Re:What the world will be like in a hundred years (1922)
by tantaman on Thursday January 06, 2022 @03:20PM
(#29829456)
I'd imagine that wealthy individuals are highly leveraged. In other words, rather than selling assets to buy things they take loans against those assets to buy things. This (1) prevents ever having to pay tax (2) gives them benefits from inflation and (3) gives them benefits from low interest rates as their assets appreciate faster than their interest rate consumes money
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Re:What the world will be like in a hundred years (1922)
by Manuel_D on Thursday January 06, 2022 @04:54PM
(#29830826)
Most sources I read indicate the opposite: poor and middle class people are much less likely to be debtors rather than creditors. They're more likely to have an auto loan rather than own a car outright. Likewise, they're more likely to have a mortgage on their home rather than own it. The wealthy, by comparison, are more likely to invest their money, issuing loans to other people.