[Pooge]

Velocity would be much higher if the same amount of money was in the hands of millions more people.

Corruption of politics would be much harder, too.

[jandrewrogers]

That money is already in the hands of "millions more people". Invested money is efficiently and quickly converted into paychecks for ordinary people. That is the means by which investors hope to make a return on their investment.

[Pooge]

> Invested money is efficiently and quickly converted into paychecks for ordinary people.

It absolutely is not. Can you elaborate?

If by investment you mean funding rounds, then yes I guess. However, they don't use a noticeable of their personal wealth for that purpose at all.

Happy to be proven wrong, though.

[VirusNewbie]

They aren’t hoarding money, you don’t understand that?

What “money” velocity would be higher? Some of these companies have very little profit compared to wealth.

[Pooge]

I perfectly understand that they don't have a swimming pool of coins and bills. However, that doesn't make them less rich by any means.

Being illiquid doesn't mean they can't use that wealth.

[jgwil2]

But "using wealth" precisely means spending money, doesn't it? That is to say, the opposite of hoarding?

[Pooge]

Exactly. And guess what would happen if 1 million was divided between 100'000 people ? This would mean 10k per person and it's fair to say that at least half would spend (some of) it. Therefore, the velocity has increased.

A person having 200 billion is not spending a big percentage of their wealth nor using it. Yes it's not cash but it doesn't mean it's unusable.

I'm not against the ability to be rich; I'm against the ability to be that rich. The system isn't made to have such wealthy people. My country is one of the rare ones that has wealth tax and you just have to see where the progressive tax rate stops to see what I mean.

This would probably get me sent to an American prison.

[VirusNewbie]

>A person having 200 billion is not spending a big percentage of their wealth nor using it

How is it not being used? Walk me step by step where you think this money 'is'. It really seems like you're not understanding here, or maybe i'm just not understanding, so please go slow, explain EXACTLY where you think the money is and why it's not being used like you say.

[Pooge]

If I have the equivalent of $100B in shares and keep them for a very long time, the $100B exchanged hands about 0 times. Therefore, the vast majority of the wealth did not move one bit (literally).

I don't know how you imagine that billionaires use their money but I think we have very different ideas.