News for hackers. Stuff that matters.

A comment on Richest 1% on target to own two-thirds of all wealth by 2030. Parent comment

Re:Richest 1% on target to own two-thirds of all wealth by 2030 by zaroth on Saturday April 07, 2018 @02:47PM (#16782123)
Not so much hoarded as invested. Warren Buffet primarily keeps his money in BerkHa stock, which itself puts its money to work employing nearly half a million people.

If the wealthiest 1% had their assets wiped out tomorrow, most of us wouldn’t have a job the next day.

[ Parent | on HN ]
Re:Richest 1% on target to own two-thirds of all wealth by 2030 by mpweiher on Saturday April 07, 2018 @03:02PM (#16782201)
Define "wiped out". If the wealth were simply redistributed, for example the ownership of the companies transferred to the employees, no jobs would be lost.

Not that I am an advocate of that.

[ Parent | on HN ]