The top 18% of Americans have a net worth of $1,000,000 or more, and the top 1% of Americans have a net worth of $11,000,000 or more. 1 in 5 Americans have $1,000,000 or more in assets. For those from low-income families who essentially inherit nothing, $1,000,000 alone, after taxes, is a very difficult task to achieve that most people who are very disciplined and work very hard won't achieve until they're older, likely in their 40s, and this would require far above average effort, and 1/5th of Americans have this level of wealth.
How the fuck is someone supposed to acquire $11,000,000 through hard work? You could tell somebody that if they did X, Y, and Z, and were very consistent and disciplined, that they could, somewhat realistically, become an elite athlete, as in be in the top 1% in an athletic discipline. You absolutely cannot say the same with entering the top 1% wealth-wise.
Let's say there is a very disciplined and intelligent 12-year-old boy by the name of Jacob. Jacob works really hard in school, getting top grades, and is interested in entering the top 1% by the time he's 35. (He doesn't want to wait until he's some old fuck before he's rich.) Let's give Jacob an IQ of 130 to give him a bit of an advantage without making him a literal genius and have him be born into a low income family with no prospect of inheriting any wealth. What should Jacob do from this moment to virtually ensure that he will develop a net worth of $11,000,000 by the time he's 35? Don't forget about taxes. When you're a high earner, the government takes away half of your income.
Also, it's worth noting that income inequality is about the same in the US as it is in Europe, but wealth inequality is way worse.
>>81619567 (OP)>net worth of $11,000,000 by the time he's 35Why should it be inherently possible to go from bottom 50% to top 1% in just 10-15 years? If one caught the AI boom and had a relevant degree, then they could theoretically make around 500-700k, and with that, you can reach top 1% in 30 years or so, excluding schooling. Otherwise, getting rich is usually about risk taking, specifically about starting businesses.
Why do you even need to be in the top 1%? If you have normal standards, i.e. you do not want to own a yacht and several expensive holiday properties, even $1M is plenty enough wealth.
>>81619567 (OP)Wealth inequality comes from inheretance, tax loopholes, and private ownership of infrastructure. Money doesn't come from good deeds -- money comes from monetization. There is nothing beneficial to society that results from a private equity firm cannabilizing a subsidiary for speculative value. Know this, and you will understand how megacorps are growing at the expense of the economy around them.
>>81619608getting rich shouldnt be about risk taking, its completely retarded that people accept gambling with their livelihoods as normal, such a cucked amerimutt mindset
kuroneko
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>>81619608>Why do you even need to be in the top 1%?It's more of a competitive thing. Some people like to show off that they're in the top 1% in a particular discipline, especially athletes. In most cases, entering the top 1% requires a ton of discipline and hard work, but is still doable (consider genetics). Some people worship money and have the philosophy that if they're doing something that isn't making them money, they're wasting their time. Entering the top 1% in terms of money must be the most difficult top 1% to enter, but the thing that's really fucked up about it is that you can inherit being in the top 1% in terms of money. Coincidentally, my elementary school best friend was born into the top 1%. Thinking about him is what has fueled me to obsess over this topic. It's his father who was the guy who believed that anything you do or learn that doesn't make you money is a waste of time. I started a whole vent thread on him.
https://desuarchive.org/r9k/thread/81161149/
>>81619567 (OP)I don't hate them but I want them to pay their fair share of taxes instead of hiding behind smokescreens. And I want the government to redistribute their tax money fairly instead of giving it to companies like Tesla and shady contractors.
>>81619567 (OP)Low IQ. Most millionnaires are senior citizens. Basically they are alaready a millionaire if they own a paid-off house and some savings.
>tfw top 18%
its not my fault my mom and dad were like that T_T
>>81619567 (OP)He'd have to start a business and find investors. The exact nature of the business doesn't matter that much, he will automatically make more than he would waging.
>>81619567 (OP)YOU WON'T DEVELOP A NET WORTH OF THAT MUCH BY THE TIME YOU'RE 35, MOST LIKELY, UNLESS YOU WERE BORN INTO IT. MOST MILLIONAIRES MAKE IT THROUGH OWNING A BUSINESS AS WELL AS COMPOUNDING INTEREST ON INVESTMENTS. SHIT, WARREN BUFFET GOT LIKE, WHAT, 90% OF HIS WEALTH AFTER HE WAS 60? EVEN THEN IT'S NOT LIKE YOU NEED TO BE IN THE TOP 1% TO LIVE COMFORTABLY.
>>81619688YES ANON I'M SURE ONCE THEY PAY LE FAIR SHARE OUR SUICIDAL STATE WILL FINALLY STOP SPENDING TENS OF BILLIONS PER DAY AND THAT MONEY WILL SURELY STOP GOING DIRECTLY TO PRIVATE CONTRACTORS LMAO
>>81620220A restaurant is one example of a business. The issue with restaurants is that they can both grow and die in popularity, and you can't really open up multiple restaurants unless you're planning on starting some bullshit fast food chain. The easiest "business" to scale would likely be being a landlord. You gradually buy more houses and apartment complexes with time, and you just delegate more and more work to others. Your job essentially becomes to make sure everyone else is doing their job while making disgustingly large amounts of money, like a typical major business executive. Of course, real estate investment is a skill, but in practice, the wealthiest people in real estate investment can make massive fuckups while still maintaining enormous incomes. One example of a massive fuckup would be gentrifying a low-income apartment complex into a high-income apartment complex, with the apartment after gentrification taking three years to achieve something like a 50% occupancy rate. Of course they lost money. Fun fact, those low-income apartment complexes that get gentrified are still low-income at their core. The overall build quality is very shitty, with very thin, poorly-insulated walls and piping and low ceilings, along with a few other things. The main issue is the walls. You can still hear all the words your neighbors say. The poorly insulated walls technically mean more money spent on heating and air conditioning, but the poorly insulated piping is just annoying. You have to wait forever for the water to get warm, and it gets cold again less than an hour later.
Even if you dedicated your life to getting rich and were very disciplined and intelligent, statistically, you most likely wouldn't enter the top 1% in your lifetime.
