 2016, the poverty rate for children under age 18 declined from 19.7 to 18.0 percent. The poverty rate for adults aged 18-64 declined from 12.4 to 11.6 percent. The poverty rate for adults aged 65 and older was 9.3 percent in 2016, not statistically different from the rate in 2015.

I hope my little time it took to find out what you asked, that YOU could have found out first before asking for help....but wait I should have known!

 

[Moonglow]

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.
Americans’ Wealth Surpasses $100 Trillion

Now of course we all know and it doesn't take a rocket scientist to comprehend that stupid 1%er issue!

With 115,000,000 households that means about 1 million households.

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

U.S. wealth distribution in 2017 | Statistic

So that leaves $65 trillion divided by 114 million households or: $570,175 per household.

Name another country please where this is possible.
Remember...
A study by Fidelity Investments found that 86 percent of today's millionaires are self made and did not consider themselves wealthy growing up.
Overall, the research revealed current millionaires are, on average, 61 years old with $3.05 million in assets.
How Most Millionaires Got Rich

In 1980... 4,414 taxpayers reported $1 million in gross income;
In 2016... 10,800,000...reported $1 million...
Total Population USA in 1980 was 226.5 million.
The ratio of millionaires to population: 1 millionaire for every 51,314 Americans
1980 Fast Facts - History - U.S. Census Bureau

Total Population USA in 2016 was 326.9 million.
The ratio of millionaires to population 1 Millionaire for every 30 Americans!
U.S. Population (2018) - Worldometers

So please explain to me where capitalism has failed Americans!

Are you worth 500K?

5 times that figure.

Then the numbers are off a wee bit.

Explain: which numbers are off...my worth, average millionaire's net worth, what?

The 500k you claimed in the OP

 

[Moonglow]

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

LMAO here we go again with the dumb ass liberal 'hate the rich' crap. What makes you think that 35.5 percent of wealth would even exist without the 1%? Who do you think starts businesses and generates net new wealth you moron? The left grow dumber with each passing day.

Small business hire many yet they are not wealthy like international businesses.

 

[BlackSand]

By "millionaires" do you mean people with at least one million per year in total income? Or people with a net worth of at least a million dollars?

The net worth estimates MUST BE skewed by grotesquely inflated real estate values in certain select areas. And we've seen how sound that is.

Capitalism has failed SOME Americans - the ones who for one reason or another don't or can't take advantage of the rampant prosperity.

And the insidious problem is that there are thousands of "leaders" out there who spend all their time trying to convince people that THEY CAN'T succeed, either because of their race, ethnicity, gender, sexual orientation, religion or general fucked-upedess. And people eat it up, because it gives them an excuse for their laziness and lack of capacity...it's NOT THEIR FAULT, you see. It's the fault of the System, the Mann, Racists, Donald Trump, or whatever.

In fact, any Leftists reading the OP are spitting mad at you and anyone like you for implying that there is a lot of prosperity in American, and all one has to do to get it is to....well, GET IT.

Isn't that the entire democrat mantra though? YOU are not capable of tasking care of yourself. The government must do it. Even though you could do infinately better on your own.

Totally agree.

Case in point these same democrats are so against any mention of privatizing SS that drives them into a frenzy.
BUT we recently heard that:
The concepts of solvency, sustainability, and budget impact are common in discussions of Social Security, but are not well understood. Currently, the Social Security Board of Trustees projects program cost to rise by 2035 so that taxes will be enough to pay for only 75 percent of scheduled benefits.
The Future Financial Status of the Social Security Program

So what would happen if though any American working today under age 55 could have a choice:
A) Continue with SS as it is
B) or be able to tell SS where to put the payments... put into bank...treasures, bonds, stock market, mutual finds, etc.

So what would happen to a young worker starting out today after college with first job say paying $50,000 a year.
SS payments by employee and employer would be 6.2% each...i.e. employee deduction would be $6,200.
Assume employee never makes any more than $50,000 and stays with employer for 30 years cumulatively each paying over 30 years $186,000.
Assume employee would then be able to tell SS "put this money into XYZ mutual fund along with future payments."
mutual funds over the last 30 years. Mutual funds had a 3.66% average return.
Average Mutual Fund Return

Using an interest calculator: 30 years adding $6,200 per year with above average mutual fund return of 3.66% would mean $358,876.
And that's with no salary increase over 30 years!

