Are you rich? Some Americans are. They are billionaires and they own a lot. Get this: By the start of 2021, the richest 1 percent of Americans held 32 percent of the nation’s wealth, its highest level since these records began in 1989. Meantime, the bottom 50 percent held just 2 percent of the nation’s wealth. Here’s another lopsided stat: 54 percent of all stocks are owned by that 1 percent, and much of the rest by the next 9 percent. We receive this news from Karen Petrou, the managing partner of Federal Financial Analytics. Petrou notes that, despite the economic blow to our economy because of COVID-19, the rich are getting even richer. Since the start of 2020, the bottom 50 percent gained $700 billion in wealth. But in the same period, the richest 1 percent gained $10 trillion.

Now let’s look at that 1 percent. According to Forbes magazine, as of March the U.S. had 492 billionaires, the most of any country. It also had the most newcomers with 50, and women with 54. China had the second most billionaires with 152, while Russia was third with 111. Among the states, California is first with 124 billionaires, New York with 93 and Texas with 48. But let’s not call to defund the wealthy, rather we should follow the advice of Joseph P. Kennedy, father of John F. Kennedy, who said, “Don’t get mad, get even.” Change that to, “Don’t get mad, get equal.” If you are not one of the 48 fat cats in Texas, then listen up for I shall tell you how to join the club.

Lynn Ashby is a Houston-based columnist. Contact him at ashby2@comcast.net.

Recommended for you

(1) entry

PJBM626

Or you can be like the Biden family. Use your political influence to fleece Millions from Ukraine, Russia and China

Climate change has occurred since the beginning of time. How about a new twist on the climate. Read Gods word to the Hebrews about what he will do when they negate and rebel against him. They incurred droughts , famine , slavery , displacement, floods, fires etc. We have slaughtered 63 million of his creation. He said those who have innocent blood on their hands will face my wrath. We welcome to his wrath

Sign the guestbook.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.