by EnergyUnlimited » Wed 08 Aug 2007, 16:38:51
$this->bbcode_second_pass_quote('gg3', 'R')e. "wealth."
OK, so let's start with the doctor who lives up in the hills. He owns a house with a half million in equity, has various accounts with another million or two in equity, lives within his means... let's say his net asset worth is about $2 million. He's a millionaire, which makes him conventionally wealthy.
Now the doctor has a gardener, who doesn't own a house but owns his truck and tools, and has some equity in his business, maybe in the range of about $20,000 altogether. He's a deca-thousandaire, if you will.
Now take a look in the stratosphere. A billionaire with let's say $2B in net asset worth.
Who has more in common with whom, we ask...?
Well, the doctor's assets are worth 100x as much as the gardener's. But the billionaire's assets are worth 1,000x as much as the doctor's.
When it comes to tax policies and suchlike, the doctor's interests and the gardener's are more alike than the doctor's and the billionaire's.
1. Rich people is the one who can run a war and challenge authorities of his state by military means, paying out of his own pocket.
So there are very few "rich" peoples on the world and none in US.
2. Paper wealth of billionare may prove to be worth not more than a decent plot of fertile land with a farm on it.
Afer a crunch our billionaire may turn to be a serf holding some paper which was valuable in the past but not any longer and a farmer (or his children) may make into aristocracy in emerging feudal system and thousands of serfs will work for him.