Most Americans have probably figured out that corporations enjoy tax code benefits that work in these companies’ favor. Through strategies like deductions, depreciation and creative accounting, many large companies pay a lower effective tax rate than the average American family. Meanwhile, the middle class often feels squeezed, and sometimes resentful, watching billionaires and businesses benefit from loopholes they can’t access. Learn More: I Asked ChatGPT What Would Happen If Billionaires Paid Taxes at t ...

“Inequality 2.0 is alive and well.”“American capitalism remains fiercely competitive, remarkably productive, resilient in the face of a thousand doomsayers—and the author of a persistent wealth gap.” https://t.co/4LLs6voXlc ...

Have you ever questioned the nature of your reality. That was one of the opening lies in the science fiction series Westworld posed to Dolores, an AI powered robotic and the main female character who later developed human consciousness. So I ask you, have you ever questioned the nature of your reality.That involves having human consciousness, understanding your identity, and asserting your self authority to write your own life story rather than allowing others to program it for you. Today, AI is evolving at ...

RT Xeer (@Xeer)hot take: 10m is definitely enough to retire in Singapore. wealth gap is real. ...

CT is a weird place. bunch of degens discussing if 10m is enough to retire without even 1m to their names. never change CT. never change.Xeer (@Xeer):hot take: 10m is definitely enough to retire in Singapore. wealth gap is real. ...

hot take: 10m is definitely enough to retire in Singapore. wealth gap is real.wassieloyer (@wassielawyer):If you think 10m isn’t enough to retire, you live in Singapore.Literally everyone I’ve heard saying this lives in Singapore. ...

Wealth gap. https://t.co/iUTEGXfUZb ...

Wealth gap ...

Economy Overview - The headline numbers of the economy look pretty good, with the stock market at record highs and more 401k millionaires than ever before [3] - The labor market shows 147,000 jobs added, which is right on average, and the unemployment rate is at 41% [4] - Inflation has been tamer than expected, with egg and gas prices decreasing, putting more money in people's pockets [5] Economic Slowdown - The economy is slowing down, with first quarter GDP growing only 05%, a significant decrease from the previous quarter's 24% [6] - This slowdown is attributed to less manufacturing, construction, and industrial production, with companies and small businesses pulling back due to tariff concerns [6] - Home affordability is a concern, with home prices at all-time highs and rising costs for buying or renting, leading to increased consumer debt and credit card APRs around 24% [7] Economic Challenges - The resumption of student loan payments is putting pressure on people's finances, leading to rising delinquencies [8] - The potential expiration of tariff freezes introduces uncertainty, with possible dramatic effects or more smoke than fire [9][10] - Cuts to subsidies, especially for lower-income individuals, Medicare, and SNAP programs, along with potential loss of healthcare, create uncertainty [11] Wealth Disparity - The widening wealth gap is a concern, as those who don't own stocks or assets like homes are being left out of the prosperity [12][13] - While half of Americans who own stocks or property are doing well, those trying to get a mortgage face rates of 66% and average home prices around $400,000 [14] - Tax cuts may have an opposite wealth effect, as those on Medicaid or SNAP may contribute less to the economy due to a lack of surplus [15][16]

Economic Cycle & Competitiveness - Leading countries' increased wealth leads to higher labor costs, reducing competitiveness compared to countries with lower labor costs [1] - Other countries imitate leading powers' methods and technologies, further diminishing the leading power's competitive edge [1] - Increased wealth leads to decreased work ethic, focus on leisure, and potential decadence [2][3] - Generational shift from wealth creators to inheritors results in less resilience and increased vulnerability [3][4] Financial Vulnerabilities - Prosperity leads to increased risk-taking and borrowing, creating financial bubbles [4] - Reserve currency status encourages excessive borrowing, leading to large debts with foreign lenders [6] - Short-term spending power is boosted, but long-term financial health and currency value are weakened [7] - Borrowing sustains power beyond fundamentals, financing overconsumption and military conflicts [7] Social & Political Implications - Wealth gaps widen due to the rich reinforcing their power through privileges like better education and political influence [5] - Growing wealth inequality leads to resentment and a perception of unfairness, potentially causing conflict if living standards decline [5][6]