"Whether money is good" can not be measured only by the amount of income

byfreestocks.org

"Revenue" is used as one of the indicators for human wealth, but it is only one fragment, said Gil B. Manzon Jr, Associate Professor of Accounting at Boston University. The money earned is to accumulate, because there are money that inherited from the family besides what you earn. Mr. Manzon explains the economic disparity of the United States from the viewpoint of 'accumulated wealth' rather than income.

How rich are the rich? If only you knew
https://theconversation.com/how-rich-are-the-rich-if-only-you-knew-89682

The fact that "there is savings" and "wealthy" has a great influence on the quality of life of people. How much accumulated wealth affects the decision to invest in education, comfort, how long to invest for the old age, and the stresses felt for expense such as "breakdown of the water heater" and "sudden medical expenses" also change It is because it comes.

byFabian Blank

Conservative think tank "Hudson Institute" in 2017ReportIs paying attention to such "wealth", and as of 2013, 62% of all US assets were owned by 5% of the wealthiest US citizens. 30 years ago, the top 5% owned property was 54.1%, so the proportion of property held by the remaining 95% people has decreased from 45.9% to 37.5% in the past 30 years . In addition, the median value of the upper middle class asset whose average annual income is 633,400 dollars (about 86 million yen) is seven times higher than the middle class asset whose average annual income is $ 96,500 (about 10 million yen) , And the greatest gaps are occurring in the past 30 years. Furthermore, economistsEmmanuel SaezMr. orGabriel ZucmanIn his research, Mr. noted that in 1979 it was only 0.01% in 2012, compared with 7% who control the world's 22% wealth.

However, looking at income data only, another thing will be visible. Money earned by the top 5% of the households in the United States in 2013 is 30% of the income of the whole of the United States, which is different from the word "Top 5% holds 62.5% of all American wealth" It is. It is not about how much income it is, but how much it accumulates to people with limited wealth is greatly related to economic disparity.

Indeed, the richest 5% household in the United States had a wealth of 91 times the median. This was the biggest disparity among 18 developed countries, the disparity in the Netherlands which was second in the world was less than half of the disparity in the United States.

In this regard, Mr. Manzon sees that the tax reform bill "Tax Cuts and Jobs Act of 2017" signed by President Trump in December 2017 encourages accumulation of wealthy wealth and exacerbates disparity.

"Tax Cuts and Jobs Act of 2017" increased the standard deduction, reduced the maximum marginal tax rate from 39.6% to 37%, drastically raised inheritance tax deductions, 35% corporate income tax It lowered the maximum tax rate of 20%.

As a result, households with the bottom 20% of income will average taxes for 40 dollars a year (about 4300 yen), while the top 20% will be low for $ 5,420 (about 578,000 yen). Especially the top 0.01% said it is tax reduction of $ 69,202 (about 6,600,000 yen). Also, by research, the benefit of lowering corporate tax rateGoing to the wealthy groupAnd it is also shown that wealth will accumulate beyond generations by inheritance tax reduction tax, and the disparity of the new tax system will be expected to increase more and more.

bySharon McCutcheon

The enactor of the law states that the inequality does not expand because the money that the wealthy people did not pay will flow to other American households, but it is known that the opposite conclusion will come out in previous studies I will. It is believed that making tax cuts cut money into the wealthy people does not encourage economic growth, deprives poor people of educational opportunities and shortens life expectancy.