Most billionaires cannot extract most of their wealth without crashing the price of their remaining assets. No doubt the gulf is still great, but it's a little smaller than the raw numbers imply.
One wonders how they can buy private jets, luxury cars, and mansions with their modest liquidity, right? It's as if they could extract their wealth over time and not all of it at once, so the remainder doesn't lose its value.
You vs. a Billionaire: An Interactive Perspective on Wealth
71–73 of 73 posts
Re: You vs. a Billionaire: An Interactive Perspective on Wealth
#72Earlier quoted context omitted.
> Every single person in America could be lifted above the poverty line with a one-time cash subsidy of around $10,000 per impoverished family (and about $7,000 for impoverished individuals). The total cost would be $170 billion, a little over 5% of the wealth currently controlled by 400 individuals. The visualization is good, but the content is ... fraught. I'm all for wealth redistribution and ending inequality, bu…
Empower the family businesses again, move power away from the super corporations. Encourage and invest in small business owners, giving them all the tax breaks while raising the taxes on the giant corporations. Basically, start recreating the middle class wealth, and then strive to bring everyone to that level at the cost of the giant corporations and mega rich.
Re: You vs. a Billionaire: An Interactive Perspective on Wealth
#73Earlier quoted context omitted.
One wonders how they can buy private jets, luxury cars, and mansions with their modest liquidity, right? It's as if they could extract their wealth over time and not all of it at once, so the remainder doesn't lose its value.
Do you have any data how much they’ve actually spent? Perhaps much better metric to use when crucifying.
https://github.com/MKorostoff/1-pixel-wealth/blob/master/THE...
Remember when Jeff Bezos sold 4+ billions of Amazon stock in 11 days, and it didn't crash? Pepperidge Farm remembers.
https://www.cnbc.com/2020/02/11/jeff-bezos-sold-4point1-bill...