Americans Now Need at Least $500k a Year to Enter Top 1%

Re:Americans Now Need at Least $500k a Year to Enter Top 1% by wincy on Wednesday October 16, 2019 @08:50PM (#21277874)

Assuming most of those people are 65+, wouldn’t most of them be dead in 20 years?

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by blawson on Wednesday October 16, 2019 @09:17PM (#21278037)

And passed that wealth along to their descendants?

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by sorum on Wednesday October 16, 2019 @11:14PM (#21278622)

Valid point. The counter-points I most often come across are:

- Estate taxes: the government wants its pound o' flesh

- Squandering: the wealth is generally gone by the 2nd or 3rd generation. I remember this from The Millionaire Next Door (W. Danko), which is from the 90's, but I haven't come across anything to date stating that the trend has been reversed.

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by AnimalMuppet on Wednesday October 16, 2019 @11:24PM (#21278660)

But typically more than one descendant. That divides the pie.

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