yes you’re right this is a lawsuit about too much profit and it will directly set a precedent where companies aren’t allowed to have too much profit.
Pretty smart, as a leftist maybe I’ll sue every corporation for being privately owned, this is a whole new avenue for systemic change. You opened my eyes
I talk about wealth then I talk about income, compare both, then I compare wealth to net worth (which is how you measure wealth)
If you have enough wealth, it’s used to get money as your wealth is used as collateral, you don’t need to be rich to do that, you just need to own stuff that is paid for. I know people who only own a house that isn’t worth a fortune, the got a mortgage on it when the rates were down to 1% to invest it at a higher interest rate, their not rich, they just have wealth that can be used as collateral to get money.
I saw some stats the other day that if you remove the top 1000 incomes in the united states the average drops to around 35k. So that average of 75k is bullshit.
In 2022 the median household income in the USA was $74 580, that means 50% of households had less than $74 580 in income.
A person that has at least a billion in wealth (like Gabe Newell) owns at least the equivalent of 13 409 times the median income.
I would love to illustrate it by copy pasting $74580 13409 times, but it creates a comment too long Lemmy.
If we go by net worth instead?
https://www.fool.com/research/average-net-worth-americans/
5190 US medians, 25 615 US medians for people under 35 (the crowd on this platform).
No one deserves that kind of wealth and anything that’s done to prevent it is a good thing.
Your point is valid but this kind of lawsuit isn’t really the way to go about the change you’re describing
Suing them because they’re making too much profit isn’t the way to go to make it so they’re prevented from making too much profit in the future…
Eh…
Ok
yes you’re right this is a lawsuit about too much profit and it will directly set a precedent where companies aren’t allowed to have too much profit.
Pretty smart, as a leftist maybe I’ll sue every corporation for being privately owned, this is a whole new avenue for systemic change. You opened my eyes
Wealth is not money.
That’s why I included both numbers, but if you know how to deal with your finances, at some point wealth is pretty much the same as money.
You have confused the two numbers. Again, what is NOT money.
Check my comment
I talk about wealth then I talk about income, compare both, then I compare wealth to net worth (which is how you measure wealth)
If you have enough wealth, it’s used to get money as your wealth is used as collateral, you don’t need to be rich to do that, you just need to own stuff that is paid for. I know people who only own a house that isn’t worth a fortune, the got a mortgage on it when the rates were down to 1% to invest it at a higher interest rate, their not rich, they just have wealth that can be used as collateral to get money.
I saw some stats the other day that if you remove the top 1000 incomes in the united states the average drops to around 35k. So that average of 75k is bullshit.
Median != Average.
The median is an average. But it isn’t the mean, which is presumably what the other comment was using.