—that’s the average for the individual per capita, the household might be two or three times as much. On the outside chance that your personal bank balance is less that $225,000 then you’re like most of us. Wealth has a habit of being created by the few really clever ones and most of us make do w/ say half that...
You’re right. But either way the “net worth” calculations are failing to account for the share of the national debt that still has to be paid back, and that’s doubled under Obama.
Which is the really important thing, no? A few clever ones make life much, much better for the rest of us.
Imagine an island on which a genius inventor creates a pill that, if taken once a day, sustains all life and maintains one’s youth (say mid twenties). He charges 100% of the productive output of all the people on the island. Are they, in a free market, better off or not?
You’ve got absolute income inequality. He earns 100% of the islands income. We should expect income inequality in a competitive market. It’s a sign of robustness.