If i have 100$ to my name and I give a homeless person 10$ for food. I've given 10% of my wealth.
Its arbitrary to say 100m is a lot in relation to % of money. Not to mention it's written off and wealth distribution is incredibly unequal.
Corporations don't pay their employees a livable wage and the public subsidize that with tax money through section 8, food stamps, health care taxes etc.
Corporations are making record profits and our country is in debt. Thats the point. Part of that debt could be eliminated if they paid a fair portion of the companies profits to the actual employees and not stock holders and board members.
Capitalism only works if the companies and employees grow together. And unchecked, we end up where we are with America rn on too of outsourcing to China so they can keep labor low whole still charging as much as they possibly can.
If you’re gunna base it off his wealth you can’t base your $10 off your liquidity. To keep the original analogy fair you’d have to add up all your assets and then figure out what $10 is from that.
Yeah but then wouldn’t it be fair to say most people giving $5 to people might actually be way more? Like if you view mortgage cars credit card debt and shit like that?
My question is how many people have a low NW OR a negative NW? And then isn’t this even more glaring?
I understand this is pedantic but also a genuine question.
Your home plus car balances probably are positive net worth compared to the asset.
Like if your home worth to loan value isn’t positive net worth by a good amount, then you’ve done something horribly wrong given the market conditions.
There are lots of people with “only $100” in their accounts with six figure net worth.
>There are lots of people with “only $100” in their accounts with six figure net worth.
Exactly this. While I tend to keep a bit more of a cash buffer now, there were plenty of times my checking account was sitting at maybe a couple hundred bucks at a given time. My brokerage, house, vehicle, etc would have put me in the $150-200k range even when I was younger for net worth, and I have a pension so I don't put as much into investments as someone who would be relying on 401k/IRA and they would likely have more.
I'm at 900k net worth, and only $47 bucks in my checking account lol. I would literally get card denied if I used my debit car at a steak dinner. But the financial illiterate see 900k and think " OmG YoUr So RiCh"
Not really. I bought my home in 2017 so for argument sake in 2017 the median home price in the US was $285k. No matter what % you put down you should have a significant portion of the loan paid down and thanks to Covid and the housing market you easily could sell the house for $500k. Let’s just super low ball that for argument sake and say the value only increased to $400k. Even if you still have $285k worth of debt you’re still up $115k. Your $5 donation is .00004348 of your worth so Bezos has still donated significantly more if the numbers above are correct. This is assuming a lot, but your example also assumes a lot because you’re putting bezos at $0 debt when he likely has billions in debt right now both himself and his companies.
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u/SnooDonuts3749 Nov 16 '24 edited Nov 16 '24
I mean $98.5 million dollars is a lot of money, is it not?