Another Comment Promoted to Post - Scott Adams' Blog

Another Comment Promoted to Post

User Shaqbark had a great comment about the notion that the rich don’t have enough money to put a dent in the financial problems:

Fire@will writes:

[The “rich” don’t have enough money to make everyone else rish. Confiscate all the wealth of the wealthiest ten percent and I’ll bet it would not pay our debts for a month. Then what?]

From http://en.wikipedia.org/wiki/Distribution_of_wealth:
The United States is one of the richest countries in the world, and in 2000, the mean wealth was $143,727 per person.[10] In the United States at the end of 2001, 10% of the population owned 71% of the wealth, and the top 1% controlled 38%. On the other hand, the bottom 40% owned less than 1% of the nation’s wealth.

Hence, the rich actually DO have enough wealth to make EVERYONE in the US rich – if it were possible to redistribute this wealth without causing massive inflation, which it would not be.

One of the best-kept secrets of the rich is that being wealthy (not just having lots of zeros in your bank balance, but being able to have a life of leisure, space, and privacy) requires other people to be poor.