Number of millionaires hits record

[MsUSA]

NEW YORK (CNN/Money) - The number of millionaires in America reached record highs in 2004, hitting 7.5 million, according to a new survey.

That represented a gain of 21 percent, the largest jump in the number of U.S. millionaires since 1998, according to the survey by the Spectrem Group, a Chicago-based research firm.

Spectrem counted Americans with net assets of $1 million or more, excluding primary residences but including second homes and other real estate holdings. There were 6 million millionaires in 2001, when the bursting of the tech-stock bubble pruned more than a million Americans from this status.



http://money.cnn.com/2005/05/25/pf/record_millionaires/index.htm?cnn=yes

[nothingshocksmeanymore]

1. Yeah. the number of people living below the poverty level is reaching

record highs too

[BlueEyedSon]

3. I guess that means less people in the middle. Pick a direction folks!

[leftofthedial]

2. we have a sick society

desperately sick

ya gotta love inflation

[endarkenment]

4. vastly inflated housing prices. NT

[demnan]

6. I think you've got it right

Many people are living in Million dollar homes now.

[Democrats_win]

11. Trickle down: McMansions take a lot of natural gas to heat.

Greater demand for natural gas rises prices and the working poor can't afford to heat his house. His kid gets sick from the cold, he looses his house to pay the medical bills and a family is homeless.

This is the culture of the life of Riley for the rich who should be looking at a revolution and their own deserved destruction instead of further tax cuts.

[Ksec]

7. yep. You can be a millionaire if you own a nice home.

[blindpig]

12. the survey did not count primary residence. n/t

[endarkenment]

13. oops

I just noticed that. Nevermind. :blush:

[slaveplanet]

5. Natural progression

when you factor in the devaluation of the federal reserve note.

$1,000,000 now is about equal to what $100,000 was at my birth.

really it's just the poor getting poorer and the middle sliding further back.

[Auntie Bush]

8. The difference is that the Millionaires in 1998 earned it and the new ones

got there because bush* gave it to them/friends with tax breaks and cronyism .

[HockeyMom]

10. Barons and Serfs

Bush agenda is creating a society of barons and serfs. Easier to control the poor than the middle class. And now he is getting his judges who will further his policies of ending the middle class with anti worker policies and making sure women are barefoot, pregnant, out of the workforce, second class citizens.

[Democrats_win]

9. At the expense of education, funding the Iraq war, working poor w/o health

care, and our children paying off the debt that made them rich.

[Mr_Spock]

14. Honestly, $1,000,000 isn't going to mean much in a few years

Get used to the number of millionairs growing rather rapidly...