cm0002@lemmy.world to Political Memes@lemmy.world · 5 days agoExpropriationexternal-linkmessage-square15fedilinkarrow-up1602arrow-down15
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minus-squareStupidmanager@lemmy.worldlinkfedilinkEnglisharrow-up31·5 days agoLook, if everyone is a millionaire then no one is rich. We don’t want that level of chaos now do we? /s
minus-squareMNByChoice@midwest.sociallinkfedilinkarrow-up9arrow-down1·4 days agoTo be fair, $1 million, while a shit ton, is not rich. $10 million and up is astronomical. $999 million is obscene when people are starving. Most Americans, and most humans, will never save $1 million. (The median USA household income in 2024 was apparently $83K. This is enough to earn $1 million over the course of a household’s earning.) Applying the 4% rule to the above, $1 million invested could safely return $40K per year. $10 million likewise $400K per year. My point is that there are many actual millionaires in the USA and that there is a large difference between the top and the bottom of “millionaire”.
minus-squareDave@lemmy.nzlinkfedilinkarrow-up6·4 days agoSaid another way, the vast majority of millionaires are working class and would benefit from most wealth distribution policies in one way or another.
Look, if everyone is a millionaire then no one is rich. We don’t want that level of chaos now do we?
/s
To be fair, $1 million, while a shit ton, is not rich. $10 million and up is astronomical. $999 million is obscene when people are starving.
Most Americans, and most humans, will never save $1 million. (The median USA household income in 2024 was apparently $83K. This is enough to earn $1 million over the course of a household’s earning.)
Applying the 4% rule to the above, $1 million invested could safely return $40K per year. $10 million likewise $400K per year.
My point is that there are many actual millionaires in the USA and that there is a large difference between the top and the bottom of “millionaire”.
Said another way, the vast majority of millionaires are working class and would benefit from most wealth distribution policies in one way or another.