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Wealth of the 1% of Europe
(i.redd.it)
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this post was submitted on 11 Feb 2024
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I suppose it’s the same everywhere.. but each time Sweden gets amnesia and votes in the right wing we get raped:
M: “Hey let’s give away XXX to the private sector and let them rape the country. It will generate prosperity for everyone!”
Swedish voter: “What a great idea, why haven’t we done this sooner?!”
Sweden has worse wealth inequality than the US.
I guess this is going to depend on how you measure, right? What's the methodology?
For extra context, we have very high income taxes but none or very low wealth taxes for things like inheritance or owning stocks. Making it cheap to be rich and expensive to work.
Yep. The right really did manage to pull a fast one on Sweden.
Wealth inequality, not income inequality. https://en.m.wikipedia.org/wiki/List_of_sovereign_states_by_wealth_inequality Sweden is 12, US is 25 or something.
Ah, yeah. Gotcha. That tracks, for sure.
I‘m really surprised. I always thought that wealth in the Nordish countries are quite equally distributed. Don’t you have a very flat income difference? How it comes?
I think its because most of the flattening of the income mainly touches the 99% because the income taxation isn't that effective for owning people as they often get their money from owning stuff instead of earning a salary
Ah okay. So, Sweden managed to iron the glassfloor to the top. It isn’t possible for standard and even top performers to get to the 1% as they will always rely income with high taxation for a living. With this perspective my country (Germany) seems to be hard but it might be possible.
We aren’t much better off over here, don’t fool yourself. Don’t make the mistake of buying into the same empty promises of "yes it sucks almost everyone is poor and virtually nobody makes it out, but if i do it right I will" - no you won’t.
Chances for literally winning the lottery are higher than being a hard, honest worker playing by the rules and making it big.
I can’t underwrite your „almost everyone is poor“ I’ve been in countries where families live in houses out of cardbox. Kids with just one leg. Girls being sold. In Europe is nobody poor! If you write this, it’s a slap in the face of the poor in the south.
Textbook whataboutism.
I can’t change what other countries fail to provide for their people, nor is it my responsibility as a random citizen. And it certainly has zero bearing on my economic outlook in Germany, do you want to tell me I should shut up and take it because random third world country #637 has issues with rape and murder?
Bruh.
No, it’s about being honest and not shut out „almost everyone is poor“ in Germany. Wtf. Germany is one of the richest countries of the world
Just like it not your responsibility what your neighbour has, what your parents had, or what your children will have.
So, all that out of the way: what exactly is missing in your life - without looking around you. You talk about "making it big", in your other post. What's too small in your life? And how would something bigger make it better? A million in the bank? How would that make your life better? Would you eat more? Heat up your house to 69 °C just because you can? Buy a Bugatti? That will take you from point A to point B just like any other car, or a train.
You refuse to compare our insanely high standard of living to the rest of the world. Why do you seem to compare it to the situation of others in Germany? Why do you care?
Are you trying to defend our insane Income and wealth disparity, low social mobility?
I am fairly well educated, but I will never be able to afford a house, or even a livable apartment, not to mention providing for a family. The only way that happens is if the economy collapses or systematic changes are enforced. Why should I not complain about that?
This is a measure of wealth not income. I’m guessing large land owners?
Income is not wealth. You can't become wealthy on any income. That's the thing.
And a smaller GDP than Bitcoin's market cap (850 billion)