Number of Millionaires in the US increases

  • Posted by a hidden member.
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    Jun 03, 2011 12:30 AM GMT
    The rich get richer. Poor get poorer. And middle class is dissappearing....


    http://www.chron.com/disp/story.mpl/business/7475023.html
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    Jun 03, 2011 12:33 AM GMT
    southbeach1500 said
    catfish5 saidThe rich get richer. Poor get poorer. And middle class is dissappearing....


    http://www.chron.com/disp/story.mpl/business/7475023.html


    Even sadder when the middle class can't spell disappearing correctly.


    Blame my Texas education.....
    GOP would rather cut education funding to the bone than increase taxes on millionaires.
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    Jun 03, 2011 12:45 AM GMT
    southbeach1500 said
    catfish5 said
    southbeach1500 said
    catfish5 saidThe rich get richer. Poor get poorer. And middle class is dissappearing....


    http://www.chron.com/disp/story.mpl/business/7475023.html


    Even sadder when the middle class can't spell disappearing correctly.


    Blame my Texas education.....
    GOP would rather cut education funding to the bone than increase taxes on millionaires.



    Right.... always the fault of someone else. Got it....


    Damn straight. Texas ranks 44th out of 50 states in education spending per pupil. Texas is fighting Mississippi for dead last in education. You know Mississippi- First in the number of conservatives, last in everything else. Thanks GOP.

    http://www.truthaboutschools.org/2011/03/27/texas-44th-in-spending/

    http://www.venturamojo.com/2011/03/01/mississippi-first-in-number-of-conservatives-last-in-education/
  • Posted by a hidden member.
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    Jun 03, 2011 2:30 AM GMT
    southbeach1500 said
    catfish5 said
    southbeach1500 said
    catfish5 said
    southbeach1500 said
    catfish5 saidThe rich get richer. Poor get poorer. And middle class is dissappearing....

    http://www.chron.com/disp/story.mpl/business/7475023.html

    Even sadder when the middle class can't spell disappearing correctly.

    Blame my Texas education.....
    GOP would rather cut education funding to the bone than increase taxes on millionaires.

    Right.... always the fault of someone else. Got it....

    Damn straight. Texas ranks 44th out of 50 states in education spending per pupil. Texas is fighting Mississippi for dead last in education. You know Mississippi- First in the number of conservatives, last in everything else. Thanks GOP.

    http://www.truthaboutschools.org/2011/03/27/texas-44th-in-spending/

    http://www.venturamojo.com/2011/03/01/mississippi-first-in-number-of-conservatives-last-in-education/

    If it's such a lousy place, why don't you leave Texas and live in, oh, California or Illinois?

    SB you are so mean to give him such advice. He would be far better off in a right to work state.
  • Posted by a hidden member.
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    Jun 03, 2011 2:32 AM GMT
    Good, this increases my chances of snagging a millionaire.icon_twisted.gif
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    Jun 03, 2011 2:33 AM GMT
    With the amount of money Obama has printed, are all of these "millionaires" last years "$100 thousand-aires"


  • t0theheights

    Posts: 428

    Jun 03, 2011 2:37 AM GMT
    catfish5 saidThe rich get richer. Poor get poorer. And middle class is dissappearing....


    http://www.chron.com/disp/story.mpl/business/7475023.html


    As always the conservatives respond with puerile insults rather than substantive arguments whenever the facts aren't on their side.

    Oh, and I both used and spelled puerile correctly, SB, in large part because of my education in NJ and Mass., states that (mostly) have remained immune to the destruction of ignorant conservatives and their devastating and immoral policies -- until that fat moron Christie started to destroy Jersey at least. (If only NJ had recalls... Christie would suffer the same fate as his ignorant Wisconsin counterpart will in 2012.)

    Liberal states and nations are always healthier, more educated, and overall simply better than those that are dominated by backwards conservative hicks. You'd think conservatives would pick up on this trend; but then again, brainwashing can make one ignore any number of unpleasant facts.
  • Posted by a hidden member.
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    Jun 03, 2011 2:44 AM GMT
    ScottsSoHot saidWith the amount of money Obama has printed, are all of these "millionaires" last years "$100 thousand-aires"

    Very good. But the stimulus money wasn't totally wasted. It did create a few jobs, but the cost to create each job was $$$$.

    http://www.cbsnews.com/8301-503983_162-5390970-503983.html

  • Jun 03, 2011 2:45 AM GMT
    catfish5 saidThe rich get richer. Poor get poorer. And middle class is dissappearing....


    http://www.chron.com/disp/story.mpl/business/7475023.html


    Umm. More millionaires actually means more people have more money. If the rich were actually getting richer, it would read, same number of millionaires have more money.
  • needleninja

    Posts: 713

    Jun 03, 2011 2:47 AM GMT
    az_softball_guy said
    catfish5 saidThe rich get richer. Poor get poorer. And middle class is dissappearing....


    http://www.chron.com/disp/story.mpl/business/7475023.html


    Umm. More millionaires actually means more people have more money. If the rich were actually getting richer, it would read, same number of millionaires have more money.


    he has a point about the subject title. :^
  • Posted by a hidden member.
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    Jun 03, 2011 2:54 AM GMT
    Ever think what the state lotteries do? ....A couple dozen more millionaire a week. It adds up. And who plays the lotteries... the poor.
  • Posted by a hidden member.
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    Jun 03, 2011 2:58 AM GMT
    Golly, I see things haven't changed much around here.
  • Posted by a hidden member.
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    Jun 03, 2011 3:02 AM GMT
    Naw it's a Texas thing .... we take pride in our soil.
  • creature

