The interest is earned because millionaires, as well as individuals who have their money put away in time deposits, allow their money to be used by the banks at their discretion.
Be it a bank giving out a loan to the person who is trying to buy a car. So yes, obviously for that consumer who is repaying back his loan, the “millionaire” is receiving interest by having their money in the bank and letting that consumer receive that loan at all.
Time value of money. The “millionaires” or just anybody out there who deposits their money in any financial institution of course gains interest. These people are giving up their consumption and saving it for a future date, therefore there must be compensation. How is this surprising?
I support Occupy Wall Street, but this is just straight stupid.