Richest Americans’ net worth up 13 percent. Maine median income falls. Poverty rises to 14.1 percent in 2011 from 12.9 percent in 2010.
My own income has dropped 12 percent from last year, that is, providing I’m not laid off, which is possible.
Microsoft’s Bill Gates is in the top bracket of Forbes richest Americans list.
Here’s why. Microsoft stock hasn’t increased or decreased much in value for the last few years, yet it’s still rated as a buy stock, meaning it’s undervalued and should go up.
So we 401k-IRA-mutual fund blue-collar or white-collar workers buy the stock.
Microsoft profits go up, but Gates and company executives pocket the profits and the stock stays flat.
An estimate by the top three stock ratings companies for a $10,000 investment in Microsoft for 10 years results in a $9,000 return — a loss of $1,000.
People who still think trickle-down economics will work should read this again.
Barry Noyes
Hartland
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