If you earn 10m over your lifetime, spend 3m on living, buy a house for 1m, pay 1m into a index linked pension you’d end up with wealth as well as income. I.e. > 10m
That’s why it’s always important to compare like for like.
Wealth is not income, income can create wealth. Wealth can create income, they are still not the same thing
But seeing as this place has more than its fair share of tankies, I’m not surprised at the economic illiteracy on show.
Do you realize, that that makes it even worse?
It’s just not comparing like with like.
If you earn 10m over your lifetime, spend 3m on living, buy a house for 1m, pay 1m into a index linked pension you’d end up with wealth as well as income. I.e. > 10m
That’s why it’s always important to compare like for like.
Wealth is not income, income can create wealth. Wealth can create income, they are still not the same thing
But seeing as this place has more than its fair share of tankies, I’m not surprised at the economic illiteracy on show.