An investment manager’s view of the 1%

January 21st, 2012 by Rick Drain

This fascinating article is courtesy of the “Who Rules America” site of UC Santa Cruz’ Sociology Professor G. William Domhoff.

quote:
“Unlike those in the lower half of the top 1%, those in the top half and, particularly, top 0.1%, can often borrow for almost nothing, keep profits and production overseas, hold personal assets in tax havens, ride out down markets and economies, and influence legislation in the U.S. They have access to the very best in accounting firms, tax and other attorneys, numerous consultants, private wealth managers, a network of other wealthy and powerful friends, lucrative business opportunities, and many other benefits. Most of those in the bottom half of the top 1% lack power and global flexibility and are essentially well-compensated workhorses for the top 0.5%, just like the bottom 99%.”

Click on the title below to see the posting:

An Investment Manager’s View on the Top 1%

 

Longsplice rope

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