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this post was submitted on 26 Aug 2023
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Starts off with median income and then switches to wealth. These aren't the same things.
Edit. Lol, check out the idiot counter
You didn't scroll as far as the "total earnings in your lifetime" and "total earnings of a doctor in their lifetime", then, I take it.
Total income is not wealth either.
Sad cunts moaning that life isn't fair is soooo edgy.
Yeah, it's the lifetime theoretical reward for highly skilled work vs what someone has right now.
You might think "that's just on paper", but cut it by 10 and it's still a nonsensical comparison. The scale is insane
It's a moon base built ASAP. It's build a floating country in the Atlantic the size of Delaware. It's buy a prefab house for everyone in the US who is renting or homeless. It's give everyone in the world a plane ticket to anywhere they want, round trip. It's build a maglev train network across a continent. It's wake up every day, go anywhere, and buy a new house at such an insane price the existing owner would agree to leave within the hour. It's build something the scale of the Washington monument at every rest stop across the US
These aren't things that would use up the wealth, these are things individuals could do, then go on to live the most extravagant possible life. Sure, a lot of these things would require careful planning and take decades if you actually wanted to do them, but that's the scale we're looking at - it's choose an issue and affect global change kind of money.
Yeah, wealth, income, and lifetime projected income are all very different things, it's apples and oranges. Except it's more like a single apple against every orange ever eaten - the sheer difference in scale makes any comparison meaningless. Simply spending their wealth, in any way, would drastically change the lives of countless people for the better
If they spent their 'wealth' they'd have to convert their assets into cash, making it income, their wealth is shares in the companies they built. If they sold their shares the prices would tank
Those companies employee millions of people who receive income and pay taxes on it
A top band Amazon dev is earning 1m a year...
Regarding the last point: so it will take said dev just another 185 thousand years to get to Bezos level
Regarding the first, there is a link to explanation about why this is not correct in the infographic
They also get stock options regularly and dividends...plenty of people have started successful businesses after gaining sufficient wealth.
So, if we convince billionaires to sell all of their company slowly it'll all be fine? That's your logic?
A, why the fuck would they do that?
B, the shareholders via the board make the decisions, you think they'll be happy with a CEO who has no skin on the game? And would have to be compensated by fuck tons of cash, which would hurt the business
My logic is that not every "successful business" is worth billions. And maybe there's sense in doing something with ones that are, like split them into several businesses that are not owned by a single person
Definitely. Regulators with no teeth and revolving doors for those with power and influence are the real danger.
You're not that bright, are you?
Otherwise you might have known that repeating something that is blindingly obvious to everyone and also completely besides the point is not an effective counter-argument.
Fuck off poor
Brilliant, such wit
You really think you're tough and right about anything, don't you?
You should be on stage with jokes like this
Preferably one with a trap door
Still more clever than you ever will be and I don't have to go on a cross-community scavenger hunt to find out ๐คท
Nothing says your smart like claiming to be smarter. Lol
I just picked your first lame post, and I didn't have to look far ๐คก
Never said I'm smart, just that I'm more clever than you are. I'm also faster than a garden snail and better at high jump than an elephant, doesn't mean I'm training for the Olympics.
Also, if you had been paying attention, you'd have noticed that it was posted in the Dad Jokes community for intentionally lame jokes and as such not a measure of me trying to be clever ๐
Why do you think you're smarter than me?
I said more clever. You'd know the difference if you were smart ๐
What's your IQ?
Dunno, haven't measured it since I found out a couple decades ago that it's not so much a useful tool for assessing intelligence as something invented by and for insecure people with very specialised knowledge to use as a combination status symbol and weapon ๐คท
So what was it when you did lol?
I got tested as a child, so no idea, but I'd guess the teachers were insecure and used specialised knowledge as a status symbol and weapon, LOL
Why are you continuing to insult me by saying I'm stupider than you? Sounds pretty weak and insecure to me!
In many cases, yeah. I'm generally very pro-teacher, but that doesn't mean that there aren't any bad teachers out there stubbornly clinging to debunked systems ๐คท
Because you keep asking for clarification as if I wasn't being crystal clear the first time. I'm just having fun humouring you while also mocking you ๐คท
Your constant hounding me about whatever I could possibly mean by calling you neither smart nor clever? Yep, sure does.
Mate, your first comment to me was an insult.
So I'll end it with the same.
Peak Dunning Kruger effect
An insult AND an explanation of why the insult was accurate.
In contrast, your first comment to me was "fuck off poor"
Look, I found a picture of you!
Lol, wealth and income are different things. Besides the point of what? They're not the same, cretin.
It wasn't a counter argument, you fucking tool.
But keep doubling down, it's like inception with an idiot.
Congratulations on stating the blindingly obvious a THIRD time, demonstrating that you're incapable to learn from your mistakes.
They ARE intimately connected, though. According to everyone and everything except for US tax code written by and for the mega-rich themselves, wealth is a result of income, cretin.
What was it, then? What is your reason for repeatedly stating what everyone always knows, if not to support some kind of point against the fact that extreme wealth and income concentration is a problem?
I'm not the one that keeps repeating the same blindingly obvious statement again and again, apparently hoping that it's going to be super poignant or at least a tiny bit relevant to some secret point THIS time ๐คฆ
Lol. Exactly you fucking moron. So it's already been taxed. So if I invest my taxed income to create wealth, which I'll get taxed on again if I convert to income, or I die and then it'll get taxed again. Somehow that's bad?
Just because you're poor and want what others have doesnt make you superior and morally correct, it just makes you poor like the other 99.9%, and envious to boot. Lol! ๐คก
Lol, I can't believe this is the point you condescendingly make over and over, yet don't understand how wealth and income pay for all the public services... Twat.
๐ฅฑ We're done here. If I wanted all of the stupidest right wing talking points yelled at me by someone very angry clearly compensating for something by claiming that every else is the idiot, I'd turn on Faux News ๐
U came at me bruv.
Don't like it, don't start it.
PS, no one who matters gives a shit about your 19th century ideology in the 21st.
I said we're done here. If I had known you were THIS stupid, I'd never have engaged in the first place. There are tens of millions of idiots using the exact same garbage talking points, none of them worth my time.
Engaged?? Is that what you call it?
So it's not just me, you're an arsehole to everyone you disagree with?
Got it
Nope. What part of "we're done here" is too difficult for you?
Let me be more obvious: stop excreting words at me
Ah, one of those have to get the last word kind of people, GG
Damn bro you got them good. Great contribution to the discussion. Thanks.
The irony
Whooooosh.
Do you realize, that that makes it even worse?
It's just not comparing like with like.
If you earn 10m over your lifetime, spend 3m on living, buy a house for 1m, pay 1m into a index linked pension you'd end up with wealth as well as income. I.e. > 10m
That's why it's always important to compare like for like.
Wealth is not income, income can create wealth. Wealth can create income, they are still not the same thing
But seeing as this place has more than its fair share of tankies, I'm not surprised at the economic illiteracy on show.
๐๐
Lol, I'm just a pedant not a boot licker