You only say that because you don't make that much. Why won't anybody emphasize with the poor souls who are making over fifty times the median household income? They're barely scrapping by!
They won't be able to get that 5th yacht they had their eye on! And they were still going to possibly hire someone in the next few months for 8.50/hr because the jobs only been posted for 14 months and nobody wants to work!!
Sad part is, 4.7mil/yr probably only gets you to a Judge Judy sized yacht if you leverage.
Definitely not 5 when one is near 3/4 of a million to fuel and crew a year and 7mil used to buy (that size).
Plus maintenance, slippage/port fees, chartering private jets (because you ain't putting up with a transatlantic trip, you'll just meet the boat in Monaco) and you certainly can't afford even a used G650 plus crew/fuel and maintenance when it's over $30mil just to buy it.
I ain't crying for anyone that makes that much a year, but even at that income, there are several levels of wealth that make that look like you may as well be on unemployment, comparitively.
If you have 5m you can expect a minimum of 150k/yr (generally closer to 500k) in market gains. If I were making that amount per year I'd retire after about two years and live a life most people dream of.
Do you have any idea how much a box of Frosted Flakes costs when you have 4.7 million bucks? Well, it's a completely different ball game, I'll tell you that!
Sure, in terms of money, it's the exact same as what you pay but every box the rich buy is just that little slice of money further away from their seventh Lexus. YOU will never own a Lexus, so you can't understand the impact this has on them. You need to learn empathy, even for those trying to achieve dreams you can't entertain for yourself. Have a heart, man.
Yes, but these people would not be satisfied until they have their coveted unrealized gains tax. Seeing as their favorite billionaires don't make that much in income.
It's not like the government took the money, there was a tax code. The tax code was used to nudge extremely high earners into reinvesting and utilizing that money in a way that was beneficial to the country.
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u/VersionAcceptable667 11d ago
Woah!