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> As an aside, I personally find it interesting how this mantra started off as "millionaires and billionaires" being evil, until the movement's leader became an
by InitialLastName 3y ago
> As an aside, I personally find it interesting how this mantra started off as "millionaires and billionaires" being evil, until the movement's leader became an overnight millionaire himself. Now, apparently, it's just billionaires that are evil.
Not sure who you're referring to, but I think it's more likely that, thanks to inflation and other "growth", a far larger portion of the population have reasonable expectations to be "millionaires" on paper in their lifetimes. Even by now the word covers much of the upper middle class by the end of their career (the median US net worth at end-of-career age is ~$250k [0]). All else held equal the median peak wealth could reasonably cross $1M in the next 40 years, and of course half of the population will be above that.
Maybe the more apt word is "oligarch", but the West prefers to deny having those.
[10] https://www.federalreserve.gov/econres/scfindex.htm https://www.federalreserve.gov/econres/scfindex.htm
- Alupis 3y agoAfter a failed Presidential Campaign, Bernie Sanders became a millionaire due to a very lucrative book deal[1]. Overnight, he dropped the millionaire bit from his stump speech, converting what used to be a screed against "Millionaires and Billionaires" to just "Billionaires"[2]. His base didn't seem to notice, and slid right into the modified "billionaires are evil" mantra. The hypocrisy is amazing to see. [1] https://www.forbes.com/sites/chasewithorn/2019/04/12/how-bernie-sanders-the-socialist-senator-amassed-a-25-million-fortune/?sh=5df4832e36bf https://www.forbes.com/sites/chasewithorn/2019/04/12/how-ber... [2] https://www.cnbc.com/2020/02/13/bernie-sanders-says-millionaires-less-in-2020-democratic-primary.html https://www.cnbc.com/2020/02/13/bernie-sanders-says-milliona...
- InitialLastName 3y agoIf you think Bernie Sanders was the leader of the "rich people are probably bad for our society" movement, I have a manifesto you should read.
- Alupis 3y agoThe resurgence of this screed as a political movement was a creation owed to Bernie Sanders, without any doubt. He made is fashionable. At the time, the "millionaires and billionaires" thing went global, and subsequently, when he dropped billionaires from his screed, so did the rest of the world. So much of global political trends follow the US. See the various Trumpesque figures that popped up seemingly in every country, and note that despite the country of origin, you will only hear about evil billionaires these days.
- kooooooool 3y ago[dead]
- hakfoo 3y agoWhile the formal definition of a millionaire or billionaire is based on net worth and assets, I think the issue is likely "philosophical" billionaires. It's a fundamentally different lifestyle, culture, and philosophy. We can tell the difference between "Inherited Grandpa's house in Los Angeles, net worth $1.4M, hobbies include PC gaming and woodworking" from "Owns the lion's share of a mining conglomerate, net worth $680M, hobbies include holding Congress hostage to preserve his future revenue streams."