What would it be if every 10 years the employee's salary increase 20% over 10 years?
$50,000/year first 10... $60,000/year 2nd 10.... and last 10 years $72,000/year.
The value would be then: End of 10 years $84,838... End of 2nd 10 years: $212,683 and at end of 30 years... over $414,000.

Now if the employee had been studious, lucky and stuck with it and chose Fidelity Magellan fund with over 40 years appreciation of 14.8%/year.
Employee would have $3,540,529!!
All because the SS let this employee tell them where to invest his/employer's SS payments!

All that flows under the surface ...
It resides in the minutia of what people really don't know about themselves and their neighbors.

How many times have you heard someone bitch about "big oil" ...
While their 401k mutual fund that is stacking up dollars is heavily invested in "big oil"?

They love it when it represents dollar signs on their investments ...
They fight it when it's an issue on the television screen ...
And they don't have clue where their money is coming from because they never read the fine print.

Let the price go up at the pump and you would think you were beating them with a big stick ...
Turn around and show them their returns on their investments ... And they really like that.

.​

 

[jasonnfree]

Here's one link that contradicts what this thread is saying. The average American is deeply in debt. As more and more wealth gets transferred to the top 1/2 of one percent, and with more corporate tax cuts that began with Reagan, the average American will sink further into debt, since someone has to pay for our very expensive 'all war, all the time' policy.

How Americans Buried Themselves $13 Trillion Deep in Debt

 

[DOTR]

His point isn’t that hard to discern. The Democrat mantra that the government is the only thing saving you from poverty is a lie.
And to that I will add that the millionaire democrat mantra that $1000 is “crumbs” is as much a lie. If it were crumbs they wouldn’t want to keep it so bad.
Hey a thousand here a thousand there...it adds up.

What percentage did it drop you?

I dropped at 3% in tax bracket and my standard deduction doubled. Saves me many of those crumbs. Enough to support a kid in college for a semester.
Long may Mr Trump reign.

He can only reign so long...

Lots of work being done on life extension these days.

Absolutely agree with that! And the other less positive news is the population replacement figure...i.e.
“Replacement level fertility” is the total fertility rate—the average number of children born per woman—at which a population exactly replaces itself from one generation to the next, without migration. This rate is roughly 2.1 children per woman for most countries, although it may modestly vary with mortality rates.Jul 31, 2013
Half the World’s Population is Reaching Below Replacement Fertility
Half the World’s Population is Reaching Below Replacement Fertility

Both factors portend economic problems in the USA specifically with Medicare/SS and that is because:
1) people living longer means more money out
2) fewer people reaching working age means less money coming in.

Solutions:
A) Up age of retirement to 70
B) allow freedom of choice with SS contributors.

Let’s push abortion, homosexuality, birth control, divorce, shacking up, feminism, debt....hey look not enough children!

 

[Wry Catcher]

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.
Americans’ Wealth Surpasses $100 Trillion

Now of course we all know and it doesn't take a rocket scientist to comprehend that stupid 1%er issue!

With 115,000,000 households that means about 1 million households.

The 1 percent top-earners were in possession of about 35.5 percent of the wealth.

U.S. wealth distribution in 2017 | Statistic

So that leaves $65 trillion divided by 114 million households or: $570,175 per household.

Name another country please where this is possible.
Remember...
A study by Fidelity Investments found that 86 percent of today's millionaires are self made and did not consider themselves wealthy growing up.
Overall, the research revealed current millionaires are, on average, 61 years old with $3.05 million in assets.
How Most Millionaires Got Rich

In 1980... 4,414 taxpayers reported $1 million in gross income;
In 2016... 10,800,000...reported $1 million...
Total Population USA in 1980 was 226.5 million.
The ratio of millionaires to population: 1 millionaire for every 51,314 Americans
1980 Fast Facts - History - U.S. Census Bureau

Total Population USA in 2016 was 326.9 million.
The ratio of millionaires to population 1 Millionaire for every 30 Americans!
U.S. Population (2018) - Worldometers

So please explain to me where capitalism has failed Americans!

Capitalism hasn't failed, but we don't have very good capitalism anymore. Look at all the corporate welfare like the Foxconn deal.

For those readers who don't understand the Foxconn deal, see:

This 1 number sums up why that Foxconn deal is over-the-top bad for Wisconsin

One more slight of hand by the current Governor of WI, and his fellow travelers in the state legislature.