The financial services industry has its own designations: High Net Worth Individuals (HNWIs, currently $1-30 million in liquid, investable assets) and Ultra-High-Net-Worth Individuals (UHNWIs, currently $30-million+ in investable assets). There are probably also unofficial categories for people with over $100-million.
I’ve also heart the informal term “decamillionaire” for someone with a net worth of over $10-million.
True, and even at the base $1-million in liquid assets we’re talking about we’re talking about the top 12% in the country in terms of net worth.
One thing you quickly learn about wealthy people who stay wealthy, though, is they pay very close attention to what the register rings up. And the wealthier the customer, the harder it will go on the sales clerk or server if there’s a discrepency between what he expects in terms of price and value promised and what’s delivered – even if it’s for a relatively inexpensive thing like a restaurant meal.
And it bears repeating that the higher income tax proposed by Warren fit into the progressive taxation system.
