[Marxism] Good news for coupon clippers!

[Duane Roberts <duaneroberts92804@xxxxxxxxx>]

Sorry, but the "good news" I'm talking about here
ain't really for the millions of hardworking folks who
regularly get out a pair of scissors and cut coupons
out of their local newspapers to save a few bucks here
and there on their grocery bills.

The "good news" I'm referring to is for that portion
of the American ruling class that lives by clipping
coupons attached to municipal bonds, corporate
securities, and other other investments that sap the
surplus value out of those same hardworking folks!

According to the recent issue of Forbes magazine,
"which today released its annual ranking of the 400
richest Americans", the ranks of these kinds of
"coupon clippers" have been multiplying like rabbits!
There are more billionaires than ever before!

And the "good news" is that Senator John Kerry is on
that list! So if that dumb draft dodger from Crawford,
Texas is trounced by the real war candidate in the
November election, the "coupon clippers" will get one
of their own in the Oval Office! He's the real deal!

Sincerely,

Duane J. Roberts
duaneroberts92804@xxxxxxxxx



http://www.smh.com.au/articles/2004/09/24/1095961823295.html

Billionaires club grows
September 24, 2004 - 9:22AM

It looks like the US billionaire's club isn't quite as
exclusive as it once was.

There are now 313 billionaires in the United States,
the largest number ever and a huge jump over the 262
counted last year, according to Forbes magazine, which
today released its annual ranking of the 400 richest
Americans.

The combined net worth of the 400 rose $US45 billion
($A63.82 billion) and reached $US1 trillion ($A1.42
trillion) this year for the first time since 2000,
before the dot-com bust wiped out billions of dollars
in wealth.

The biggest billionaire of all was again Microsoft
Corp founder Bill Gates, whose $US48 billion ($A68.07
billion) in estimated wealth was up $US2 billion
($A2.84 billion) from 2003. Gates was again followed
by investor Warren Buffett with $US41 billion ($A58.14
billion), the list's biggest dollar gainer with a $US5
billion ($A7.09 billion) increase, and Microsoft
co-founder Paul Allen, who held the No 3 spot although
his net worth fell $US2 billion ($A2.84 billion) to
$US20 billion ($A28.36 billion).

Members of the Walton family, whose fortune comes from
Wal-Mart Stores Inc, again swept spots four through
eight, with each having estimated wealth of $US18
billion ($A25.53 billion).

The only tweak in the top 10 from last year came from
Dell Computer Inc's Michael Dell and Oracle Corp's
Lawrence Ellison, now No 9 and No 10 respectively
after swapping places from 2003. Dell Computer stock
has weathered the tech slump relatively well over the
past year, giving Michael Dell a net worth of $US14.2
billion ($A20.14 billion). Ellison, whose stock has
suffered, had $US13.7 billion ($A19.43 billion) in
holdings, a drop from $US18 billion ($A25.53 billion)
last year.

There are 45 new names on the list, including Google's
Sergey Brin and Larry E Page - also the youngest
members of the 400 at 31. The two tied for No 43 with
$US4 billion ($A5.67 billion) each after their
company's stock went public in August.

Forbes senior editor Peter Newcomb attributed the
overall gains in the list to the improving economy, as
well as a good year in the financial sector and
industries including food and wine.

Casino mogul Steve Wynn, who climbed to No 215 from No
377 last year, saw the largest percentage increase in
wealth - a 100 per cent jump to $US1.3 billion ($A1.84
billion) from $US650 million ($A921.79 million). Last
year's biggest dollar gainer, Amazon's Jeff Bezos,
received the less-coveted title of biggest dollar
loser this year with an $US800 million ($A1.13
billion) drop.

Donald Trump's net worth edged up $US100 million
($A141.81 million) to $US2.6 billion ($A3.69 billion),
although his casino empire is in bankruptcy
proceedings. But Trump slipped three spots on the
list, falling to 74 from 71.

Returning to the list after a year's absence was
Teresa Heinz Kerry, wife of Democratic presidential
nominee John Kerry. Teresa Heinz Kerry's $750 million
in wealth tied her for last place.

Fifty-four people dropped off the list from last year,
including such notables as Disney's Michael Eisner,
BET's Robert Johnson and Monster.com's Andrew
McKelvey.

The 400 includes 51 women - up just one from last
year, but the average net worth of the women is $US2.8
billion ($A3.97 billion), higher than the list's
average of $US2.5 billion ($A3.55 billion).

Only 50 names remain of the original 400 from the
list's debut in 1982. While some died or divvied up
their assets, more than half were simply surpassed.

And while New York City still claims the most 400 list
members per city with 38, the state of California,
with 98 members, again outdistanced the state of New
York, with 49.

"There's been a huge shift from east to west, and that
trend is not slowing down at all," Newcomb said.

Forbes compiled its list by estimating the value of
stock and other assets such as real estate held by the
wealthiest Americans, Newcomb said. Forbes used the
stock prices of publicly held companies as of Aug. 31;
for privately held companies, the magazine estimated a
fair market value based on the stocks of their
publicly traded peers.

If the economy continues its upward trend, it's likely
the 400 will grow even wealthier, Newcomb said,
adding, "It won't be too long before our entire list
consists of billionaires."

AP



                
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