"United States Losing Millionaires As China, India Gain Them, Study Says" by Catherine New

[applegrove]

United States Losing Millionaires As China, India Gain Them, Study Says

by Catherine New atThe Huffington Post

http://www.huffingtonpost.com/2012/05/31/united-states-losing-millionaires_n_1559803.html?ncid=edlinkusaolp00000003

"SNIP..........................................................

The number of rich people in the United States is declining, even as the number of millionaires elsewhere in the world grows, according to a new study released on Thursday.

Driven by the United States, North America lost nearly 1 percent of its private wealth in 2011, dropping to $38 trillion in total private assets. Last year in the U.S., the number of millionaire and ultra-millionaire (those with $100 million in assets) households decreased, according to a new study from Boston Consulting Group, a global management consulting firm. The results were part of the group’s 12th annual look at the state of world’s private wealth.

..................................................................

Meanwhile, it's not hard to see evidence of wealth loss in the United States, which has had a limp recovery from the recession. In the last year, the housing and foreclosure crisis continued to grind on, the stock market was shaky, budget cuts were pervasive and unemployment remained high.

But even if it seems like America's wealthy are losing ground, they have a long way to go before losing their place as the richest group in the world. The U.S. still ranks first for number of millionaires, with more than 5.1 million households qualifying for the label, according to the report. Japan ranks second with 1.6 million millionaire households, followed by China.

..........................................................SNIP"

[jberryhill]

1. But you can help...

Every day in this country, some are heartbroken to learn their assets have dipped below $100 million. But now, by becoming a sponsor through the Greedy Family Fund, you and others can prevent this needless tragedy.

For what you casually spend on things you can skip, like feeding one of your own children a meal each day, you and 100,000 others can help maintain millionaires like Wentworth "Buddy" Hastings Abbot IV live in the manner to which he is accustomed and, frankly, has become dependent on. Your child will never remember the three months of Hamburger Helper he or she didn't have, but guys like Buddy will keep lasting memories of the $100 tip he gave the valet after one of his best rounds of golf at the club.

Will you help us, and Buddy? Call now.

[applegrove]

2. LOL! well said.

[Arkana]

5. Why am I hearing Sarah McLachlan?

[dkf]

3. Well maybe we can tax them out of existence right?

Yay for us I'm sure.

[Psephos]

7. That removes them as a source of revenue.

Just sayin'...

[dkf]

8. And removes them as a source of capital.

[Psephos]

9. I'd rather have the cow than the barn. n/t

[tanyev]

4. Live by the outsourcing, die by the outsourcing.

[LiberalFighter]

6. How many more millionaires would there be if the billionaires weren't so greedy?

Those billionaires aren't happy unless they have it all to themselves. Scrooge McDuck?