It’s not like these billionaires are spending this money, so it’s just been invested for 7 years. What’s the old adage, Rule of 72? Given a 10% rate of return, they would be expected to double their money in…
…seven years.
While the tax policies certainly aren’t helping the majority of the population, let’s not pretend compound interest isn’t a thing.
It’s not as if that makes it any better. Tax policy should be designed to actively combat the inequality increase created by compound interest, not go along with it.
It’s not like these billionaires are spending this money, so it’s just been invested for 7 years. What’s the old adage, Rule of 72? Given a 10% rate of return, they would be expected to double their money in…
…seven years.
While the tax policies certainly aren’t helping the majority of the population, let’s not pretend compound interest isn’t a thing.
It’s not as if that makes it any better. Tax policy should be designed to actively combat the inequality increase created by compound interest, not go along with it.
That’s more than inflation I wonder where it’s coming from.
Wealth is not cash or cash equivalents though. They aren’t investing all of their wealth
Most of the wealth of billionaires is invested, often in the same vehicles used by everyone else (stocks, real estate, etc).