According to a survey of the world’s wealth, during the age of Obama from 2010-2016, the rich have gotten richer and the poor, far poorer.
Obama and any Democrat doesn’t understand how capitalism works. In a free market, the rich redistribute their wealth voluntarily. They buy stuff. They invest. In Obama’s economy, there’s no incentive to buy and invest because his regulations choke business and make IT NOT worth the investment. This is why Apple’s sitting on a larger cash reserve than the US Treasury has. They have no reason to spend it.
The world’s poorest have gotten, you got it, poorer, as those adults who were worth less than $10,000 in 2010 had a combined net worth of $8.2 trillion, a number which has since declined to $6.1 trillion in 2016 despite a half a billion increase in the sample size. The same goes for the layer right above, also known as the “middle class.”
In a Credit Suisse Report revealed that the middle classes lost ground since 2010.
The middle classes took a huge hit between 2010 and 2016. Citizens worth between $10,000 and $100,000 have shrunk from the 2010 number of 1,045 million people (or 23.5 percent of the world’s population) to the much lower number of 897 million (18.5 percent of the people) this year.
Here is a graphic of 2010 numbers:
And here is a graphic of 2016 numbers
In capitalism the rich become powerful. In socialism the powerful become rich.
Examples:
Fidel Castro net worth – $900 million.
Hugo Chávez daughter of Venezuela net worth – $4.2 Billion.
Kim Jong Un net worth forbes – $5 Billion
The Hillary Clinton net worth – $31.3 million
Did you ever notice how the corrupt socialists who claim they are working for the people — feather their own nests first?
And the UN wants this for the whole world….