Could you live on $471,465 per year?

[IM2]

Money would quickly become almost worthless and almost everyone would be equally poor

The thing is that we would be dealing with the same amount of money we currently have, except there wouldn't be one person with 600 billion and another with 8,000.

 

[Eman623]

People talk badly about socialism and Marxism. Most don't even know what they are. But here is a question for you:

Could you live on $471,465 per year?

If Wealth Was Evenly Distributed Across the US, How Much Money Would Every Person Have?​

According to the Federal Reserve, U.S. households hold $160.35 trillion in combined wealth, which is the value of every American’s assets minus their liabilities.

To say it’s distributed unevenly is too much of an understatement to even qualify as an understatement. The bottom 50% of the country shares less than 3% of that enormous pie, while the most fortunate 10% gorge on nearly all of it.

Here’s a look at how much money each American would have if every person got an equal slice of the country’s wealth.

According to Google’s Data Commons project, the U.S. is home to roughly 340.11 million people.

If they divvied up the country’s $160.35 trillion jackpot equally, each would have about $471,465. That’s $942,930 per couple. If a couple had two kids, the four of them would be sitting pretty with $1.89 million.

MSN

It wouldn't be $471,465 per year. It would be a one-time windfall of $471,465 and an inflationary spike to end all inflationary spikes. When literally everyone has that much cash to spend, then a loaf of bread would be $200, and an iPhone would be $20,000.

Within 3 years, 50% of the country would hold 3% of the total wealth again.

Personally, I'd lose in this arrangement. There are 4 people in my household, but out net worth is larger than 1.89 million. Not by too much, but still larger. Most of our wealth is in a 2000 sq ft house in the most unaffordable city in the mainland USA. But there's also the 401K and the IRA and other misc. investments, including stock options that have not panned out but may at some point.

Who knew I was the 1%?

 

[Orangecat]

It wouldn't be $471,465 per year. It would be a one-time windfall of $471,465 and an inflationary spike to end all inflationary spikes. When literally everyone has that much cash to spend, then a loaf of bread would be $200, and an iPhone would be $20,000.

Within 3 years, 50% of the country would hold 3% of the total wealth again.

Personally, I'd lose in this arrangement. There are 4 people in my household, but out net worth is larger than 1.89 million. Not by too much, but still larger. Most of our wealth is in a 2000 sq ft house in the most unaffordable city in the mainland USA. But there's also the 401K and the IRA and other misc. investments, including stock options that have not panned out but may at some point.

Who knew I was the 1%?

IQ2 wants your house.

 

[Superbadbrutha]

Hello IM2 Superbadbrutha they ain't inventing 10G in Somali or Anti-lock brakes in Bangladesh much, How is your Venezuelan IPAD doing you dumb OX? Maybe your Cuban lawnmower? They can't even copy and steal right.

The USA has inventions and sells useful items, increasing global productivity. The USA has 250 years of practice at it. American Chinese and Indians are big brains all over Silicon Valley inventing stuff. They want to come here BECAUSE when they hit it big, it pays off. Bill Gates may have stolen Microsoft OS, but he made it work. Now he has $100B. Would he get that in North Korea?

Blah, blah, blah, go educate yourself JB Stoner instead of just running that DS.

 

[hadit]

You live in a socialist country, Canadian. You haven't moved here yet.

In my experience of starting a business and watching it grow, wealth is created by people working together and producing products and services that people want or need.

You say you started a business then watched it grow. Did you not risk your personal wealth for the company? Did you not work insanely long hours to make sure it got off the ground and prospered? A businessman who starts a company then just watches it grow sounds ludicrously impossible. If it was that easy, everyone would do it.

It isn't made by a single rich person.

Where does the investment come from that enables a company to grow? Where does the money come from to pay employees when a company is just starting out? Cash flow is one area that kills many businesses before they get a chance to establish it. Somebody puts wealth at risk and employees do not.

That single rich person could have the greatest product of all time, but if he or she cannot produce enough of it to meet the demand promptly, that rich person uses their money. That single rich person then needs workers, and without those workers there is nothing. Therefore, everybody SHOULD be paid the same. Now STFU.

When employees share in the risk of a company, they should share in the profit of the company. IOW, the money to start and grow a business comes from someone who invests it, hoping for a return, not employees. That investor faces the risk of losing their investment while the employee faces at most the loss of a job, not their entire life savings like the owner who put his wealth on the line for the company.

Now, as for everyone being paid the same, that is simply false. An employee who contributes work that doesn't require a skill to be mastered contributes work that is worth less than someone who contributes work that requires skill, education and training. It's just that simple. No, a floor sweeper should not be paid the same as an IT guy that designs and develops data solutions for the company.

 

[tshrimp]

The countries that try this tend to all end up equal....equally poor. Even our poor have it better than most.

 

[Toddsterpatriot]

It wouldn't be $471,465 per year. It would be a one-time windfall of $471,465 and an inflationary spike to end all inflationary spikes. When literally everyone has that much cash to spend, then a loaf of bread would be $200, and an iPhone would be $20,000.

Within 3 years, 50% of the country would hold 3% of the total wealth again.

Personally, I'd lose in this arrangement. There are 4 people in my household, but out net worth is larger than 1.89 million. Not by too much, but still larger. Most of our wealth is in a 2000 sq ft house in the most unaffordable city in the mainland USA. But there's also the 401K and the IRA and other misc. investments, including stock options that have not panned out but may at some point.

