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Cake day: July 4th, 2023

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  • That’s my point. We (those of us that aren’t at least millionaires) don’t really differentiate in society between someone that has a million dollars and someone that has 10 million dollars; they’re both stuck in the “millionaires” tier.

    So say you are making $50,000 a year, well it’s easy to see how you or someone like you could (theoretically) get to $100,000; that’s just the next tier up. And then it’s easy to imagine someone going from $100,000 to a million because that’s the next tier up again. But once you get there, people don’t tend to think of ten million as a tier and usually not a hundred million either. The next tier in our zeitgeist after million is billion.

    So people tend to think of billion being kind of the same as going from $100,000 to $1,000,000. Hence the common disconnect about just how much more money a billionaire has than the common man.


  • hogunner@lemmy.worldtoWork Reform@lemmy.worldOne Mississippi
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    8 months ago

    I have a theory about this: We group money in magnitudes of tens up to a million but then jump up from 10x to 1,000x:

    1

    10

    100

    1,000

    10,000

    100,000

    1,000,000

    1,000,000,000

    That’s a huge increase but our minds like patterns so we instinctively feel that a billion must be about 10x a million and not the 1,000x it really is, thus leading to huge inaccuracies.











  • I think all jobs at least have the potential to be skilled labor. The issue is with many of these types of jobs the work isn’t paid well enough for someone to stick around and really develop the skills.

    Obviously there are many exceptions as there are a lot of really skilled workers working jobs that still pay well below what they should but hopefully, with more awareness and union membership uptick, this is improving.