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Income Inequality


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  • 1 month later...

5 minutes ago, RedDenver said:

 

 

 

 

I'm really genuinely not too good with math, but even I can realize this is a much too simplistic way of looking at this that doesn't necessarily say much other than a talking point. 

 

 

For example, two months ago Bill Gates had given away over 35 billion in charity just in the first 3/4 of 2019. But he also added another 16 billion to his net worth. He gave away almost a third of his total net worth but added back a tenth (probably usually adds back more), and I imagine keeps recycling it like that over and over. 

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So let's say he  only has 1billion liquid.  .4% of that is still pretty poor in comparison to what many donate to charity.  

 

In the US the avg donated is something like $4k per person, which is 3.7% of their avg earnings.  Now obviously that includes outliers like Bill who give significantly more, so let's say it's $1k avg for a "regular" person.  Still more than .4%.

 

I've got no skin in this argument really, but I have always found it interesting the accolades given to big name people when they give to be a bit of an insult to those who give and actually sacrifice to do so.  Everything is appreciated, but imagine what a difference the truly obscenely wealthy could make (and yes, I know some do make a difference)  

 

I keep meaning to look into Bloombergs' percentages, as he's been very targeted with focus on clmate change and etc.

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45 minutes ago, NM11046 said:

So let's say he  only has 1billion liquid.  .4% of that is still pretty poor in comparison to what many donate to charity.  

But they're saying 0.4% of 2.5 trillion is 10 billion. If we assume they all gave equally then each of the 400 would donate $25M. In your scenario that's a 2.5% of the billionaire's cash.

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