Explain why 1 person of every 18 in the USA is a millionaire???

[healthmyths]

Would ANY of you like to go back to 1890s???

Early 1900s, colleges were not exclusive just to children of the wealthy.
Today: college education is FREE! Pell Grants.. scholarships..!!!!
NOT ONE millionaire in 1890 could do what the poor can do today:
1)travel anywhere at no costs including from NYC to LA in one day!

2) Not one millionaire had a FREE cell phone to text their friends!
3) NOT ONE millionaire received free housing, free health..
and today one of every 18 people are "millionaires"!

1850, the US was home to 19 millionaires. But the years following the Civil War had seen a considerable increase in membership of that exclusive club. By the end of the 1890's the number of millionaires in the US had swelled to more than 4,000.

A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in 2007 estimated that there were 16,600,000 millionaires in the USA
Millionaire - Wikipedia, the free encyclopedia

4,000 millionaires in 1890 40 times that ..16.6 million millionaires in 2007!

Population in 1890 --62,979,766 or ratio of 1 millionaire for every 15,744!
Population in 2007 --301,139,947 ratio of 1 million for every 18 people!

Seems there is today 1 millionaire for every 18 versus
in 1890 ... 1 millionaire for every 15,744!!

 

[G.T.]

A million dollars in 1890 was not a million dollars today,






wow

 

[healthmyths]

A million dollars in 1890 was not a million dollars today,






wow

DUH!!!
$1.00 at the beginning of 1890 had the same purchasing power as
$28.10 at the end of 2010.

AND why the qualifiers??
Then this bullcrap about INCOME disparity
MUST take THAT in consideration also!
In other words, the $26,000 a year the poor get in free cell phones, EIT credits, Section 8 housing, Food stamps.. would NOT exist in 1890s!

 

[G.T.]

A million dollars in 1890 was not a million dollars today,






wow

DUH!!!
$1.00 at the beginning of 1890 had the same purchasing power as
$28.10 at the end of 2010.

AND why the qualifiers??
Then this bullcrap about INCOME disparity
MUST take THAT in consideration also!
In other words, the $26,000 a year the poor get in free cell phones, EIT credits, Section 8 housing, Food stamps.. would NOT exist in 1890s!

Exactly. So you'd take a million, divide by 28.1, and then see how many people had THAT much money, if you're comparing to today's millionnaires.

That other diatribe - miss me with it, I'm not in the giving a fuck category.






wow

 

[Big Black Dog]

You're off your rocker... 1 person out of every 18 is not that wealthy. Don't put so much sugar on your corn flakes.

 

[Douger]

Fewer Millionaires Than Thought in U.S. - ABC News

 

[healthmyths]

You're off your rocker... 1 person out of every 18 is not that wealthy. Don't put so much sugar on your corn flakes.

So YOU Don't believe the math???
AGAIN..
FACTS...
A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in 2007 estimated that there were 16,600,000 millionaires in the USA
Millionaire - Wikipedia, the free encyclopedia

So when I divide 310 million
by 16.6 million.. MY math shows:
I'm trying to make it so simple... even a grade school kid would understand!

Divide 310 million Americans by 16.6 million and that equals 18.6 Americans for every ONE millionaire...

Is that too hard for you???

 

[G.T.]

You're off your rocker... 1 person out of every 18 is not that wealthy. Don't put so much sugar on your corn flakes.

So YOU Don't believe the math???
AGAIN..
FACTS...
A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in 2007 estimated that there were 16,600,000 millionaires in the USA
Millionaire - Wikipedia, the free encyclopedia

So when I divide 310 million
by 16.6 million.. MY math shows:
I'm trying to make it so simple... even a grade school kid would understand!

Divide 310 million Americans by 16.6 million and that equals 18.6 Americans for every ONE millionaire...

Is that too hard for you???

Almost as grade school as comparing being a MILLIONNAIRE in 1890's rarity to being a millionnaire now's rarity.

Does not compute / is retarded.

 

[Douger]

So. With an approximate work force of say...........80 million( and that's high) take it from there.
Everyone's a millionaire ! They're everywhere !

 

[healthmyths]

Fewer Millionaires Than Thought in U.S. - ABC News

YOUR above link said:

Four percent, or 4.6 million U.S. households, had net assets of at
least $1 million in 1998,

NOTE 1998 and their stats were of HOUSEHOLDS!

Divide 112 million households by 4.6 million that equals:
1 of every 24 HOUSEHOLDS are millionaires!

Then in 2010!!!! 1 of every 13 households are millionaires!
The Federal Reserve released their latest survey of household wealth earlier this month which indicated that for the fourth quarter of 2010 household net worth increased 3.8% to $56.8 trillion. While positive, and moving in the right direction, a closer look at the data indicates several interesting trends:

About 8.4 million American households had assets of $1 million or more at year end, a gain of 8 percent (see chart courtesy Wall Street Journal

www.lsgifund.com/TVF/3.23.11Report.pdf

THAT is double the 4.6 million households in 1998 and of the
112 million households divided by 8.4 million households is
1 millionaire household for every 13 households!

AGain... WRONG WRONG WRONG!!!

 

[G.T.]

I always wonder how it feels to live in such a bubble.