    Posts: 5197

    Jun 03, 2011 3:03 AM GMT
    i was wondering what happened to chuckystud.
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    Jun 03, 2011 3:07 AM GMT
    More reason to vote for the millionaires tax..the money garnered from the tax..could benefit so much other areas of this country's economy and infrastructure. And the millionaires are weeping if it ever gets approved..How selfish can they be. Mayor Bloomberg is one of those selfish individuals. I mean the cash flow gained from the tax could better public schools, create and save more jobs, stabilize the economy. I swear people sometimes dont see the common sense in such issues. They are fighting against their own country basically. They are basically committing Treason against the state. They are worst than Dictatorship Communism..
  • Posted by a hidden member.
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    Jun 03, 2011 3:12 AM GMT
    The American dream is alive and well thenicon_cool.gif
  • uppernyguy

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    Jun 03, 2011 3:15 AM GMT
    Top 25% of wealthiest Americans pay 85% of all federal income taxes the government collects...the top 10% pay 68%.........while bottom 50% pay a whopping 3% of the total federal income taxes the government collects.

    Exactly what is a "fair share" that people keep saying the rich should pay??

    I'd love for someone, either a liberal or a conservative, to define "fair share"...
  • Posted by a hidden member.
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    Jun 03, 2011 3:25 AM GMT
    uppernyguy saidTop 25% of wealthiest Americans pay 85% of all federal income taxes the government collects...the top 10% pay 68%.........while bottom 50% pay a whopping 3% of the total federal income taxes the government collects.

    Exactly what is a "fair share" that people keep saying the rich should pay??

    I'd love for someone, either a liberal or a conservative, to define "fair share"...

    I think the nucleus of guys of the left here would define a "fair share" as any amount that someone else pays.
  • Posted by a hidden member.
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    Jun 03, 2011 3:57 AM GMT
    Haha, people might be getting richer, but they aren't necessarily getting any happier.
  • JP85257

    Posts: 3284

    Jun 03, 2011 4:48 AM GMT
    I have no problem with this.
  • Posted by a hidden member.
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    Jun 03, 2011 12:16 PM GMT
    http://taxprof.typepad.com/taxprof_blog/2010/10/johnston-american-.htmlWrong. We don't think differently. In fact, Americans think very much alike on wealth distribution. Amazingly alike. High-income or low, Republican or Democrat, young or old, male or female, Bush voters or Kerry voters, Americans are united in what they believe is the ideal distribution of wealth. And they are just as united about what they imagine to be the distribution of wealth in America.


    6a00d8341c4eab53ef0133f50121df970b-450wi

    6a00d8341c4eab53ef0133f501239e970b-450wi
  • CAtoFL

    Posts: 834

    Jun 03, 2011 12:45 PM GMT
    I'm all for reporting these statistics, but this is a great example of a study being breathlessly reported to support political bias.

    This study is simply reporting that the number of millionaires increased 8% in 2010. 'Millionaires' in this study are defined as having "assets of $1 million or more, not including their primary residences".

    Obviously, a lot of the wealth of affluent people is invested in our financial markets - either by the individual or through the individual's employer.

    A little historical perspective helps here - the first quarter of 2009 was awful for those invested in the American stock markets. The Dow fluctuated from 9175 in Jan 2009 to 6440 in March 2009. The lowest the Dow hit in 2010 was about 9596 in July - an increase of 49% over the 2009 lows, which is a huge, staggering number. Thus, people who had $700,000 invested in the markets in 2009 'became' millionaires (or became millionaires again) when the markets staged comebacks in 2010.

    This study is just reporting the obvious - that the markets improved in 2010. This is further supported by the other data in this study - that "the [2010] figure is still below the 2007 high for millionaires". NOT surprising, since the Dow's low in 2007 was about 12,000. In fact, this study could've been equally titled "The number of U.S. millionaires declines 13% in three years!".

    For god's sake people, THINK about what you're reading. It's not all about evil Republicans or soft-hearted Democrats ruining everything. Sometimes, the numbers are just reporting the common knowledge of what we already know.
  • uppernyguy

    Posts: 17

    Jun 03, 2011 1:43 PM GMT
    SouthBeach....

    I think I understand now......so, I think what you're saying is that the Federal Government doesn't have a REVENUE problem, they have an EXPENSE (i.e. SPENDING) problem!

    Thank you!

    Now, moving on to the concept of "wealth redistribution" that everyone keeps mentioning that we need more of.....let me see if I understand what they mean. If I have a company that makes widgets and I work my butt off and make $1 million a year and at the same time, my neighbor has a company that also makes widgets but he sits at home, doesn't work real hard and consequently only makes $200,000 a year, I'm supposed to walk next door and hand him $400,000 so that we both make $600,000. Right????........
  • musclmed

    Posts: 3284

    Jun 03, 2011 1:51 PM GMT
    tereseus1 saidMore reason to vote for the millionaires tax..the money garnered from the tax..could benefit so much other areas of this country's economy and infrastructure. And the millionaires are weeping if it ever gets approved..How selfish can they be. Mayor Bloomberg is one of those selfish individuals. I mean the cash flow gained from the tax could better public schools, create and save more jobs, stabilize the economy. I swear people sometimes dont see the common sense in such issues. They are fighting against their own country basically. They are basically committing Treason against the state. They are worst than Dictatorship Communism..


    Really what is treasonous? Trying to keep taxes low?

    This theory would require a complete revision of the history of the United States.

    Simply our country was founded on limiting taxation and representative government. How anyone can try to sneak that statement in is ridiculous.

    The whole movement of the American Revolution was based upon the colonist revolting against unfair taxes from the CENTRAL GOVERNMENT.

    As time goes on of course there will be more millionaires. As inflation occurs , one dollar buys less.
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    Jun 03, 2011 2:04 PM GMT
    Fantastic! It means we're still a nation of opportunity.