Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ...
by kortilla on Tuesday February 09, 2021 @02:24PM
(#26081483)
> The poor generally have less cash in the bank than the rich.
As a percentage of total assets, absolutely not.
> Those living of fixed incomes are rarely the poorest, either. Pensions in many countries are tied to inflation.
No, this is incorrect. There is a ton of middle class retirement based on fixed payment annuities. Additionally, the “cost of living adjustments” for things like social security are often completely incorrect due to the spending patterns of elderly being impacted by some categories far more than others.
As a percentage of total assets, absolutely not.
> Those living of fixed incomes are rarely the poorest, either. Pensions in many countries are tied to inflation.
No, this is incorrect. There is a ton of middle class retirement based on fixed payment annuities. Additionally, the “cost of living adjustments” for things like social security are often completely incorrect due to the spending patterns of elderly being impacted by some categories far more than others.