Just philosophically curious about where public opinion feels that that the “Millionaire” line seems to be drawn these days. The average cost of an average house is $1 million. Does having $1MM in cash do it? $1MM Retirement Accts? How many millions does someone need to have today to legitimately consider themselves a ”Millionaire”? Are you still a millionaire if your house in San Clemente falls off the cliff into the Pacific Ocean?
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Edited: Mar 23, 2023
Today…How much money defines a “Millionaire”?
Today…How much money defines a “Millionaire”?
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I’d say $10 million in equity. You lock it up anyway you choose. House. Stocks. CAsh In bank. But $10 million is still a lot of money. It’s not Uber rich throw money away rich but it’s definitely millionaire status.
but remember. Liberals only want to go after the super rich. Remember when they were only going to go after people making 75k a year or more? Those were the high wage earners. So we get the tax bracket set up to punish them.
then they create inflation and soon many people make 75. Many people are over taxed and the libs get you again. They’re the kings of selling now riches and winning future collections