Quote:
Originally Posted by itshotinvegas
The only real metric is the quality/standard of life at the bottom. Wealth/income are all impractical metrics. Once again, even in a social utopia, the bottom is not going to generate wealth, or income (other than government entitlements). It does not matter how much or little wealth Bill Gates accumulates. Is wealth the goal, or standard/quality of life? If wealth is the goal, you want people like Bill Gates to handle capital so they develop something like Windows, of which other people can use to generate wealth.
You know...there is more than one side to a coin.
Obviously you are right about the bottom but that is not the point !
The point is when your bottom with no wealth EXCEED a large portion of the population, which now is at horrible level.....
If you have a guy like gates that own 1% of the country ok but what happens when he hold half of the wealth ? Same answer ?
So yeah, the wealth can become a good indicator of the shape of the economy to a country.
Why choose between wealth and quality of life when you should aim at both.
It is like choosing between being healthy or rich.
I mean its fine if you think people need to chose one or the other but do not tell me The US a rich country with strong economy if this choice is actually a necessity for the majority of its population......
PS: and that is why taxes is important, the only "wealth" the bottom can have is good public services at the minimum and in the US , they cant even get health care ....
But ho yeah, US economy and Trump are doing great now.....