Comments by "whyamimrpink78" (@whyamimrpink78) on "Bernie Piledrives Billionaire Funded Candidates To Their Faces" video.
-
@reddymon , so ignore as opposed to giving a counter argument? Here, I will educate you. On Bernie saying 3 people have more wealth than then bottom half, that is very misleading. Most of their wealth are tied into shares of their business. It is not actual liquidated assets, it is simply shares of their company. One reason why they are worth so much is because they own the shares which shows they are willing to go down with their company. Most of Bezos' wealth is in his shares of his company. If he company fails he goes broke. Him holding on to those shares increase investors' confidence.
Next, a lot of people, like me, have negative wealth due to loans, either college or home loans. That is arguably a good thing as it shows that us as a nation allows people to pull out major loans with confidence they will get their money back.
Read the 2019 article from the Oxford Review of Economic Policy entitled
"Measuring inequality "
At one point they write
"Take, for example, a student. In many cases their student debt will outweigh their other financial assets, and so they will have negative financial wealth. However, we would not typically say that they are in a worse position than never having studied at all. The reason is because the student has taken on debt to accumulate human capital, which is valuable as a means to increase lifetime earnings but not typically counted as wealth. Policies designed to reduce wealth inequality could therefore have many undesirable consequences, not least redistributing away from people with zero assets towards those with negative assets."
Who is in worse shape? Me with negative student loan debt or some homeless person on the street with no assets and no wealth? Shouting "wealth inequality" is incredibly misleading.
3
-
2
-
2
-
2
-
2
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1