7 ms·
What's a VHCOL and W2? Anyways, I dont get your point. Rich people work ALOT! More for sure than 9-5 usually but they work. You seem to be confusing rich with
by hungryforcodes 4y ago
What's a VHCOL and W2?
Anyways, I dont get your point. Rich people work ALOT! More for sure than 9-5 usually but they work. You seem to be confusing rich with "independently wealthy", aka: I inherited a large sum of money from my father Sam Walton, etc.
FAANG people are absolutely rich compared to anyone else and easily make the 1%. Think about that: out of 100 people do they make more than the other 99 people that work in cafes and Amazon warehouses?
The answer is yes.
- plokiju 4y ago“ According to the Economic Policy Institute, the average annual wage of the top 1% was $823,763 as of 2020”[0] Or “According to recent studies, to be in the top 1% of earners in the U.S., you need to bring in an annual salary of at least $597,815. This means that the other 99% of earners in the U.S. make less than this amount per year. When it comes to net worth, the top 1% of Americans have a minimum net worth of around $11.1 million.” Even within FAANG, most people won’t be coming near that [0] https://www.epi.org/blog/wage-inequality-continued-to-increase-in-2020-top-1-0-of-earners-see-wages-up-179-since-1979-while-share-of-wages-for-bottom-90-hits-new-low/ https://www.epi.org/blog/wage-inequality-continued-to-increa... [1] https://www.forbes.com/advisor/investing/financial-advisor/are-you-in-the-top-1-percent/ https://www.forbes.com/advisor/investing/financial-advisor/a...
- hungryforcodes 4y agoI think my definition is actually useful. Your definition means if I am on a bus with 100 people, at least one of them has a net worth of 11 million USD. I don't think so. Totally don't believe this.
- Armisael16 4y agoThat would be true if the people on the bus were selected truly randomly from the full population. They aren’t - not even close.