'It's FANTASTIC for world's richest 85 people to have more $$$ than 3.5 billion of the world's poor'

[kpete]

Last edited Wed Jan 22, 2014, 02:46 PM - Edit history (1)

It's fantastic for the world's richest 85 people to have more wealth than 3.5 billion of the world's poorest, because it encourages them to work harder

Saying that it's wonderful for the world's richest 85 people to have more wealth than 3.5 billion of the world's poorest, because it encourages them to work harder, is an abomination. It is evil. It is beyond the point of debate, and moves instead to gut convictions about pure right and wrong.

And that's OK. It's OK to feel and express that moral revulsion. It's what keeps us human. The only problem is that we haven't yet evolved in society yet to the point where Kevin O'Leary feels the same weight of public scorn and shame as a Neo-Nazi or a member of NAMBLA.

http://digbysblog.blogspot.com/2014/01/the-face-of-evil-by-davidoatkins.html

[MANative]

1. If you've ever seen this clown on ABC's "Shark Tank"...

you know that this attitude is nothing new for him. He's totally, unapologetically greedy. They call him "Mr. Wonderful" in the most facetious, snarky way. While he undoubtedly knows how to make money, the guy is a soulless bastard, IMO.

[hfojvt]

2. How much wealth do the world's poor have?

I kinda hate statistics like that, because little old me has more wealth than the poorest 21,000,000 households just in America, to say nothing of the world's poor.

And if you wanted to, you could dishonestly expand the size of the poor.

That is, 9.1% of US households in 2011 had less than $5,000 in net worth. Their median net worth was $1,679. Meaning that collectively (since there were 118.7 million households) their net worth is AT LEAST $9.1 billion. (118.7*.0455*$1,679)

But, since 18.1% of households had a NEGATIVE net worth, you could add them to the total and then say that 27.1 million households had a total net worth of zero (actually quite less, since the median of the negative net worth households is $8,610 - meaning that their collective net worth is less than negative $92.5 billion)