Considering the horrifically shit quality of education in the US, you’re probably better off saying “the difference between a million and a billion dollars is 999 million dollars”.
20 million is what a rich person should be not 20 billion. the latter one is more akin to cancer, hoarding resources to the extent of the suffering of everyone else.
I’d consider this way; assuming the upper bound there (20m), Elon spent over 14 Bill Burr’s worth helping Trump get elected, and that was pocket change to him.
That’s the difference in scale. Musk could lose everything Burr has ever owned and he literally would not notice.
You can maybe argue that what Burr has is too much. Personally, I really don’t care at this point. I’ll ponder the moral rightness of the existence of millionaires when there are no more billionaires.
He’s rich, but only “American Dream” rich, not “controlling the media” and “funding anti-science think tanks” rich. It’s the latter that are the problem.
No it isn’t people investing and expecting massive ROI are already part of the problem. They are driving companies to generate as much profit as possible.
You need a salary of 350k a year after tax which is like a 700k salary before tax. Or more likely you need a good company and yeah they will be evaluated for a sale for in the milions, but generally that is incorrectly counted towards your net worth. Since you are counting future income from the company towards your net worth.
$14M is almost exactly the top 1% of US households by wealth, around a million to million-and-a-half of them. There’s only 750 billionaires. The billionaires are less than 0.1% of the US 1%.
$14M is plenty to live very comfortably, but it’s little enough that you still have to consider costs of big purchases. You’re not going to own a jet. You can have multiple houses as long as you keep them normal-sized. $14M is rich, but it’s not Rich-rich.
Listen, I understand that numbers are scary, but the difference between ‘ordinary rich’ and ‘problematic rich’ is entirely in the numbers. I’ve probably got 10x as much cash in bank as you, but I’m not rich. My grandma, retired with a paid-off house and a bit of 401k, probably - technically - a millionaire, but still not rich. Billionaire who gets stopped for speeding or DUI can drop $100,000 on lawyers, the way I might drop a penny in the Take-a-penny dish, not just fighting his ticket but investigating and suing the PD that stopped him. That billionaire can pay a politician $1M for special treatment the way I might buy lunch.
Your grandma with $1M ain’t problematic rich. Billionaire is problematic rich. The threshold is somewhere in between, and probably closer to $100M than $10M. Estate tax starts at $14M. Most of the proposals for wealth tax start somewhere around $50M.
His net worth is between $14M and $20M. That’s a lot for you and me, but he is nobody for example next to musk’s $400B (20,000 times more)
One million seconds is a about 11 days, 1 billion seconds is just under 32 years. People underestimate the difference
The one I’ve always liked is “the difference between a million dollars and a billion dollars is… about a billion dollars”
Considering the horrifically shit quality of education in the US, you’re probably better off saying “the difference between a million and a billion dollars is 999 million dollars”.
Considering the average American is more ignorant than Philomena Cunk, are we sure they can count that high?
A lot of Americans live on social websites like some other people.
I mean, he is still 980 MILLION dollars away from being a mere billionaire. He is WAAAAAAAAY closer to you and me
I read the waaaay in his voice
20 million is what a rich person should be not 20 billion. the latter one is more akin to cancer, hoarding resources to the extent of the suffering of everyone else.
I’d consider this way; assuming the upper bound there (20m), Elon spent over 14 Bill Burr’s worth helping Trump get elected, and that was pocket change to him.
That’s the difference in scale. Musk could lose everything Burr has ever owned and he literally would not notice.
You can maybe argue that what Burr has is too much. Personally, I really don’t care at this point. I’ll ponder the moral rightness of the existence of millionaires when there are no more billionaires.
We need to define rich. To me, 14 million is rich.
Right now, Bill Burr could buy a house, cash, buy solar power for that whole house. And buy a new car every 5 years.
Then just sit at home, and not do shit. Ever.
I can’t do that. Nobody I know can do that.
He’s rich, but only “American Dream” rich, not “controlling the media” and “funding anti-science think tanks” rich. It’s the latter that are the problem.
It’s not like he’s “give a Nazi salute to millions of viewers and nothing of consequence happens” rich.
Exactly!
Millionaires aren’t the problem. Oligarchs are the problem.
$14M is in the reach of normal people though. With a good job, judicious spending, and a little investment luck, it’s possible to get there.
The problem is that most people don’t have a good job.
No one person can make a BILLION dollars though, without exploiting others.
Without a passive income it is difficult to become rich.
He who is paid by the hour can only trade his time for money.
No it isn’t people investing and expecting massive ROI are already part of the problem. They are driving companies to generate as much profit as possible.
You need a salary of 350k a year after tax which is like a 700k salary before tax. Or more likely you need a good company and yeah they will be evaluated for a sale for in the milions, but generally that is incorrectly counted towards your net worth. Since you are counting future income from the company towards your net worth.
$14M is almost exactly the top 1% of US households by wealth, around a million to million-and-a-half of them. There’s only 750 billionaires. The billionaires are less than 0.1% of the US 1%.
$14M is plenty to live very comfortably, but it’s little enough that you still have to consider costs of big purchases. You’re not going to own a jet. You can have multiple houses as long as you keep them normal-sized. $14M is rich, but it’s not Rich-rich.
You’re saying to me that Bernie Sanders is in the 1%, but not the 0.01% so it doesn’t count as rich. That’s REALLY your arguement here?
Yup.
Listen, I understand that numbers are scary, but the difference between ‘ordinary rich’ and ‘problematic rich’ is entirely in the numbers. I’ve probably got 10x as much cash in bank as you, but I’m not rich. My grandma, retired with a paid-off house and a bit of 401k, probably - technically - a millionaire, but still not rich. Billionaire who gets stopped for speeding or DUI can drop $100,000 on lawyers, the way I might drop a penny in the Take-a-penny dish, not just fighting his ticket but investigating and suing the PD that stopped him. That billionaire can pay a politician $1M for special treatment the way I might buy lunch.
Your grandma with $1M ain’t problematic rich. Billionaire is problematic rich. The threshold is somewhere in between, and probably closer to $100M than $10M. Estate tax starts at $14M. Most of the proposals for wealth tax start somewhere around $50M.
$20M is 20,000x more than $1,000.
Someone living paycheck to paycheck to him is about the same jump as him to Musk.