Will Moderate For Cigars
Date registered: Apr 2005
Vehicle: 2002 ML320, 2005 S430 4MATIC, 2010 F150 Crew Cab
Location: City on the TN River
Mentioned: 3 Post(s)
Quoted: 204 Post(s)
Hypothetical but simple illustration as to why this rich-poor gap is such BS.
Let's say a loaf of bread is $2.00 and it goes up 10% to $2.20. The poor man was paid enough to buy 200 loaves at $400.00. The rich man was paid enough to buy 1,000,000 loaves at $2,000,000. Now the poor man gets a cost of living increase to compensate: $440.00 to buy the same 200 loaves. The rich man also gets the same 10% to buy 1,000,000 loaves at $2,200,000. The gap of dollars between the rich and poor man did indeed widen by $199,960, BUT, the buying power of the rich man's money stays the same as does the buying power of the poor man's money. They both can still buy the same number of loaves of bread as before. This cycle will continue over the years and decades to come, but the money for each will provide the same results. Both can change their positions to further improve: The rich man can buy less bread and invest more money and the poor man can find a better paying job.
2005 S430 4Matic 'Morton' W220.183 • 722.671 Rest in Peace
Bells and whistles are thorns and thistles.