2 ms·
Inherited wealth is different than income. If I inherit a million dollar house, then sit on it for twenty years until it is a 10-million dollar house, I have 1
by sandworm101 4y ago
Inherited wealth is different than income. If I inherit a million dollar house, then sit on it for twenty years until it is a 10-million dollar house, I have 10-milion in inherited wealth but only 1m of "income" (IRS taxable income). The next 9 of income will only come if/when I sell the house. So comparisons between inherited wealth and actual income across decades are very very tricky.