Let’s talk about hoarding wealth!!! What amount of money do you think is enough before you’ve become a wealth hoarder? - ThreadSky

lizzobeeating.bsky.social • 88 days ago

Let’s talk about hoarding wealth!!!

What amount of money do you think is enough before you’ve become a wealth hoarder?

Reposted from 🍉Harvest Oak 🍉

Hiding money in assets doesn’t change the fact that they hoard wealth. They just do it in a way that’s harder to take.

Comments

kj-travel.bsky.social•88 days ago

Billionaire

end0fline.clifton.casa•88 days ago

A few million? Outside of hoarding, what do you need more for?

bigbodiedwitch.bsky.social•87 days ago

A you won capitalism badge and 100% wealth tax for anything above £40 mil.
The 40 mil is generous.

adjbeylxd.bsky.social•88 days ago

1/2 a billion

aezaiyear.bsky.social•87 days ago

I’m good with millionaires as long as they pay fair taxes…billionaires make no sense! No one should be a billionaire when we don’t have free healthcare, have a homelessness pandemic and food deserts

forced2bnice2u.bsky.social•87 days ago

I can’t speak on what makes others comfortable, what I can say is we ALL should pay our fair share. If you invented something that made you a billionaire, congrats, just pay your fair share. 💯

red-n-black.bsky.social•87 days ago

I don't think we are having the correct conversation. The issue isn't passing a certain number, it's the means of getting your wealth. Profit, inherently, is stolen from the workers. Companies make money because of the work that their employees do, but they NEVER see the "record profits".

red-n-black.bsky.social•87 days ago

Instead it goes right back into the CEO's bank account because they decided they earned a bonus or an increased yearly wage. The work a CEO does day to day isn't ever worth what they get paid. They pay low wages specifically so they can increase the money in their own pockets.

red-n-black.bsky.social•87 days ago

The issue isn't as simple as "billionaires are immoral but millionaires are ok" Capitalism is inherently immoral and thrives on the backs of the exploited. It doesn't matter if you are only a millionaire instead of a billionaire, if you still earned your money from the backs of the working class.

wobedraggled.bsky.social•88 days ago

IMHO there should be a 100m cap on everyone, and even that is too much

natanapau.bsky.social•88 days ago

10 million liquid cash. 💰

untilwefixthis.bsky.social•88 days ago

people saying 5 mil??? whoa - I thought hoarding was anything over maybe 500k.
Most people I know think its anything extra after a living wage and redistribute it.

untilwefixthis.bsky.social•88 days ago

I meant 50 mil. But really 5 mill is def hording.

unluckywednesday.bsky.social•88 days ago

Are you becoming woke Lizzo? I love it

tonybolognamacnchz.bsky.social•88 days ago

drfrancaphd.bsky.social•86 days ago

I love that you’re asking these questions. There is no ethical way to be a billionaire or millionaire or even really thousandaire under capitalism, because all wealth one amasses is achieved through some level of exploitation. I don’t believe in capitalism and think it should be abolished. But I do

drfrancaphd.bsky.social•86 days ago

have room for nuanced discussions around a more ethical/sustainable way to exist as long as we’re forced to under this oppressive system, and it has certainly gone off the rails in the US, but there’s places we can look to for examples, in Europe etc.

milkischillin.bsky.social•88 days ago

This is an interesting question that I struggle with as someone who is financially successful.

Like at what point should I stop trying to obtain wealth? I think I have enough to retire today. But is it? What if I am wrong and it's not enough when I am 70?

Suddenly it's not simple.

vinchenzojackal.bsky.social•88 days ago

I've known millionaires that don't have enough money to afford a good house in this economy, my millionaire brother spent over $650,000 for a beat-up run-down house that he is going to be spend thousands to fix up, so I think that a person isn't hoarding wealth as a millionaire. Housing is a right.

vinchenzojackal.bsky.social•88 days ago

Also my brother isn't even a business owner, he's a management employee in the tech sector, he works as much as 10 hours a day 6 days a week, it took him working nonstop since he was 18 to become a millionaire. 20 years nonstop working. And he spent most of his entire life's saved wealth on a house.

interprelator.bsky.social•88 days ago

I like the line drawn by Liz Warren: if you have $50 million, no wealth tax; for every dollar after that, you pay a two cent tax each year.

milkischillin.bsky.social•88 days ago

Agreed. I don't know where that line is but it's somewhere south of $50 million, for absolute sure. If that ends up being wrong we are all screwed anyway.

ajummamummy.bsky.social•88 days ago

I think it depends on what you do with the money, actually. Do you have money to keep you comfortable, for some luxuries, and for giving to good causes? Or can you be addicted to having money, just to have it? But also, it's your money, do you have to share? So. Many. Questions.

breffisintexas.bsky.social•88 days ago

I feel like billionaire is a good line generally. But also there are def circumstances of their assets that make their net worth inflated. But easy line the sand is 1B IMO

betterhumannewname.bsky.social•88 days ago

Depends on liabilities.
50 million is a lot for someone who owns no businesses. For someone who owns a large contracting company, it's vastly less.

So I would think tiers need to be established.

iridescentdissent.bsky.social•88 days ago

If you have dozens or hundreds of millions your path should be littered with charity organizations, libraries, orphanages, donations, grants, charity trusts, hospital wings, parks, museums and so on with your name on them

ofgoldensea.bsky.social•88 days ago

However much I have + $1

thevinto37.bsky.social•88 days ago

Anything beyond five million. If you have five million liquid, then you’re just hoarding.

cecilyjk.bsky.social•88 days ago

When you get above $100M it starts to get a bit silly.

pwr2dppl.bsky.social•88 days ago

Given the healthcare situation in the US I think we (esp Black non-men) have to hoard an otherwise immoral amount of money just to be responsible. Everything is a mess. (Not a billion dollars tho lol but way more than sounds okay to me.)

pheman.bsky.social•88 days ago

$100mln is enough money for anyone to live on and pass down a legacy. No one needs multiple houses, yachts, all the other excesses.

harvestoak.bsky.social•88 days ago

I desire for a world without capitalism, but working within the system that exists, I’d say that 5 million cash + 5 million in assets is enough to meet all of your needs and your children’s needs for your natural life. Anything more is wasteful and hoarding resources that others need.

harvestoak.bsky.social•88 days ago

This seems extreme compared to hundreds of billions of dollars that the ultra wealthy have, but only .1% of Americans retire with 5 million in the bank. A fraction of a percent.

harvestoak.bsky.social•88 days ago

The US government puts a income cap on disabled people, but not on the wealthy.

kat-fan.bsky.social•87 days ago

Any.

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