All this stat shows is only a very few people have the knack for making big money.
India is the third world and is only getting wealthy it seems by the exporting of American desk jobs (phone staffing, graphic design, computer programming and testing, legal document generation...)
Why is it important to reduce the gap between rich and poor? After all, the gaps in intelligence, skill, and motivation between different people is very large, even in the same family.
And they employ a massive number of people, and make it possible for those people to support their homes and families.
If the government took these billionaires money, it would result in the largest destruction of capital the world has ever seen, and set back humanity decades if not centuries.
Government would spend it in mere months, and then it would be gone.
The billionaires, their businesses, and their employees would cease paying income or business taxes.
Suppliers would go out of business. All the people they employed would be out of work.
Places where all these people bought food and supplies, bought home improvement merchandise, and other things, would go out of business.
The ripple effect would be staggering.
All so a few Leftists could game this situation, for political gain.
Those are pretty amazing numbers when you consider just 1 billion = 1,000 million...lol
The big promise Communism and Socialism always makes...
...and always winds up being a massive destructive force.
Equality... NONSENSE
MarketWatch - the Venn diagram of clickbait and class envy.
Gosh, it used to be special to become a billionaire. Now you have a couple thousand other people to contend with. Guess I’ll pick a different item for my bucket list.
Good for them.
I will be there some day.
And how much are all of them worth 3 minutes after they die?
The same... Zero
Most American middle income people don’t seem to want to bolster their living standards by seizing other people’s money. Or by stressing themselves out and ruining their family life trying to get rich.
How many of those 2 billion have paying jobs because a billionaire knows how to, effectively, earn money for himself through the efforts of many, many paid employees?
Then, how many other people of that 2 billion prosper because those employees have money to spend on both necessities and goodies?
And so on and so on down through group after group...
This is a big liberal leftist theme.
Their idea always is to suppress and take from billionaires rather than everyone get more.
duh...
Me and my wife are just middle class in Florida, and I’m pretty sure that I’m wealthier than half of the people in the world. Statistically meaningless, and just as meaningless than the comparison of the billionaires and the 4.6 billion people.
None of this impacts whether my mortgage cheats clears.
At least now 4.6 billion people know who to go to work for.
This is known as “bad luck.”
--Robert Heinlein
The percentage of humans living in abject poverty is the lowest in all of history. But, I can guarantee you that if we take punitive action against the ultra-wealthy we will start having a run of "bad luck".
The billionaires that support this should give it up first. I believe nearly all of silicon valley billionaires loves those that want to take their money