this post was submitted on 15 Jun 2024
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The fact you're setting an arbitrary limit of cash in a bank account shows how little you've thought about this. Rich people have money in the bank, sure, but the vast amount of their wealth is in stocks, property, and other assets. Also, assuming rich people have one bank account they keep all their money in is foolish. You have to spread your cash around to multiple accounts and even banks in order to not exceed the amount the government is willing to insure.
I dumbed it down to the level of the people who are defending billionaires. No one should be allowed to have multiple millions or billions in wealth while people are starving even in rich countries.
Ah yes, the old "I was only pretending to be dumb" excuse.