When I was younger, I don't remember any discussions about distributing the wealth of millionaires, even though millionaires were relatively rare. In fact, people aspired to be millionaires through working or investing. Nowadays, there seems to be disdain for billionaires and discussions about distributing all or part of their wealth.
The following article If America’s top 5 billionaires split their wealth evenly, here’s what you’d receive discusses what would happen with options of distributing billionaires wealth to Americans. Basically, each person would receive $4629.78 one time.
While not a small number, it probably doesn't solve the major financial problems of many people with medical debt, student loan debt or even credit card debt. To me, distributing billionaires wealth doesn't solve personal financial issues for most people. Also, it seems to distract from the real issue of individuals not learning how to do good management of personal finances.
Maybe personal finance courses need to made part of a good high school education going forward. A good basis would be Financial Lessons from my Parents' Generation Re-Learned
For more on Crossing Generations, check back every Thursday for a new segment.
This is not financial, wealth distribution, nor education advice. Please consult a professional advisor.
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