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   Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:04:41 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

   Thanks everyone. I am late in my working career, so for me what's normal may seem different to someone in their teens or twenties. A paid-off home in the developed world has a median price around $400K, and additional savings for retirement of about the same amount seems pretty normal. So, I'm perfectly fine with people having wealth of $1M.

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     Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:11:40 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

     in reply to

     At $10M, we transition from comfort to luxury. A second home, or a third; expensive hobbies like sailing or horses; first-class flights and expensive hotels as the norm; enough liquid assets that you can live off of capital instead of working. This seems like a level of wealth that someone could enjoy the fruits of personally. I feel like it's maybe a problem to live this way in a world where children are starving, but maybe just over the line.

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     Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:13:21 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

     in reply to

     By $100M, it stops being possible to enjoy it personally. A second home is a joy, but a 10th home is mostly theoretical. This feels like the level at which wealth stops being for personal benefit and starts being an abstract instrument of power.

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     Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:21:39 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

     in reply to

     So I think my answer is around $10M.

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     Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:24:55 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

     in reply to

     Quick breakdown for US people:

     $1M - about 15% of the population
     $10M - 1%
     $100M - 0.01%

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     Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:25:28 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

     in reply to

     Elizabeth Warren's wealth tax proposal starts at $50M:

     https://elizabethwarren.com/plans/ultra-millionaire-tax

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     Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:26:57 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

     in reply to

     I think there are other answers here. That it's unethical to hoard any wealth when even one person is without food or shelter, for example.

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     Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:29:10 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

     in reply to

     I asked this question because Tom Steyer, billionaire candidate for California governor, was recently asked if billionaires should exist. At least for progressives in the US, this has become a settled question: no. Billionaires are a sign of a dysfunctional economic system. It made me think, for myself, that if I'm ok making judgments about others' personal wealth, what is my boundary between ok and not ok levels of wealth? Thus my answer.

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     Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:34:58 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

     in reply to

     It's interesting to me that my boundaries seem to be around use value. A vacation home you use regularly seems more acceptable to me than a property you own for tax purposes that sits unoccupied. I realize there are a lot of other questions around wealth, but this seems to be the important one for me. There is a level of wealth at which no one person or household could reasonably enjoy the use of that wealth.

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     Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸 (evan@cosocial.ca)'s status on Wednesday, 27-May-2026 22:44:51 JST Evan Prodromou 🇨🇦🇺🇸🇬🇷🇵🇸

     in reply to

     • Marcus "MajorLinux" Summers

     @majorlinux yes, framing the question in terms of personal wealth instead of system-wide wellbeing is probably the first mistake!

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     Marcus "MajorLinux" Summers (majorlinux@toot.majorshouse.com)'s status on Wednesday, 27-May-2026 22:44:52 JST Marcus "MajorLinux" Summers

     in reply to

     @evan I think, instead of focusing on wealth, we should look at affordability and sustainability.

     How can the collective live prosperously without the need of some sort of accumulation?