cm0002@lemmy.world to Political Memes@lemmy.world · 7 days agoExpropriationlemmy.mlimagemessage-square15linkfedilinkarrow-up1604arrow-down15cross-posted to: memes@lemmy.ml
arrow-up1599arrow-down1imageExpropriationlemmy.mlcm0002@lemmy.world to Political Memes@lemmy.world · 7 days agomessage-square15linkfedilinkcross-posted to: memes@lemmy.ml
minus-squareMNByChoice@midwest.sociallinkfedilinkarrow-up9arrow-down1·6 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-up6·6 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.
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.