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Archaic

(273 posts)
8. The 1% or the 0.01%
Wed Dec 25, 2013, 02:24 AM
Dec 2013

I have an argument that goes back and forth with an former co-worker.

He honestly believes that the Forbes list is indeed the wealthiest people in the world. I try to explain, that's the wealthiest people who will allow themselves (or are arrogant enough to want) to be listed.

So he'll shout that Gates/Buffet/Slim are the richest. And I'll say, how many families in France, Germany, Japan, Russia, have maintained their wealth for centuries? Land ownership, many estates, private companies, etc. And yet, none of them are in the top 400? How strange.

The Bush tax cuts helped a lot of people below the top. Which made it easy to find idiots to do the work of the richest. Why would you shine attention on yourself when some jackass making $2M a year thinks he's actually rich. He makes 20x-50x what most of us make. But he thinks those changes are for him. So he'll lead the charge.

There's a lot of "rich" people who are going to be very upset when they figure out that they're of even less worth than us normal people. Rich folks don't make things, don't move things, don't fix things, don't clean things.

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