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I don't understand the inclusion of wealth inequality stats. How do rich people making more money affect the "average" American? The idea of forcing an upper li
by frockington 8y ago
I don't understand the inclusion of wealth inequality stats. How do rich people making more money affect the "average" American? The idea of forcing an upper limit on wealth is the exact opposite of the American system.
- refurb 8y agoExactly. If a person is making $50k in the US and the equivalent person $40K in another country, why would they want to live in the 2nd country just because inequality is lower?
- petermcneeley 8y ago"How do rich people making more money affect the "average" American" Because we live in a world where some things are effectively finite. So the relative wealth of other people does indeed have an affect on what you can afford. This is like an econ 101 idea.
- frockington 8y agoMost of Jeff Bezos (and other rich people) money will be invested. These investments include government bonds, stocks, corporate debt etc. These investments will likely lower costs by providing liquidity to markets and funding for future innovations
- petermcneeley 8y agoThat is effectively the growing pie argument which is great however if the inequality grows faster than the pie you are left with a smaller relative wealth which means you will be at a loss when it comes to any finite resource.
- molf 8y agoInequality is not a measure of how much money rich people make.
- frockington 8y agoRight, its a comparison of the income between the rich and the poor. I still don;t see how it is relevant. Who cares how much Elon Musk has vs the drug addict on the street? Neither of those are relevant for the average American