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Survey: Almost 50% of Americans Consider Themselves ‘Broke’ (www.marketwatch.com)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 2 months ago (1 children)

I think you might be failing to envision just how much money a billion dollars is. If your net worth (Assets - Liabilities + Equity) = one billion dollars, you are among the wealthiest of the wealthiest people in the world.

Now, that probably isn't all just sitting in investments. I'll be very conservative and say half of it is. If you earned 4% annually on that $500M, which is a pretty decent average, you would gross $20 Million.

I don't know about you, but if I had $20 Million, I would never have to work another day for the rest of my life. You see where I'm going with this?

[–] [email protected] 1 points 2 months ago

Wouldn’t the $20 Million be subject to the 100% income tax at that point, meaning the net worth billionaire wouldn’t be able to earn any income as it’s all taxed away?