Who knew I was the 1%?

It wouldn't be $471,465 per year. It would be a one-time windfall of $471,465 and an inflationary spike to end all inflationary spikes. When literally everyone has that much cash to spend.....

Technically, everyone would have $471,465 worth of housing, stocks, bonds, etc.
To get cash, IQ2 would have to sell that stuff. Who is going to buy it? The rich guy who just got all his stuff seized and redistributed?

 

[SassyIrishLass]

It wouldn't be $471,465 per year. It would be a one-time windfall of $471,465 and an inflationary spike to end all inflationary spikes. When literally everyone has that much cash to spend.....

Technically, everyone would have $471,465 worth of housing, stocks, bonds, etc.
To get cash, IQ2 would have to sell that stuff. Who is going to buy it? The rich guy who just got all his stuff seized and redistributed?

It's a ridiculous attempt. Just ridiculous. It's no wonder leftist cities and states are mired in debt, they don't understand economics

 

[SweetTea]

Therefore, everybody SHOULD be paid the same.

Why didn’t you answer the previous poster’s question? The QB and the water boy for an NFL team should both make the same, right?

 

[drudge X]

Why didn’t you answer the previous poster’s question? The QB and the water boy for an NFL team should all make the same, right?

He may expand further and say a neurosurgeon should earn the same wage as a cashier at Walmart.

 

[80zephyr]

White man, shut the **** up. You are a racist, therefore Democrats don't have to scream a damn thing. I get tired of you racist mothrrfuckers whining because we refuse to take your bulshit. Whites didn't get very much by earning it. Your skin color has given you pathways denied to others and it still does. Yet you come in places like this pretending it desn't even while you white ass is praticing the exclusion you say desn't happen anymore. Nobody wants to read your bulshit. Post on topic or get the **** out of this thread.

Why do Asians do so well in this country?

 

[drudge X]

Why do Asians do so well in this country?

It's laughable when leftists blame white privilege is keeping minorities down but miraculously, white privilege somehow propelled Asians to the highest income earners.

 

[Toddsterpatriot]

It's a ridiculous attempt. Just ridiculous. It's no wonder leftist cities and states are mired in debt, they don't understand economics

Our black mayor in Chicago is just as dumb as IQ2.
He wanted a $1-$2 tax on every transaction on the Chicago exchanges.
To raise $100 million a year.

Aside from the fact that the CBOE and CME will trade probably 7 billion contracts this year, it's mostly done electronically. They could literally flip a switch and "trade" them in Indiana or Florida, in seconds.

 

[Orangecat]

Blah, blah, blah, go educate yourself JB Stoner instead of just running that DS.

IOW, you’ve got nothing.

 

[Eman623]

IQ2 wants your house.

Can't blame him. It's great.

But no.

 

[Eman623]

It's a ridiculous attempt. Just ridiculous. It's no wonder leftist cities and states are mired in debt, they don't understand economics

Wealth inequality is highest in those cities too.

 

[sartre play]

There is definitely room between what we have today and communism. The wealthy have characterized anything the drives fairness as socialism. Unions? SOCIALISM! Worker protections? SOCIALISM!! Time off for maternity? SOCIALISM!! Minimum wages at a working wage level? SOCIALISM!! Having the wealthy pay more than their fair share to offset their more than fair wealth? SOCIALISM!!!

You knuckleheads will never free yourselves from your puppeteers.

We will NEVER all be equal, we are not all the Same.
In fact it has been getting a lot worse between the haves and those who struggle to gain, or just maintain what they do have.
Pages and pages TONS of words of how we got to this place in history HAVE BEEN WRITTEN. Who is interested?
MY way or the highway seems to be the new rule.
TO MUCH POWER CORRUPTS. Winning seems more important than getting it closer to what COULD be better for most.

 

[citygator]

We will NEVER all be equal, we are not all the Same.
In fact it has been getting a lot worse between the haves and those who struggle to gain, or just maintain what they do have.
Pages and pages TONS of words of how we got to this place in history HAVE BEEN WRITTEN. Who is interested?
MY way or the highway seems to be the new rule.
TO MUCH POWER CORRUPTS. Winning seems more important than getting it closer to what COULD be better for most.

I think we are looking for something in between the growing feudalist system of lords and peasants we are moving toward and a kumbaya communist commune. I dont know what right wingers are afraid of in a captialist democratic system with strong protections to keep it from unwinding via greed and cruelty. But they are. Right wingers would rather have it all come crashing down rather than 1 person somewhere gets something they think isnt "deserved". Its crazy. SNAP (Food Stamps) have less than 1% abuse but that is enough to throw out 99% according to the right.

 

[MarathonMike]

Exactly.
My parents had nothing, my dad in the military enlisted. But both my parents worked hard, educated themselves, got better jobs, and ended up living very well.

I'm glad your parents did well. Mine struggled all their lives which served as a motivation to me to do better.

 

[sartre play]

Society is crumbling because of the idiotic policies of the left and globalists.

Their fiscal, social, and even foreign policies have screwed this country over. That has little to do with capitalism, in fact their policies have been following the Marxist model.

NORMAL reply on this site. Blame everything on one person, one party , one type of person.
Never take any responsibility or Blame, on Your one person, your party, or type of person.