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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Today, NVDA's market cap reached 5 Trillion dollars, there are a lot of people who have made tons of money off of NVDA, myself included. However, as I was reading the NVDA reddit forum, I was wondering that we have 2 classes now, one class of people who have the funds to invest in the market and make money and the others who not only can't participate in the stock market AI boom but also are losing their jobs to AI. The situation as it currently stands is unsustainable, I am not hearing any properly thought out arguments as to how do we plan to managing disruption to society on such a large scale.

It's really the tale of two cities and that did not end well for the haves. I am a naturalized citizen, I left my country because middle class in America was solid and strong, it hurts me to see that what I left behind is now becoming the reality here. One one hand people are losing access to food stamps or losing jobs, on the other hand people making lots of money in stock market or in other recession proof careers, the gap is widening and it's heartbreaking. Americans elected to put billionaires in charge of the economy and their future, what could go wrong?

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I’m a US citizen who spend the first part of my life in a country with an incredibly large and strong middle class… it’s been sad for me to see the U.S. killing its middle class off.  The masses of the poor and very poor are increasing.  Millions are one or two paychecks away from a food bank.

Meanwhile there are no limits for the well off, also a very large group.  We have extravagant and expensive places, and people are paying for it, they have made so much money over the last decade.

The forward march of AI, and robotics, the inability to leverage debt like in the past, and the increasing exclusion of the middle class from higher education is already here.  [b]The biggest tax burden is shouldered by the middle class, too, and that situation is worsening in many localities.[/b]   Soon it is just going to be the poor and the rich.

It’s not looking good, and I’m honestly not sure what can be done, and doubtful the will is there for a drastic change of course - that’s what it would take to save the middle class. [/quote]

I agree with much of what you say, but this comment is not true.  The top 1% of earners pay 40% of all taxes.

A massive problem though is that while the top 1% pay a large share...the top 0.1% do not because they have much of their wealth tied up in stock and other assets which are only taxes when capital gains are realized.  They can do things like borrow massive amounts against this stock tax-free...and even tax an interest deduction on the borrowing.  It is also worth it to this group to pay tax folks big $$$s to set up all kinds of tax-avoidance schemes.

You may not feel sorry for an investment banker or BigLaw partner making $1MM+...but that's not enough money to engage in the various schemes above and it's still W2 income...so they pay the taxes.[/quote]

The top 1% paying 40% is not a burden. They can afford more.

Burden is a measure of tax relative to income. [/quote]

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