Current Events > 'Billionaires are bad' 'Wtf millionaires are really good people and stuff!'

(+) Yeah! (+)

Why does this always happen?

Person 1: Billionaires have too much money. No one should have that much. It is bad.

Person 2: Wtf, should people not be allowed to have 1 million? I want 1 million. People with a few million are good people!

Tell me you don't really understand the difference in magnitude between a million and a billion without telling me you don't really understand it.

A million dollars is somewhere between 10 and 20 years' income for an average person. While not all at once, most people will have over a million dollars in total throughout their life. A billion dollars is somewhere between 10,000 and 20,000 years' income for an average person. They're not comparable and it's completely reasonable to treat them as very different.

Should be clear that that doesn't mean millionaires are inherently good people, still; they're often not. But it's not remotely in the same category of "more money than they could ever use, it's just a high score chart where they compete with each other despite all the good they could put it towards" as billionaires are.

Derp, The Topic

MacadamianNut3 posted...

Derp, The Topic

Despite how often I talk about this stuff this continues to happen and keep happening. This is part of why I keep talking about it.

WingsOfDumb

Trumble posted...

Tell me you don't really understand the difference in magnitude between a million and a billion without telling me you don't really understand it.

A million dollars is somewhere between 10 and 20 years' income for an average person. While not all at once, most people will have over a million dollars in total throughout their life. A billion dollars is somewhere between 10,000 and 20,000 years' income for an average person. They're not comparable and it's completely reasonable to treat them as very different.

Should be clear that that doesn't mean millionaires are inherently good people, still; they're often not. But it's not remotely in the same category of "more money than they could ever use, it's just a high score chart where they compete with each other despite all the good they could put it towards" as billionaires are.

Okay, except millionaire covers people who have 1 million dollars as well as people who have 999 million dollars, so it's not as simple as that either.

Turtlebread posted...

WingsOfDumb

I assume you are attempting to troll me but who knows, maybe this topic really went over your head?

EmbraceOfDeath posted...

Okay, except millionaire covers people who have 1 million dollars as well as people who have 999 million dollars, so it's not as simple as that either.

Sure, I'll agree with you completely there, but the TC specifically talked about people with "1 million" or "a few million", so I don't think he was referring to the all-but-billionaire segment.

EmbraceOfDeath posted...

Okay, except millionaire covers people who have 1 million dollars as well as people who have 999 million dollars, so it's not as simple as that either.

999 million we round up, they are a billionaire

A millionaire describes people between $1,000,000 and $999,999,999.99. There are amounts of wealth within that range that are reasonable and others that are ridiculous.

Being a billionaire starts one off on the ridiculous range.

The Popo posted...

A millionaire describes people between $1,000,000 and $999,999,999.99. There are amounts of wealth within that range that are reasonable and others that are ridiculous.

Being a billionaire starts one off on the ridiculous range.

You are being pedantic. And it doesn't matter because the people who go "Wtf! Millionaires are good people!"
are almost always referring to people who do not have 700 million fyi.

WingsOfGood posted...

You are being pedantic. And it doesn't matter because the people who go "Wtf! Millionaires are good people!"
are almost always referring to people who do not have 700 million fyi.

Yeah, okay, you're being wilfully obtuse at this point.

WingsOfGood posted...

You are being pedantic. And it doesn't matter because the people who go "Wtf! Millionaires are good people!"
are almost always referring to people who do not have 700 million fyi.

Its still a range. People on the lower end of the range do not have insane amounts of money, and are upper-middle class. Personally, I wouldnt look at anyone within the middle class as having too much wealth.

Trumble posted...

Yeah, okay, you're being wilfully obtuse at this point.

Hello mirror, it is I

Btw, Elon doesn't have only 999 million plus 1.

He has 300 billion which is 300,000 millions.

But of course let us try our best to equate him to someone with say, 400 million!!!
"If you don't you are being obtuse!!"

300,000 and 400 is VERY CLOSE!!!!

Trumble posted...

Yeah, okay, you're being wilfully obtuse at this point.

You both are.

My aunt is technically a millionaire but i wouldnt consider her "rich" just that shes not struggling.

I4NRulez posted...

My aunt is technically a millionaire but i wouldnt consider her "rich" just that shes not struggling.

So she has almost a million?

Ok?

I4NRulez posted...

My aunt is technically a millionaire but i wouldnt consider her "rich" just that shes not struggling.

is she a good person though?????

