, 3 tweets, 1 min read Read on Twitter
I'm with Sirota on this one. @GlennKessler's logic here — that it's "not meaningful" that the bottom 50% of earners have no net worth because they have a bunch of debt that's obscuring all the assets they *do* have — is a completely nonsensical take.
Kessler's argument here is basically that if you just discount all the debt poor people have, they're basically rich.

Yeah, and if you discount all the people Jeffrey Dahmer ate, he wasn't that bad a guy.
Yes. Poor people often have a lot of "assets" that they went into debt to acquire, and the balance sheet doesn't reflect that.

Kessler seems to think that makes Bernie's point irrelevant. I don't. In fact I think it's Kessler who is making distinctions that aren't meaningful.
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