There we have it. It’s just pure envy and punishment. Nothing to do with making poor people better off. Even if you confiscated 100% of their wealth and distributed it, it would come to something like an iPhone each, not a house or even car each.https://twitter.com/AOC/status/1127270688925134849 …
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You don't agree. Okay. But please don't make up falsehoods to support your position. If you'd confiscated 100% of the wealth of U.S. based UHNWIs it would come to approx 26k USD per US individual. Much more than an iPhone and certainly within the range for a car.
Net worth of U.S. based UHNWIs according to Wealth-X 2017 report: 8719 billion USD U.S. population according to United States Census Bureau: 327 million people
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Adding the top ten in https://en.wikipedia.org/wiki/List_of_Americans_by_net_worth … gives $694.3b, or $2123 per capita. iPhone Xs Max 512 GB is US$1449 plus tax. Add AppleCare+ for $299 (to make sure poor people actually have a working phone for a couple of years) and you're up to $1748 plus tax. It's pretty close.
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Obviously the phrase "it's like 10 people" in AOC's OP is a figure of speech. Otherwise it wouldn't even include Betsy DaVos, which she mentions as reference point. Richard DeVos used to be the 60th wealthiest person in the U.S. To sum the top 10 is just a bad faith argument.
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Add two years of cell service and you’re definitely there.
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Reasonable regulations for those kind of markets would help there. ;)
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