Turtlebread posted...

is she a good person though?????

Why do you think that matters? Do you still not understand this thread?

WingsOfGood posted...

Hello mirror, it is I

Btw, Elon doesn't have only 999 million plus 1.

He has 300 billion which is 300,000 millions.

But of course let us try our best to equate him to someone with say, 400 million!!!
"If you don't you are being obtuse!!"

300,000 and 400 is VERY CLOSE!!!!

1 billion and 300 billion are both in the "more money than anyone will ever need" category.

1 million, even 10 million, is not. (Though at 10 million I'd definitely say we're starting to get close to it.)

You're complaining that people don't treat the two as equivalent. It's probably because they're not equivalent.

WingsOfGood posted...

So she has almost a million?

Ok?

i dont know her exact financials but shes a doctor and my uncle is a handyman that rents out properties. I know she's definitely above 7 figures for her assets and net worth.

Turtlebread posted...

is she a good person though?????

a great person

Thats amazing thank you

Trumble posted...

You're complaining that people don't treat the two as equivalent. It's probably because they're not equivalent.

Holy shit, you actually think that is what I was saying?

LMAO

I am complaining that people EQUATE billionaires and millionaires.

LMAO

lmao holy shit

https://gamefaqs.gamespot.com/a/user_image/6/9/6/AAU9JxAAB-ZA.jpg

The average American will make over a million dollars in their life time.

You need 1000 lifetimes to have a billion dollars.

That's the difference.

@Trumble

@Turtlebread

Here is why I made this thread.

https://gamefaqs.gamespot.com/boards/400-current-events/79850858/961715333

Thread is billionaires shoud not exist.

Someone enters the thread upset saying his rich grandpa was a good person and they are tired of people saying rich people cannot be good people.

However, the likelihood his grandpa had a billion imo is probably 0. The likelihood he was a multimillionaire, like 400 million, is 0.
He probably owned a business and had 2-3 million if that.

So, do you still not understand the point?

Being wealthy is considered a bad thingbin general nowadays. I can't think of a single which character in never kids shows who isnt the stereotypical snobby, stuck up, and elitist rich type before developing out of that(sometimes).

And if they aren't then they're usually nothing more then plot devices for transportation, goods, or getting shady shut down via rich people contacts.

Tyranthraxus posted...

The average American will make over a million dollars in their life time.

You need 1000 lifetimes to have a billion dollars.

That's the difference.

Well said.

And to be like Elon, who is usually the billionaire in question (or Bezos) it would take 300,000 lifetimes

Im curious that when trillionaires start to be more publicly known are people going to start insisting that billionaires arent all bad?

The difference between having a million dollars and a billion dollars is about a billion dollars.

Comparison. I have 1000 dollars. You have 1 dollar. That's the difference between a billionaire and a millionaire.

Materus posted...

Im curious that when trillionaires start to be more publicly known are people going to start insisting that billionaires arent all bad?

They will still think billionaires are just millionaires so the answer is ofc yes.

I guess the moral here is that some millionaires are good people

Prismsblade posted...

Being wealthy is considered a bad thingbin general nowadays. I can't think of a single which character in never kids shows who isnt the stereotypical snobby, stuck up, and elitist rich type before developing out of that(sometimes).

And if they aren't then they're usually nothing more then plot devices for transportation, goods, or getting shady shut down via rich people contacts.

I don't know what you are referring to, but the assertion that this is a new thing is false.
See: Seto Kaiba
Maximillian Pegasus
Iron Man
Norman Osburn
Lex Luthor

Then again we have Batman.

Turtlebread posted...

I guess the moral here is that some millionaires are good people

The moral here is read the thread next time LMAO

LMAO yeah read it next time

Turtlebread posted...

LMAO yeah read it next time

Person 1: Billionaires have too much money. No one should have that much. It is bad.

Person 2: Wtf, should people not be allowed to have 1 million? I want 1 million. People with a few million are good people!

How do you think that I was saying billionaires = millionaires?

Like how?

I gave you a scenario of 2 people making an exchange.

The only way I can see that you took that is all you read was the title and didn't see the single quotes.

I think you quoted the wrong guy

Turtlebread posted...

I think you quoted the wrong guy

Well you did call me Wingsofdumb.
If you understood the thread why did you do that?

I figured you and Trumble agreed.

Sounded funny

TC

If I started with $1, it is mathematically just as easy/difficult to turn that into $1000 as it is to turn $1000 into $1 million or $1 million into $1 billion.

