Them That’s Got, Get
If you had any doubts, the BBC reports: Richest 2% own ‘half the wealth’.
If you are feeling pretty good about your condition you should note: “In contrast, some citizens of the rich countries have more debt than assets – making them, the report says, among the poorest in the world in terms of household wealth.” This is the reason the housing bubble has had such an impact – when your largest asset is de-valued, you can become poor really quickly. I would note that property assessments will lag this decrease, so you will still be taxed on the higher value.
2 comments
Billie sang it best…
There is no intrinsic right to unlimited wealth, especially in the face of great need. If you need a source other than Billie Holiday on the subject, try old Ben Franklin. (Christians might be able to think of yet another authority on the subject of wealth and poverty…)
My problem is that I don’t understand the point of having a so much money you can’t spend it.