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IPFS News Link • General Opinion

I'm the 0.0001%: My Confession

• https://fee.org by Jim Kelly

ncome inequality in the US celebrated its 50th birthday last year. Having declined steadily after World War II, 1968 began a 50-year winning streak.

Few are cheering, though, because concentrations of wealth are dangerous. People controlling huge amounts of money can use their buying power to push us all around. Hence billionaires like Mark Zuckerberg, Bill Gates, and Warren Buffett are much in the news on the receiving end of public opprobrium.

I'm happy about that. It keeps the pitchforks pointed away from me and my even greater piles of dough. Mark and Bill are comfortable, to be sure, but the really rich are in another league. There are about 500 of us with spending power to make Zuckerberg's eyes bulge. He may have $56 billion, but it's mostly on paper in Facebook stock, and it took him decades to acquire. His entire net worth is merely pocket money to people like me: we spend that much every two weeks.

I don't normally talk about the vast sums at my disposal. I'm more often leading the mob denouncing the rich. But I wanted to get it off my chest, and I feel I can confide in you not to spread it around.


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