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RIP_Cheems ,
@RIP_Cheems@lemmy.world avatar

As a retort, why do we need to know this?

soggy_kitty ,

It’ll be related to wealth and net worth somehow. The internet is obsessed with distribution of wealth

1847953620 ,

innumeracy. “Why would it help to have an intuitive understanding of large quantities? You think it would help grasp situations where they’re used or something?”

LifeInMultipleChoice , (edited )

Think it alludes to things around if you have 5 million dollars you can live off it for the rest of your life. If you have 5 billion dollars you can buy a $500,000 house daily and never use a dollar of your initial 5 billion. (Assuming 5% interest). Creating a forever rich family that no one will ever have to work again. That interest all gets pulled from the lower & middle classes slowly draining them and in truth the 5B owner won’t be buying a new house daily, it will just rack up and maybe they will invest in a few other large companies. Until eventually you get a financial distribution that looks similar to what we have today. And it only gets worse unless you can tax in such a way that the wealth feeds back into those lower classes. A person with 20m dollars isn’t much of an issue. A person with 20b dollars can wreck an economic system over time.

The economic system is set up in such a way that rich eventually are taking food out of the poors mouths by breathing. Or not, in the U.S. we had an official state something along the lines of only a fool pays inheritance tax.

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