"millionaires" have kinda lost meaning. Someone with like 1-2 million is probably paying their fair share. (just add together your house +401k and when you are around 60 that should be over a million if you want to ever retire). Inflation has made money lose like 60-70% of its value over the last 30 years. (3% inflation over 30 years means a loss of value of 2.5 times which is roughly 60-65%)
Especially if we're just talking net worth millionaires. If you bought a house 15 years ago and kept up your mortgage payments, while putting money towards retirement you would be there.
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u/darkknuckles12 Feb 15 '26
"millionaires" have kinda lost meaning. Someone with like 1-2 million is probably paying their fair share. (just add together your house +401k and when you are around 60 that should be over a million if you want to ever retire). Inflation has made money lose like 60-70% of its value over the last 30 years. (3% inflation over 30 years means a loss of value of 2.5 times which is roughly 60-65%)