Quote:
Originally Posted by puckedoff
That's the beauty of it, my $10 dollars invested in the S&P index compounds at the same rate as Buffet's $10 million. If you want to get rich, buy assets and invest, you will get rich at the same pace as the billionaires.
No, but I thought it was interesting as it quantifies what most assume or believe to be true already. It does indicate that wealth gaps become entrenched, which is what mathgod is arguing (I think) though I do not agree with the proposed solutions. Rather than hoping the government taxes everyone to no advantage, maybe it is a better strategy to become rich.
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lol no. When my $10 makes a $1 return, Buffet's $10 million makes him $1 million. $1 is not $1 million.
The problem with the upward mobility argument is that it assumes there aren't any major flaws in the idea of endless economic growth, consumerism, and resource depletion when we live on a finite planet.