Millionaire Population Grows by 200,000 - The Wealth Report - WSJ
"The number of millionaires in America grew by 200,000 in 2011, according to a new report from Chicago-based Spectrem Group.
That sounds like a lot — especially with so many Americans still losing jobs and homes. But it represents a growth rate of only 2% – much slower than the growth in 2009 and 2010.
According to Spectrem, there are now 8.6 million households in the U.S. with a total net worth (minus principal residence) of $1 million or more. The number of households worth $5 million or more and $25 million or more also remained fairly flat, with growth of less than 2%. There are now 1,078,000 households worth $5 million or more and about 107,000 people worth $25 million or more."
also from the article:
"The report also broke down today’s millionaires by occupation and former occupation if retired. Managers make up the largest group, with 17%, followed by educators (12%), corporate executives (7%), entrepreneur/business owners (6%) and attorneys and accounts."
Educators, attorneys and accountants are easy jobs for someone who is poor to break into because they just need to go to school and there are plenty of grant/loan programs that can make that happen if they bother to apply themselves in a slightly above average way. One doesn't even need graduate school to become a CPA. While the overall number of millionaires is down since late 2008, there are still quite a few of them.
Hmmm 30 million could be donated to debt reduction:
Government - Gift Contributions to Reduce Debt Held by the Public
You have my support. I've had many employees, I paid them generously and shared the profits with them. Even then, I still made good money and paid plenty of taxes without loopholes and had no problem doing so. I'm always surprised that the rich are so strongly defended by the not-rich. Except for a few thousand super-selfish CEOs, I think most high income people are very philosophical about their tax burden. If you make a million, you still keep about $670K which is far more than you need to live on.
So, there are the "rich" and the "selfish rich". The latter makes more noise. That's one of the reasons I didn't vote for Romney despite my disappointment with Obama. He was focused on having hundreds of millions and paying as little tax as possible so I felt that he would use the Presidency to cut himself tax breaks that he didn't need.
I don't know any billionaires but I'll guess most of them are happy enough to pay the taxes and still be billionaires.
It wasn't an argument. It was a fact. In fact due to changes imposed by government my business reduced hours for people until some had to leave and they were not replaced. I don't care what your vast experience was mine was exact and in fact I'd have to say you are being obtuse to not recognize it as a fact. It leads me to think there is some personal jealousy being propelled by you to soak the rich / maybe punish them? The fact is the changes you think are prudent would cost plenty of people their jobs, and wouldn't even balance our budget. Such a scenario will simply hasten our demise. Maybe that's your goal?
"What difference" "does it make?"
-I don't trust a man who talks about ethics when he's picking my pocket.- Time Enough For Love - Robert A Heinlein
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