Forbes 400 is out.

 

Two-thirds of the wealthiest people in the U.S. added to their fortunes, boosting their average net worth by $400 million to a record $4.2 billion.

 

The combined net worth of the 2012 class of the 400 richest Americans is $1.7 trillion, up from $1.5 trillion a year ago. The average net worth of a Forbes 400 member is a staggering $4.2 billion, up from $3.8 billion, and the highest ever, as two-thirds of the individuals added to their fortunes in the past year. Another factor: the gap between the very rich and the merely rich is widening. Only two in the top 20 are poorer, and as a group they are worth $73 billion more than a year ago.

The rich keep getting richer. No surprise. This is no a good trend for the future of this country.

One of the most fun things I noted from this list....the economy may not be rebounded, but the candy business is still going strong, people are still buying Nike's, and people of Wal-Mart are making the Waltom's some serious cash!

Zuckerberg is down $8 Bill. Not so good year for him.

Dang, they missed my name again.

Is it surprising the rich get richer? There's a reason they're rich (at least most of them).

Is it surprising the rich get richer? There's a reason they're rich (at least most of them).

 

Nope, they can afford to rig the system to maximize every cent they squeeze out of it, by ethical and unethical means.

Nope, they can afford to rig the system to maximize every cent they squeeze out of it, by ethical and unethical means.

Sorry but these guys/gals aren't billionaires because they rigged the system.

Not surprising in my opinion; this will be a continuing trend in to the future.

Nope, they can afford to rig the system to maximize every cent they squeeze out of it, by ethical and unethical means.

 

You know nothing about what you are saying. Give specific examples, not just general anti-rich bull crap.

 

You do realize that these Net Worths are not piles of Gold that they are sitting on? They include investments in companies and banks. Companies that provide jobs, goods and services to everyone. Banks that provide loans to these business and also make it possible for folks like you and I to buy a homes, cars, etc. I never understood the resentment towards Rich people. I'm envious and maybe a bit Jealous of their abilities, but I don't resent them. I work hard and try to get a little bit for myself and my family. I take every tax advantage I can and I would never criticize someone else for doing the same.

I don't begrudge the multi-millionaires and the billionaires their money.

 

I just never understood why wealth derived from capital gains is taxed at a lower rate than wealth derived from, for lack of a better phrase, working as opposed to having someone shuffle your money around. I'm sure that there are valid economic reasons; I just don't know what they are. Probably because they never applied to me.

I don't begrudge the multi-millionaires and the billionaires their money.

 

I just never understood why wealth derived from capital gains is taxed at a lower rate than wealth derived from, for lack of a better phrase, working as opposed to having someone shuffle your money around. I'm sure that there are valid economic reasons; I just don't know what they are. Probably because they never applied to me.

 

I believe the thought is that it encourages investment and reinvestment. If there were a bigger penalty for taking your money out of one investment and putting in another, then the economy gets very stagnant. Money/Investment flowing freely is generally better for everyone. Not just the financial types. Have you ever sold a house? If you did (and it was before 2007), you probably made money on it. The profit you made there wasn't taxed at all? How Come? Because they know you will turnaround and invest it in more HOUSE! or something else. A House is an investment, right?

 

And you should really shouldn't look at it as "shuffling money around." Investment is not simply shuffling money, there is thought and certainly risk involved. Sure, it's not "Labor", but I believe its "Earned Income." Remember there's a whole bunch of people who benefit from that "Shuffling." Mainly the folks that handle the money and all of those processing the transactions.

I believe the thought is that it encourages investment and reinvestment. If there were a bigger penalty for taking your money out of one investment and putting in another, then the economy gets very stagnant. Money/Investment flowing freely is generally better for everyone. Not just the financial types. Have you ever sold a house? If you did (and it was before 2007), you probably made money on it. The profit you made there wasn't taxed at all? How Come? Because they know you will turnaround and invest it in more HOUSE! or something else. A House is an investment, right?

 

And you should really shouldn't look at it as "shuffling money around." Investment is not simply shuffling money, there is thought and certainly risk involved. Sure, it's not "Labor", but I believe its "Earned Income." Remember there's a whole bunch of people who benefit from that "Shuffling." Mainly the folks that handle the money and all of those processing the transactions.

 

 

I appreciate the info. Like I said; I've never really understood the system.

 

And I actually have sold a house. For $5,500 more than I paid for it. Of course, I probably put that much or more into it while I was in it.

 

This stuff really doesn't apply to me so I never learned about it.

I have no problem with the people I saw on that list. I'm like papa, though. I don't understand the way taxation of investment income works. I see the explanation, but it doesn't make sense to me.

Sorry but these guys/gals aren't billionaires because they rigged the system.

 

You're right. In most cases it's because their fathers and grandfathers and great-grandfathers did.