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I think if you cut everyone's income of fiat currency by half, the effect is not that everyone is 50% poorer. I think if you cut everyone's disposable income of
by nknighthb 13y ago
I think if you cut everyone's income of fiat currency by half, the effect is not that everyone is 50% poorer. I think if you cut everyone's disposable income of fiat currency by half, the effect is not that they can afford 50% fewer luxury goods. And I don't think any of the uber-wealthy sit around and think "You know, I was going to make an extra billion in the market, but since I'd have to give up 20% to capital gains, I'll just stick all my money in a non-interest-bearing account instead.".
- pandaman 13y agoJFYI - if you take every US billionaire's (all 400+ of them) money (about 1.9T) and split it among everyone in the US (300M) you get about 6300 dollars per person. It's not a lot of money. Might pay your rent and utilities for a year. And then it's gone. It's not their income, it's their whole net worth. So I'd stop fantasizing about money of uber-rich. There is not that much and it does not matter. What matters is the people who are actually paying the bulk taxes and making investments.
- nknighthb 13y agoI'm not "fantasizing" about anything. I'm familiar with those numbers, thank you. They change nothing. Nothing I've said even depends on or has any direct relation to them.