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Abigail Disney: ‘Every billionaire who can’t live on $999m is kind of a sociopath’
(www.theguardian.com)
Latest US news, breaking news and current affairs coverage from theguardian.com
I feel like now is also a good time to remind everyone that the numbers themselves will change over time and aren't important.
I call them billionaires because that's the number we happen to be on in the US right now, but not too long ago they would have been millionaires, and with a bit more inflation they will start to be one trillionaires. Back in 1950 in the US, the highest Federal tax bracket of 91% applied to AGI over $200,000, for example.
I found an estimate here that there are 2,640 USD billionaires in the world today, but that fluctuates with stock prices, exchange rates, inflation, etc. All it takes is for one economically important country to decide it wants to impose tariffs on everyone and then the market tanks and a chunk of these billionaires become hundred-millionaires until it recovers.
2,640 Billionaires divided by the roughly 8,200,000,000 on the world is about .000322% of the population. I think there are a lot of people today whose net worth might only be 9 digits long that are doing a pretty similar level of damage to the world as billionaires. Removing billionaires is a great START.