It's a lot easier to become a millionaire than a billionaire because $1 million worth of income is actually achievable for a regular person via regular income. But that is why all the high net worth people you hear about maintain their wealth through investing and compounding returns. That is how you become a billionaire if you aren't lucky enough to be a part of the dot com boom or an equivalent.

Damn_Underscore posted...

TC

If I started with $1, it is mathematically just as easy/difficult to turn that into $1000 as it is to turn $1000 into $1 million or $1 million into $1 billion.

It's a lot easier to become a millionaire than a billionaire because $1 million worth of income is actually achievable for a regular person via regular income. But that is why all the high net worth people you hear about maintain their wealth through investing and compounding returns. That is how you become a billionaire if you aren't lucky enough to be a part of the dot com boom or an equivalent.

Why isn't The Rock a billionaire already?

Similar for all the other people with hundreds of millions.

It is so easy according to you, just like turning a dollar into $1000.

Damn_Underscore posted...

If I started with $1, it is mathematically just as easy/difficult to turn that into $1000 as it is to turn $1000 into $1 million or $1 million into $1 billion.

No, it isn't, because you can go get a job, work for one hour, and you've already 10x'd how much you have. However, if you tried to invest that $1 (ignoring minimum deposits / etc), you'd take years if not decades to 10x it, short of getting lucky with some moonshot crypto or upstart (or more likely, by running a scam). When you get past the point where job income is significant, you have to rely on the latter. And let's just say it's not moonshots or upstarts they're mostly relying on.

Spamming is against the ToS

Veggeta_MAX posted...

Spamming is against the ToS

Don't do it then fake vegy.

WingsOfGood posted...

Why isn't The Rock a billionaire already?

Similar for all the other people with hundreds of millions.

It is so easy according to you, just like turning a dollar into $1000.

I'm sure he has a team of investors who are doing him right.

If he invested all his money in a relatively safe ETF or mutual fund I'm sure he could be a billionaire within a decade or two. For the average person who could become a millionaire, it would take multiple generations before reaching billionaire status is realistically possible. But it is possible and it's the easiest way by far.

The reason why most people aren't interested in this is because it's a Get Rich Slow method, but unlike Get Rich Quick methods it is mathematically proven. You can try some different numbers here:

https://dqydj.com/etf-return-calculator/

Trumble posted...

No, it isn't, because you can go get a job, work for one hour, and you've already 10x'd how much you have. However, if you tried to invest that $1 (ignoring minimum deposits / etc), you'd take years if not decades to 10x it, short of getting lucky with some moonshot crypto or upstart (or more likely, by running a scam). When you get past the point where job income is significant, you have to rely on the latter. And let's just say it's not moonshots or upstarts they're mostly relying on.

That's making $10 for an hour of work though, it's not turning $1 into $10.

Actually thinking about it more, if you wanted to get a job to give you that $10 in the first place, you would have to spend a lot more than $1 to get hired and commute to work. So there's that to think about.

Damn_Underscore posted...

I'm sure he has a team of investors who are doing him right.

If he invested all his money in a relatively safe ETF or mutual fund I'm sure he could be a billionaire within a decade or two. For the average person who could become a millionaire, it would take multiple generations before reaching billionaire status is realistically possible. But it is possible and it's the easiest way by far.

The reason why most people aren't interested in this is because it's a Get Rich Slow method, but unlike Get Rich Quick methods it is mathematically proven. You can try some different numbers here:

https://dqydj.com/etf-return-calculator/

it's also impossible for that to work for everyone

averagejoel posted...

it's also impossible for that to work for everyone

I'd say it's harder to find an enjoyable job where you are treated well and make great pay and benefits.

Damn_Underscore posted...

I'd say it's harder to find an enjoyable job where you are treated well and make great pay and benefits.

that's not what I'm talking about.

fundamentally, capitalism necessitates the existence of an exploited underclass to do the actual work. if everyone attempted to become rich via investing, something would happen to prevent poor people from actually making money

averagejoel posted...

that's not what I'm talking about.

fundamentally, capitalism necessitates the existence of an exploited underclass to do the actual work. if everyone attempted to become rich via investing, something would happen to prevent poor people from actually making money

So you're calling financial markets pyramid schemes in other words?

Ok... I don't agree with you, but if the economy ever collapsed, having a job wouldn't even matter. So you're better off assuming it won't collapse and hoping you don't get unlucky.