Posted on 05/12/2024 3:08:21 PM PDT by ChicagoConservative27
Given the level of BiXiden, et.al.’s Inflation, this is not surprising.
Billy Joel said it would be 2017.
6 months and a day is all it takes.
Billy wasn’t far off.
NYC has the largest number of high end residential properties owned by LLCs, Trusts, non-profits and any other tax dodge the finest lawyers and accountants can dream up! The don’t pay a lot of tax……
There was a hit TV show called “The Millionaire” that ran from 1955 to 1960. A millionaire indulged himself by giving away $1 million apiece to persons he has never met.
These days people think “A million bucks? That’s not so much.” Millionaires in NYC are a dime a dozen. But it was REAL money back in 1960. A million then is $10.5 million in 2024.
A show titled “The Ten Millionaire” just doesn’t have the same ring to it. Maybe “The Decamillionaire”?
If you’re a millionaire, you’re likely to have several homes. One in California, one in NYC, your primary residence may be in Florida.
Daddy warbucks.
“Maybe ‘The Decamillionaire’?”
Soon, the billionaire.
“A million then is $10.5 million in 2024.”
Or more. I think gasoline was 21 cents a gallon in 1960.
As late as 1972 gasoline was about 30 cents a gallon.
One million then is probably equal to 15 million dollars today.
The problem with using a million dollars as a gauge is that a million dollars isn’t what it used to be.
It’s staggering — 10X to 15X debasement of the currency happened in 60 years. I’m 72 and saw most of that.
The Fed and going off the gold standard and moving to fiat currency did that.
It’s really hard to plan your financial future in that environment. You start off thinking “I’ll need $1 million to retire” but, when you get there, that $1M became $10M.
Primary residence in Florida?
New York’s taxing authority begs to differ.
Actually, it’s not begging. It’s just differing. No matter how many overnights you spend per year in your New York residence.
Between New York and DC, behold the biggest collection of filthy rich filthy magnum gonefs in the world.
Good, let them pay for the city they created, cut federal funds accordingly.
Only if you spend more than 184 days in New York.
The Cuellar situation in Texas should be a warning that no one is safe from the fascist DOJ…
First one has to question what criteria they are using to determine who is a millionaire?
If it includes real estate and immovable assets these things are hard to move out of state and therefore discourage relocation of the owner.
Also take in to consideration that inflation in the last ten years has driven many peoples paper wealth up. People that 10 years ago would have been worth 700 to 800 grand are today millionaires.
On paper my wife and I are millionaires. Trust me we live very modestly and do not consider ourselves wealthy. We are comfortable but in no way wealthy. Most of our wealth is wrapped up in retirement funds so most of our wealth is very limited in what we can do with it and always under threat of confiscation by government.
Being a millionaire doesn’t mean what it used to mean.
how to become a millionaire...start with a billion then get married and move to New York n
A fortune to be made running a daily jet shuttle from NYC to Palm Beach.
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