If you keep working and investing etc etc, sure. That’s not what I said.
I said to live off of it, which is generally the implied point of the “millionaire” goal. Retirement and whatnot. The generally accepted number is you can safely pull down (depending on the year and performance etc etc) ~30k, MAYBE 40k per mil you have invested. Fine if you’re still in the workforce and all that but it’s not paying the bills on its own if you have a single M.
That’s giving them too much credit. They’re just greedy and trying to manipulate markets to hoard as much wealth as possible and they don’t care what happens to the workers.
I agree with your stance on policy, but honest question here:
I hear lots of theories that the ownership class are trying to limit reproduction of the classes below them.
Why though? Don’t they want a huge population of desperate workers that keep fueling their profits and keeping their well-manicured hands from doing any real work?
I dunno, I wonder sometimes if we apply Hanlon’s Razor and it really is an extreme example of incredibly shortsighted capitalist stupidity: “Yeah we’re running out of workers but that’s not a problem THIS quarter…”
You want to keep them fighting amongs themselves so you limit their resources and opportunities. Don’t want a lot of them suddenly realising there’s a lot more of them than there are of you.
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Being a millionaire isn’t even enough anymore. You have to be at least a multimillionaire to live off of it.
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Uhh no. I could do just fine with the rest of my life and a million dollars.
If you keep working and investing etc etc, sure. That’s not what I said.
I said to live off of it, which is generally the implied point of the “millionaire” goal. Retirement and whatnot. The generally accepted number is you can safely pull down (depending on the year and performance etc etc) ~30k, MAYBE 40k per mil you have invested. Fine if you’re still in the workforce and all that but it’s not paying the bills on its own if you have a single M.
Nope. 1 million.
That’s giving them too much credit. They’re just greedy and trying to manipulate markets to hoard as much wealth as possible and they don’t care what happens to the workers.
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I agree with your stance on policy, but honest question here:
I hear lots of theories that the ownership class are trying to limit reproduction of the classes below them.
Why though? Don’t they want a huge population of desperate workers that keep fueling their profits and keeping their well-manicured hands from doing any real work?
I dunno, I wonder sometimes if we apply Hanlon’s Razor and it really is an extreme example of incredibly shortsighted capitalist stupidity: “Yeah we’re running out of workers but that’s not a problem THIS quarter…”
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You want to keep them fighting amongs themselves so you limit their resources and opportunities. Don’t want a lot of them suddenly realising there’s a lot more of them than there are of you.