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they are comparing net worth, and even in america most people are worth 0 (or less). so yeah, lowly me is worth more than half a billion people, but their comb

by autokad 11y ago

they are comparing net worth, and even in america most people are worth 0 (or less). so yeah, lowly me is worth more than half a billion people, but their combined wages (even minute) would dwarf mine. but its not like you could take the 1%'s wealth and give it to everyone else and it would make any meaningful impact. even if you took the top 10 richest people in the world and gave it to every person in just america, thats only about 1600$/person. They'd still be poor and there'd still be a richest 1% and apple would have sold a lot more iphones.

Gustomaximus 11y ago
> Even in america most people are worth 0 (or less) Wrong. In the US only about 4.1% of people in US have negative net worth (wiki stat). The rest with debt such as mortgages and the like have assets against this debt so while they owe the bank $300k type thing they have a $500k assets against this. > even if you took the top 10 richest people in the world and gave it to every person in just america, thats only about 1600$/person. They'd still be poor and there'd still be a richest 1% There will always be a richest 1%. Also ideally in a redistribution sence you wouldnt give to everyone, you'd redistribute to the bottom X%, and this would drastically change the $1,600 figure oyu quote (I'll trust your maths). And don't be distracted form the problem being addresses here is how much that 1% (or far fewer %) own of a nations wealth, not that there is a 1% class. It's not just the money either, extreme wealth can give influence and have other negative effects e.g. power within the political system, unproductive hoarded capital in a nation, and ability to monopolies by buying assets etc.
- autokad 11y ago
  you might want to fact check, about 50% of the US has <=0 net worth. if you sent the top 1 % to the death camps, by the laws of math, there will be a NEW top 1%. and guess what? because of my statements above, they would still be exponentially richer than the bottom.

by autokad 11y ago

Gustomaximus 11y ago

> Even in america most people are worth 0 (or less) Wrong. In the US only about 4.1% of people in US have negative net worth (wiki stat). The rest with debt such as mortgages and the like have assets against this debt so while they owe the bank $300k type thing they have a $500k assets against this. > even if you took the top 10 richest people in the world and gave it to every person in just america, thats only about 1600$/person. They'd still be poor and there'd still be a richest 1% There will always be a richest 1%. Also ideally in a redistribution sence you wouldnt give to everyone, you'd redistribute to the bottom X%, and this would drastically change the $1,600 figure oyu quote (I'll trust your maths). And don't be distracted form the problem being addresses here is how much that 1% (or far fewer %) own of a nations wealth, not that there is a 1% class. It's not just the money either, extreme wealth can give influence and have other negative effects e.g. power within the political system, unproductive hoarded capital in a nation, and ability to monopolies by buying assets etc.

autokad 11y ago
you might want to fact check, about 50% of the US has <=0 net worth. if you sent the top 1 % to the death camps, by the laws of math, there will be a NEW top 1%. and guess what? because of my statements above, they would still be exponentially richer than the bottom.