• 14 Posts
  • 382 Comments
Joined 2 years ago
cake
Cake day: June 10th, 2023

help-circle


  • That provides a social benefit - a fortune that isn’t being spent is like a loan to society.

    Quite the opposite. If they were living off interest, their money would go towards people taking out loans, starting businesses, buying houses, and generating more wealth. That’s generally how it’s “supposed” to work.

    Per the article, they’re accumulating wealth through stock appreciation and then borrowing money using the value of the stock as collateral. So they’re actually borrowing money that could go to other people. Meanwhile, a massive quantity of stock appreciating value doesn’t do anything for anyone.

    All the while paying zero taxes.