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> Take it from the rich people who have primarily hoarded all that money That's not how any of this works. Rich people generally have much less of their assets
by Tuna-Fish 6y ago
> Take it from the rich people who have primarily hoarded all that money
That's not how any of this works. Rich people generally have much less of their assets as cash or cash-equivalent than poor people. They also in general have much more debt than poor people, both in absolute values and as proportion of their net worth. (Simply because they are able to take more debt, and with the neverending low interest rates, taking more debt and investing it is basically free money.)
- core-questions 6y agoDoesn't the "hoarding money" thing only even apply if you keep your money as literal physical cash in your mattress? If it's in a bank account, it's being lent out and is working, no?
- mypalmike 6y agoAside from primary home ownership, do wealthy individuals generally borrow money in order to invest it? My financial advisors have never suggested such a strategy.
- stainforth 6y agoThose assets can be converted to cash then and redistributed.