From today's @guardian:
"Musk on pace to become world’s first trillionaire by 2027, report says"
Others, it is suggested, are not that far behind in this race to accumulate what for most of us is unimaginable wealth.
But while these people are hoarding vast amounts of money, think what this means: that every dollar, pound, yen, rupee that they hold is money that will not, can not, be spent on improving the lot of mankind.
It's time for global taxes on wealth.
@RussCheshire @guardian it's really important to emphasize that these people do not actually hoard vast amounts of money.
These rankings do not count money. It's really important to emphasize that for anybody who cares. Personally, I don't, so I don't have a horse in this race, but if you do care, then you really really need to know that these rankings do not count money.
Musk does not have that cash. He has equity in various investments that may in theory if calculated a certain way result in that sales price, but those calculations are definitely wrong. They are just guesses.
He does not have that cash.
I really wish more people understood this because politicians constantly trick people with this sort of misleading rhetoric.
@volkris @RussCheshire @guardian Yeah, turns out nearly all the wealth being held is actually companies that are literally trying to improve the lot of mankind; OP has it 100% wrong!
(I mean, we can quibble about how much good his companies do, but still.)
@ech @RussCheshire it's not quibbling, though. It's the substantial question of whether the money does or does not exist since the proposal is to take away money, that may not exist in the first place.
That's a core issue.
And it has absolutely nothing to do with whether companies are bad or good.
@guardian