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Survey: Almost 50% of Americans Consider Themselves ‘Broke’ (www.marketwatch.com)

submitted 3 months ago by return2ozma@lemmy.world to c/personalfinance@lemmy.ml

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[–] spamellama@lemmy.world 1 points 2 days ago

Sure, but let's say they spent 20m. Then their net worth would be under a billion and the next couple of years of earnings would have a lower tax rate.

Even if they never were able to make money again, 20m goes into a billion 50 times. They could overspend for 50 years without making a cent on investments.

I'm sure they'd come up with fun new accounting loopholes though so their assets didn't appear to increase.