Donald Trump was always enthusiastic about his work. "Historical tax relief for American people," announced US president on Twitter, after Congress had approved its tax reform shortly before holidays. It bundles drastic tax cuts for businesses and generous easing for wealthy in country. The Tax Policy Center, a liberal think tank, has calculated that 80 percent of tax cuts benefit Americans with over a million dollars in income. If you take more than 28 million dollars, you save an average of 150,000 dollars a year. A sum that is almost three times as high as country's average household income. "Ready is Christmas present," cheered tabloid New York Post, which belongs to newspaper and Trump friend Rupert Murdoch. But among billionaires, cheer surprisingly finds little resonance – quite opposite.
In run-up to vote, 400 self-declared representatives of wealthiest one percent of country wrote an open letter to members of US Congress. It said: "It is neir wise nor fair to make rich tax gifts at expense of working-class families." Tom Steyer, a hedge from California, scourges tax reform as "Robin Hood, only vice versa," and even switched to 10 million, 000-dollar TV spots in which he calls for impeachment of Trump.
It is not just sense of justice that Steyer and his allies are doing. They fear that tax reform will rapidly increase social inequality and trigger even more political upheavals. Many super-rich people obviously do not want to pay this price because y particularly value two things in USA: stability and security.
Only hope of business-friendly laws of Trump government has already made rich even richer. Since he was elected a year ago, S P 500, which is price development of 500 largest US companies, is rising almost daily. Today, with around 2700 points, it is about 30 percent higher than on election Day, November 8, 2016. The shareholders had an increase in assets of 3.65 trillion dollars. A sum that all Germans earn toger in one year. Alan Valdes, who started as an intern on New York Stock Exchange and has been working re as a trader for four decades, has never seen this before: "The records fell so fast that y got dizzy."
In addition, some wealthy people no longer know where to go with ir money. Particularly bizarre is rocket-like increase in digital currency Bitcoin (see page 22). In January, a bitcoin cost 990 dollars, in mid-December it was 18,000 dollars. In art market, unprecedented sums are also achieved. Leonardo da Vinci's Salvator Mundi was recently auctioned for 450 million dollars. Record.
This article dates back to time No. 01/2018. Here you can read entire output."Everything goes Off", analysts of investment bank Goldman Sachs noted in a report at beginning of December. The situation on markets was so shiny last in golden Twenties. And, as n, re are signs that this boom could have devastating consequences, so worried billionaires are now afraid of tax cuts and growing inequality.
While almost half of Americans, according to a survey by US Federal Reserve, could not even raise 400 dollars in cash, super-rich have been tidying up since financial crisis. According to November Credit Suisse Global Wealth Report, global assets have now reached 280 trillion dollars. That's 27 percent more than ten years ago.
The majority of se gains were secured by highest percentage, particularly wealthy of wealthy class. At turn of millennium, its share of total assets of all households amounted to 45.5 percent, today it is 50.1 percent. It is this group that is mainly responsible for hunting of records. Their members have to go somewhere with ir money and also with profits y have achieved with profits.
Date Of Update: 31 December 2017, 12:02
