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What do "rich people" do with their money?
"Rich People" have a lot of money. How much money does a need to be considered rich? What do they spend money on? What do they do with money they don't spend? Thanks for the help with my research.
5 Answers
- Mother HubbardLv 71 decade agoFavorite Answer
They make themselves better than you
They study at great schools, exercise in lovely environments and socialize with each other.
- Uncle PennybagsLv 71 decade ago
Well, if you listen to Liberals here, they must do nothing but use it to figure out new ways to screw the poor people. Or put it all in a room and keep it to roll around naked in.
It seems like Liberals have succeeded in arbitrarily labeling any family making more than $250K as rich. And truthfully, that's not a bad number.
In reality, rich folks do the same things with their money that we all do. They spend, save or invest it. And all 3 help the economy.
Spending helps grow the consumer economy and provide jobs I mean somebody has to build their yacht's and mansions, fly them to exotic places, wait on them in expensive restaurants, raise the food served in that restaurant, and otherwise supply the things they buy, right?
Saving makes money available for loans by banks, helping businesses grow, or folks take out loans for cars and homes. That certainly helps growth.
Or they invest it, which makes money available for businesses to improve products, expand and otherwise create more wealth, and jobs.
- CantankerousLv 71 decade ago
They give it to their children who have done no work to deserve it, for the most part. They also use it to reinforce their advantage over the other classes such as the Koch brothers and "Americans for Prosperity", who are currently fighting to see that teachers get paid less in some states. They use it to obtain healthcare that most americans could only dream about, lessening the worry of death by disease etc than the general population. They loan it to poorer people at high interest rates, and Some invest it in a diverse portfolio to ensure that they will continue to recieve income for no additional work on their part, and a small portion of it is donated to charities. Many use their money to move to communites where they don't have to have contact with "regular people" and pay security guards to keep us away just in case. The also give their children an unearned advantage in the college and job markets, regardless of ability. Many make large political donations to candidates which promise to tax them even less than they are now, and to create loopholes in the tax structure that they benefit from greatly.
- Anonymous1 decade ago
They spent it on whatever they need/want. What they don't spend they put in the bank (making it available for other people to borrow), invest it is stocks (making it possible for businesses to expand and create more job) or bonds (making it possible for governments to do things like build schools and libraries) or give it to charities.
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