Except it’s worse than that. The argument goes, if I could donate $1m right now to a charity, or invest that money in subprime mortgages for a year and donate $5m next year, plus keep a little bit of that profit to live on, obviously the optimal course of action is to be a capitalist and not donate right now.
Project this rationalization forward indefinitely and you get all the benefits of the 1% lifestyle while retaining the ability to feel morally superior to everyone else not in your little trust fund cult