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Money quote: <i>Currently, a person must have a net worth of $1 million or an annual income of $200,000 if single or $300,000 if married (and filing jointly) to
by jbooth 17y ago
Money quote: <i>Currently, a person must have a net worth of $1 million or an annual income of $200,000 if single or $300,000 if married (and filing jointly) to be an accredited investor. The senator's proposed bill doesn't say what inflation adjustment will be used to convert these numbers, established in 1982, to today's dollars. But if we use the Bureau of Labor Statistics inflation calculator to adjust these figures on the basis of the consumer price index, then the annual income requirements for accredited investor status would become $449,000 if the investor were single and $674,000 if the investor were married, while the net worth requirement would become $2.25 million.</i>
So, in other words, the bill's not even finished being drafted and they made some noise about maybe adjusting some figures, but they have CPMs to sell so they'll just assume "adjust" means "multiply by 2.25" and get the snappy headline.
That said, Dodd clearly shouldn't do anything to hurt actual startup investment.