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Originally Posted by TheSquealer
I love how poor people start with the base assumption that a rich person just has it all under his mattress and only got it by taking it from others. Their money is in the system, it creates jobs, expands companies, it funds loans for businesses, business growth, home purchases, cars, education and so on,..
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Damn straight..... very few people get it. Their money has velocity and even if they do nothing, their money creates jobs and creates wealth even if its just sitting in a brokerage account or a bank account.
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furthermore, their "wealth" is on paper... not liquid. When Steve Jobs is worth $10 Billion USD, where do you think that "money" is exactly?
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Well if his $10 Billion USD is in Apple stock then its as liquid as Apple stock and he can sell a bunch whenever he wants although privately there might be rules about how much and how often selling (not to send out a wrong message).
I just read this on BBC and I'm not sure if its accurate but interesting reading:
BBC News - Richest 1% to own more than rest of world, Oxfam says