$10,000 is a lot of money, right? If you made $10,000 every day since 1776, you still wouldn't have $1 billion today.
Stop defending modern day robber barons.
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Besides just being fair-another way I came to the conclusion of tax wealth at a certain point- is that I want to lower yearly income tax for all. I know this may not please all but someone who makes a few million doesn’t need to have half of it taken. But tax any worth at $10 mil
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37% on earnings above $523k is not half and anything before that is taxed at even lower rates.
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Excellent point, apologies but I had to do the math before agreeing 
$898,641,000 (I only did years but did include the extra day for leap years 
).
$898,641,000 (I only did years but did include the extra day for leap years ).9
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I love these perspectives. To make your FIRST billion, you’d have to have been making a million per year since the time Vikings were still conducting raids, or 120 grand a year since around the Stone Age.
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Don’t argue. Just do the math:
10,000 x 365 = 3,650,000/yr.
1,000,000,000 / 3.65 million = 273.7
It takes roughly 274 yrs to accumulate $1 billion.
1776 + 274 years = A.D. 2052
The post is correct. Could even have phrased it: “…you STILL wouldn’t have $1B by mid century!”
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I thought it was common knowledge that no one works for a billion dollars and that you’d have to be incredibly lucky to even have a chance to get there but I guess I was wrong lmao
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most people think if they keep their nose to the grindstone long enough, they’ll be rich one day. that’s why they support low taxes for the rich…one day when they’re rich they want those tax breaks for themselves
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I don't defend them, I deride them.
The media could not be played.
Reload
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that's creepy
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okay but what's the mechanism for keeping companies from becoming more valuable & thus raising the stock price?
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Business regulations to reduce profitability/ fundamentals, and trading regulations to prevent speculative bubbles. There are also demand and supply levers to pull to prevent price inflation of physical assets
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If you made a penny, doubling it every day for 30 days straight... boom, 1billion.
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No. $5,368,709.12 after 30 days
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When I think about the wealthy I usually imagine the inverse. How could I spend $10,000 every day? Is it really all relative?
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I didn’t believe you because it doesn’t sound possible so I pulled out the old handy calculator app… And what the fuck. I see the numbers it front my face and still don’t believe you
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It's OK - our numbering system collapses orders of magnitude. So a hundred million just looks like a million with a hundred added.
One reason the poorly educated identify with the rich is failure to grasp orders of magnitude.
It also feeds disbelief of evolution and Deep Time.
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Just think, there are well over 700 billionaires in the US now & we only had just over 600 in early 2020. That is up from just 60 something in 1990. These people have an estimated 5.1 TRILLION collectively & gained over 1 TRILLION each year during the pandemic, in the US alone.
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They made a killing during the pandemic
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As long as the top 1% doesn’t support giving basic needs to the people I’m all for a wealth tax. And by support I’m talking about the Walmarts of the world actively keeping people in poverty for their own profits.
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if you took a few of those $10ks, bought some land and held on to said land for 300 years, you would have more than $1B worth of land today. Getting the initial $10k may be "robber baroning", the rest is simply asset inflation
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Just saw article that Rolls-Royce had their best sales numbers ever… wow.
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At $1 million a day it only takes 1,000 days to spend $1 billion. That's roughly 2.74 years.
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If you got $1 per second, it would take 11.5 𝗱𝗮𝘆𝘀 to have $1,000,000.
It would take 31.5 𝘆𝗲𝗮𝗿𝘀 to have $1,000,000,000.
Elon Musk is worth 𝟵𝟰𝟱𝟬 𝘆𝗲𝗮𝗿𝘀 worth of $1 per second.
I'm not sure exactly what that means, but I guess I'm okay with him paying more taxes.
The media could not be played.
Reload
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But Musk is running the world’s biggest Ponzi scheme.
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