- Feb 2011
- Amelia, Virginia, USA
You do realize that Bezos doesn’t have a Scrooge McDuck money bin? The bulk of that “net worth” is in stock, I.e. unavailable to Mr. BHere is a good summary of Reaganomics:
Sam Walton, the founder of Walmart, according to the Forbes ranking of 1982, was the worlds richest person with a worth of $670 million.
Today, Jeff Bezos is the wealthiest person in the world with a net worth of $136.1 billion. The latest Forbes ranking of the richest 400 Americans (that is only Americans) cuts off at $2.1 billion.
In other words, since the start of Reaganomics the wealth of the richest person has increased 200 times in 36 years and the poor chap who is only the 400th richest American is still three times greater than that of the worlds richest person in 1982. Walton's 1982 money is so far off the list that it is not even humorous!
Do you think that your net worth has increased by a factor of 200 in the past 30 years? If a similar economic multiplier has been in effect for a longer period, then the wealthiest American in 1950 would have been worth a piddling $3.5 million! That is the effect of Reaganomics, the rich got richer and the working people got ? ? ? !