The way Republicans are whining about taxes, you’d think that the people in the investor class were actually seeing their incomes reduced, right? Wrong. The picture Republicans are painting as it relates to the *job creators* isn’t rooted in reality.
The richest people in the world, not just America, are seeing historic gains in income. Even though all we hear about is how Europe is attempting to soak the rich, France especially, with its proposed 75 percent tax, and how America can’t follow suit, the truth is that the rich are doing far better than any other economic class.
According to Bloomberg, “the richest people on the planet got even richer in 2012, adding $241 billion to their collective net worth, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 100 wealthiest individuals.”
The Los Angeles Times reports:
“Last year was a great one for the world’s billionaires,” said John Catsimatidis, the billionaire owner of Red Apple Group Inc., in an email written poolside on his BlackBerry in the Bahamas. “In 2013, they will continue looking for investments around the world — and not necessarily in U.S. — that will give them an advantage.”
Amancio Ortega, the Spaniard who founded retailer Inditex, was the year’s biggest gainer. The 76-year-old tycoon’s fortune increased to $57.5 billion, a gain of $22.2 billion, according to the index, as shares of the retailer that operates the Zara clothing chain rose 66.7%.
In addition, people who make money without working, meaning those whose primary source of income is from the stock market, saw their income soar in 2012 as well. So although the working people around the world were forced to face austerity and budget cuts, the rich just got richer. As always, the rich get richer and the poor get poorer.