this post was submitted on 22 Jan 2024
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[–] assassin_aragorn@lemmy.world 45 points 10 months ago (3 children)
  • 10,000 seconds = 2.8 hours
  • 100,000 seconds = 1.2 days
  • 1,000,000 seconds = 11.6 days
  • 10,000,000 seconds = 116 days
  • 100,000,000 seconds = 3 years
  • 1,000,000,000 seconds = 32 years

Don't be fooled. It's billionaires against everyone else. Even multimillionaires are closer to the everyday person. The working class consists of two groups: those without disposable income (nominally those with "hours" in income), and those with some disposable income (days in income).

If they ain't got a "year" in income, their they're one of us.

[–] rando895@lemmy.ml 17 points 10 months ago (1 children)

I think it's better to think of it like this:

How do you make your money? Do you need to make a wage? Or can you let your property (land, buildings, stocks, etc.) be your income?

The real amount doesn't matter, it's whether you have to work to live or not.

If you have to work, you are the working class. If you don't, you are the owner/capitalist class. But your analysis is still somewhat correct: millionaires and small business owners are closer to the working class than billionaires, it does still matter how they make it though.

[–] assassin_aragorn@lemmy.world 5 points 10 months ago

I think I generally agree, yeah. There's something to be said too for if your money is made by owning or by maintaining. I don't give a shit about landlords who rent shit out and do nothing else, but I think building administrators who fix issues and handle maintenance are probably working class.

Comes back to what you were saying. Do you make money through labor, or through ownership?

[–] Dagwood222@lemm.ee 12 points 10 months ago

Modern America is like Tsarist Russia. A tiny elite, a small 'middle class,' and a vast army of poor people.

[–] Pipoca@lemmy.world 11 points 10 months ago (1 children)

It's generally considered safe to withdraw 4% of your nest egg each year. Someone with 2 million can support an 80k/year retirement.

The average multimillionaire is literally just any person with a six figure salary who has been saving for retirement and is nearing retirement. You basically can't retire without at least being a millionaire.

[–] assassin_aragorn@lemmy.world 5 points 10 months ago

Yeah the big difference is now much it takes to amass that money. If we have a capitalist system, there's nothing wrong with workers saving money to retire with a few million.