• david
    link
    fedilink
    arrow-up
    43
    arrow-down
    2
    ·
    1 year ago

    You didn’t scroll as far as the “total earnings in your lifetime” and “total earnings of a doctor in their lifetime”, then, I take it.

      • theneverfox@pawb.social
        link
        fedilink
        English
        arrow-up
        28
        arrow-down
        1
        ·
        1 year ago

        Yeah, it’s the lifetime theoretical reward for highly skilled work vs what someone has right now.

        You might think “that’s just on paper”, but cut it by 10 and it’s still a nonsensical comparison. The scale is insane

        It’s a moon base built ASAP. It’s build a floating country in the Atlantic the size of Delaware. It’s buy a prefab house for everyone in the US who is renting or homeless. It’s give everyone in the world a plane ticket to anywhere they want, round trip. It’s build a maglev train network across a continent. It’s wake up every day, go anywhere, and buy a new house at such an insane price the existing owner would agree to leave within the hour. It’s build something the scale of the Washington monument at every rest stop across the US

        These aren’t things that would use up the wealth, these are things individuals could do, then go on to live the most extravagant possible life. Sure, a lot of these things would require careful planning and take decades if you actually wanted to do them, but that’s the scale we’re looking at - it’s choose an issue and affect global change kind of money.

        Yeah, wealth, income, and lifetime projected income are all very different things, it’s apples and oranges. Except it’s more like a single apple against every orange ever eaten - the sheer difference in scale makes any comparison meaningless. Simply spending their wealth, in any way, would drastically change the lives of countless people for the better

        • Bernie Ecclestoned@sh.itjust.works
          link
          fedilink
          English
          arrow-up
          1
          arrow-down
          6
          ·
          edit-2
          1 year ago

          If they spent their ‘wealth’ they’d have to convert their assets into cash, making it income, their wealth is shares in the companies they built. If they sold their shares the prices would tank

          Those companies employee millions of people who receive income and pay taxes on it

          A top band Amazon dev is earning 1m a year…

          • lad@programming.dev
            link
            fedilink
            arrow-up
            2
            ·
            1 year ago

            Regarding the last point: so it will take said dev just another 185 thousand years to get to Bezos level

            Regarding the first, there is a link to explanation about why this is not correct in the infographic

            • Bernie Ecclestoned@sh.itjust.works
              link
              fedilink
              English
              arrow-up
              1
              arrow-down
              1
              ·
              edit-2
              1 year ago

              They also get stock options regularly and dividends…plenty of people have started successful businesses after gaining sufficient wealth.

              So, if we convince billionaires to sell all of their company slowly it’ll all be fine? That’s your logic?

              A, why the fuck would they do that?

              B, the shareholders via the board make the decisions, you think they’ll be happy with a CEO who has no skin on the game? And would have to be compensated by fuck tons of cash, which would hurt the business

              • lad@programming.dev
                link
                fedilink
                arrow-up
                2
                ·
                1 year ago

                My logic is that not every “successful business” is worth billions. And maybe there’s sense in doing something with ones that are, like split them into several businesses that are not owned by a single person

      • Viking_Hippie@lemmy.world
        link
        fedilink
        arrow-up
        26
        arrow-down
        2
        ·
        1 year ago

        You’re not that bright, are you?

        Otherwise you might have known that repeating something that is blindingly obvious to everyone and also completely besides the point is not an effective counter-argument.

        • Bernie Ecclestoned@sh.itjust.works
          link
          fedilink
          English
          arrow-up
          3
          arrow-down
          6
          ·
          edit-2
          1 year ago

          It’s just not comparing like with like.

          If you earn 10m over your lifetime, spend 3m on living, buy a house for 1m, pay 1m into a index linked pension you’d end up with wealth as well as income. I.e. > 10m

          That’s why it’s always important to compare like for like.

          Wealth is not income, income can create wealth. Wealth can create income, they are still not the same thing

          But seeing as this place has more than its fair share of tankies, I’m not surprised at the economic illiteracy on show.