2 ms·
That net worth is already pretty much 100% directed toward building these things. The net worth of the "1%" is paper wealth—capital investments in various compa
by nybble41 6y ago
That net worth is already pretty much 100% directed toward building these things. The net worth of the "1%" is paper wealth—capital investments in various companies, for the most part. It belongs to them but they use it to make things to sell to other people and then invest the resulting profits in even more capital.
If you want a more meaningful comparison, try investigating personal consumption expenditures for each income group. I'm sure consumption is higher per-capita among the "1%" but I'd be very surprised if the total were over, say, 10% of all PCEs.