They also get a return on their investments, and the more they have the more they get, it’s very simple math: if you have $10000 and see an annual return of 10%, at the end of the year you earned $1000, which is nice, but would barely even cover any type of emergency expense.
If you instead have $1000000, at the end of the year you will have earned the equivalent of life-changing money for a struggling family of four.
That’s the difference. It’s not the relative increase, absolute numbers matter a lot. Also, if you have $10K, that money is not going to be invested, that’s barely enough money to survive on. If you have a million, you can live comfortably without working at all and still make enough money equivalent of having a top paying full time job.
It compounds over time, not just the interest, but so many factors like having the free time to pursue other things, take out loans, have doors open for you and connections with other rich people all helping each other out.
Money doesn’t fucking scale with democracy and justice.
No. They don’t “merely hoard” money, they exploit the working class for starters. That is an active and lasting effect of amassing wealth.
They also get a return on their investments, and the more they have the more they get, it’s very simple math: if you have $10000 and see an annual return of 10%, at the end of the year you earned $1000, which is nice, but would barely even cover any type of emergency expense.
If you instead have $1000000, at the end of the year you will have earned the equivalent of life-changing money for a struggling family of four.
That’s the difference. It’s not the relative increase, absolute numbers matter a lot. Also, if you have $10K, that money is not going to be invested, that’s barely enough money to survive on. If you have a million, you can live comfortably without working at all and still make enough money equivalent of having a top paying full time job.
It compounds over time, not just the interest, but so many factors like having the free time to pursue other things, take out loans, have doors open for you and connections with other rich people all helping each other out.
Money doesn’t fucking scale with democracy and justice.
Yeah I was missing ‘the money… Of others’