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GreenPartyVoter Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-05 07:44 AM
Original message
"Number of millionaires hits record"
NEW YORK (CNN/Money) - There are 700,000 more millionaire households this year than in 2004, according to a survey released Wednesday.

Households with a net worth of at least $1 million excluding primary residences rose 8 percent to a record high 8.9 million, according to an annual report by TNS Financial Services, a market research and polling firm.

This is the third consecutive annual increase, although this year's growth rate is far more modest than the 33 percent increase seen in 2004.

Interestingly, although the number of millionaire households grew, the averages among some of their primary investments were down.

http://money.cnn.com/2005/09/28/news/economy/millionair...
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Zynx Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-05 07:48 AM
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1. That's probably very much related to the housing boom.
Which, ironically, is actually helped by low long-term interest rates that are simultaneously indicative of weaker growth prospects and thereby weaker inflation prospects.
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Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-05 07:49 AM
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2. And the average income was down 4% from 1999
"The total income of Americans in 2003, adjusted for inflation, was 4 percent smaller than in 1999, new tax return data showed yesterday."
http://www.nytimes.com/2005/09/28/business/28tax.html

The rich are getting richer and the poor are gaining in numbers in the good old US of A.
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GreenPartyVoter Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-05 07:54 AM
Response to Reply #2
4. But there's no class war according to the RW. I say we oughta
bring it to them.
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Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-05 08:04 AM
Response to Reply #4
8. I'm all for that idea
I'm a small business owner and my average income has decreased while my taxes have increased. Factor in the fact that my tax dollars are being squandered by financial mental midgets and you have on POed member of the ever shrinking middle class here.
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whatever4 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-05 07:53 AM
Response to Original message
3. While the job market sinks, new housing busts and confidence at 15 yr low
But the big money got bigger.

Gee, wonder how they did that :(
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NewJeffCT Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-05 07:54 AM
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5. and any day now
that money will start trickling down to the poor & middle class... right after pigs start flying.
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ClintonTyree Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-05 07:56 AM
Response to Original message
6. While the number of those falling into poverty.....
reach record numbers as well. Every year the bush administration forces more and more people into poverty. Every year the bush administration heaps more and more money on the rich. The disparity between the rich and poor in this country has reached a point where things MUST change, and SOON.
A nation is judged as to how well they treat the least of their citizens, our nation is failing badly.
This "trickle down" shit that the Republicans always pull NEVER works. The rich get theirs and KEEP it. NOTHING trickles down but more poverty. Why can't Americans wake up to this fact? The Slugs gave them a $300 rebate check and they all swooned over georgies economic plan. What they refuse to realize is that the rich get the lions share and always will. The only thing that "trickles down" is more taxes on the local level thereby negating any federal tax cut they ever received. Idiots, I live in a country full of ignorant idiots. :grr:
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GreenPartyVoter Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-05 07:56 AM
Response to Reply #6
7. Self-righteous ignorant idiots at that.
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