[ Continued from this section of another thread:
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But people like myself actually read the OMB reports.
The first time I did was in 1993, after Clinton's first year.
As I said, they don't even bring half of that home, and most of their income is rather fixed.
Maybe $10,000-20,000/year is discretionary in the end, because they have other, non-liquid assets, obligations, etc...
But if you want a good read, check out The Millionaire Next Door.
Even the liberal NYTimes had a great article:
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The median income of the US millionaire is under $150,000/year.
The mean average (including the people that skew the curve up) is only $247,000/year.
The reality is that most of their investments and value is so tied up, they live just like you and I for the most part.
You're talking 1 in 100,000. There are only a few tens of thousand in the US.
The median wealth of the US millionaire is $1.6 million.
Let's say they didn't work and assuming those assets had an annual return of 5%.
They would get $80,000/year from those assets, before considering capital gains or income taxes.
In other words, they still can't live like millionaires as people think of them.
Most of them choose to work, and recycle as much as they can back into investments.
Back into jobs for other people.
Again, stop listening to the media, stop watching Hilton, and get the real facts!
And most states would not pass the US Constitution until a Bill of Rights was added.
It was written by the states, and not the Continental Congress.
I rather tired of people thinking they even have the grounding to bitch about "the rich."
This country was founded on opportunity, and those who don't have initiative are stuck with what they build for themselves!
Stop "wanting a job" and start "thinking about a future!"
Hell, most people honestly don't know most of their own neighbors!
In fact, with at an average age of 57, and the overwhelming majority not even getting 10% of their wealth from inheritance (and over half not even $1) ...
The overwhelming majority of US millionaires are largely comprised of people who properly saved for their retirement!
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Yes, I know.
But people like myself actually read the OMB reports.
The first time I did was in 1993, after Clinton's first year.
Yes, people who are in the top 2% make around $150,000/year.
As I said, they don't even bring half of that home, and most of their income is rather fixed.
Maybe $10,000-20,000/year is discretionary in the end, because they have other, non-liquid assets, obligations, etc...
Feel free to assume I'm pulling them right out of my ass.
You are free to assume I pull everything out of my ass.
But if you want a good read, check out The Millionaire Next Door.
Even the liberal NYTimes had a great article:
Premium Link Upgrade
The median income of the US millionaire is under $150,000/year.
The mean average (including the people that skew the curve up) is only $247,000/year.
The reality is that most of their investments and value is so tied up, they live just like you and I for the most part.
Huh? It is extremely rare to find people who make 7+ figures a year.
You're talking 1 in 100,000. There are only a few tens of thousand in the US.
The median wealth of the US millionaire is $1.6 million.
Let's say they didn't work and assuming those assets had an annual return of 5%.
They would get $80,000/year from those assets, before considering capital gains or income taxes.
In other words, they still can't live like millionaires as people think of them.
Most of them choose to work, and recycle as much as they can back into investments.
Back into jobs for other people.
Again, stop listening to the media, stop watching Hilton, and get the real facts!
It wasn't that the "AOC didn't work, it did!"
And most states would not pass the US Constitution until a Bill of Rights was added.
It was written by the states, and not the Continental Congress.
I rather tired of people thinking they even have the grounding to bitch about "the rich."
This country was founded on opportunity, and those who don't have initiative are stuck with what they build for themselves!
Stop "wanting a job" and start "thinking about a future!"
Hell, most people honestly don't know most of their own neighbors!
In fact, with at an average age of 57, and the overwhelming majority not even getting 10% of their wealth from inheritance (and over half not even $1) ...
The overwhelming majority of US millionaires are largely comprised of people who properly saved for their retirement!
