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Rich people spend much less of their money on stuff than poor people do. Another thousand to a millionaire goes on the pile. Another thousand to a single mom go
by robotresearcher 9y ago
Rich people spend much less of their money on stuff than poor people do. Another thousand to a millionaire goes on the pile. Another thousand to a single mom goes on kids' shoes and car repairs.
- winstonewert 9y agoNobody throws their money into a pile. Rich people predominantly invest their money which is still paying people to perform work, just like repairing shoes and cars.
- deleted 9y ago[deleted]
- robotresearcher 9y agoYes. They invest it. Not spend it as you claimed above. And while both keep money moving, they have very different effects on the spender/investor.
- winstonewert 9y agoYes, "spent" was the wrong word. All I'm saying is that the money will be moving, and still providing employment.
- djrogers 9y agoShareholders aren’t all ‘rich people’ - pension funds, insurance funds, and regular old retiremt funds all hold a lot of stock.
- Mz 9y agoPeople who have no hope of ever retiring from their low wage job that they live in fear of losing to automation might count anyone with a pension plan/retirement fund access (and even insurance) as rich.