 

[healthmyths]

You're off your rocker... 1 person out of every 18 is not that wealthy. Don't put so much sugar on your corn flakes.

So YOU Don't believe the math???
AGAIN..
FACTS...
A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in 2007 estimated that there were 16,600,000 millionaires in the USA
Millionaire - Wikipedia, the free encyclopedia

So when I divide 310 million
by 16.6 million.. MY math shows:
I'm trying to make it so simple... even a grade school kid would understand!

Divide 310 million Americans by 16.6 million and that equals 18.6 Americans for every ONE millionaire...

Is that too hard for you???

Almost as grade school as comparing being a MILLIONNAIRE in 1890's rarity to being a millionnaire now's rarity.

Does not compute / is retarded.

What do you mean by "rarity"??
No one mentioned the word "rarity"!
I was simply showing how arithmetic works.. 310 million divided by 16.6 million is 18 people for every one millionaire... not making any judgement or statement of rarity!
Just stating FACTS...
Now do you want specifics.. i.e.
8 million people get for FREE something 1890 millionaires never imagined..free cell phones! The 1890 millionaire also could not understand how 40 million people get free food! Totally unheard of for those "rare" millionaires!
And believe me those 1890 millionaire would NEVER believe TV, radio..the internet and all the Free services 1890 millionaires NEVER HAD!

But as everything else seems to go over your head..
can you understand.. Millions of Americans get free cell, free tv, free food, free rent and PAID for it.. NO MILLIONAIRE in 1890 could even imagine that!

DO YOU have any comprehension of the HIGHEST standard of living our POOR have that was NOT ATTAINABLE much less imagined
by the 1890 millionaires???

What is truly wrong with people like you? YOU have NO comprehension of how "wealthy" America's poor are compared to even other countries today!

 

[G.T.]

you're hysterical over something a toddler could surmise. get a life.

 

[Dragon]

There are two reasons why we have more millionaires now.

One is inflation. A million dollars is not as much money as it used to be.

The other reason is that we have, over the last thirty years, chosen to make it easier to become rich in exchange for making it harder to become middle-class. When I was a boy, it was the other way around.

That may seem contradictory, but it's not. It's always harder to become rich than to become middle-class, but the relative difficulty is not a constant and there is an inverse relationship between them; thus, the easier we make it to become rich, the harder it becomes to earn a middle-class income. That's because the amassing of truly great wealth is made easier by factors such as low wages and low social-welfare spending (e.g. on education) which make it harder for people to earn a comfortable income.

That being the case, having so many millionaires is actually an indictment of our society, not praise.

 

[G.T.]

What do you mean by "rarity"??
No one mentioned the word "rarity"!
I was simply showing how arithmetic works.. 310 million divided by 16.6 million is 18 people for every one millionaire... not making any judgement or statement of rarity!
!

You were taLKING about the rarity, moron:

"4,000 millionaires in 1890 40 times that ..16.6 million millionaires in 2007!

Population in 1890 --62,979,766 or ratio of 1 millionaire for every 15,744!
Population in 2007 --301,139,947 ratio of 1 million for every 18 people!

Seems there is today 1 millionaire for every 18 versus
in 1890 ... 1 millionaire for every 15,744!! "




When in reality, comparing the two is only something an imbecile would do: the numbers mean nothing when not adjusted for the changed value of the dollar.

Do you chew rocks?

 

[Photonic]

Why did no one give me the memo that I am already a millionaire and can travel for free anywhere?


WHY DOES NO ONE TELL ME THESE THINGS?!

 

[healthmyths]

So. With an approximate work force of say...........80 million( and that's high) take it from there.
Everyone's a millionaire ! They're everywhere !

Why do you GUESS about the "work force"???
The Internet is so cool you can get information about HOW many people work in the USA.. OK??

Go to this site: ftp://ftp.bls.gov/pub/suppl/empsit.ceseeb1.txt

Table title:
B-1. Employees on nonfarm payrolls by major industry sector, 1961 to date
November 2011 (p). 131,708,000 people working!

So if you want to use JUST people working.. OK..
131,708,000 people working and 16,600,000 millionaires..
that works out to 1 millionaire for every 8 people working!!!
OK deal with the FACTS!!!

 

[auditor0007]

You're off your rocker... 1 person out of every 18 is not that wealthy. Don't put so much sugar on your corn flakes.

So YOU Don't believe the math???
AGAIN..
FACTS...
A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in 2007 estimated that there were 16,600,000 millionaires in the USA
Millionaire - Wikipedia, the free encyclopedia

So when I divide 310 million
by 16.6 million.. MY math shows:
I'm trying to make it so simple... even a grade school kid would understand!

Divide 310 million Americans by 16.6 million and that equals 18.6 Americans for every ONE millionaire...

Is that too hard for you???

Kind of funny how you take an extreme estimate from one source while ignoring all the other more legitimate sources also documented in your link that say there are only around 3 million millionaires in the US.

But hey, if there are over 16 million millionaires, than that means there are a lot more people we can tax at a higher rate. Now that would be good news.

 

[healthmyths]

You're off your rocker... 1 person out of every 18 is not that wealthy. Don't put so much sugar on your corn flakes.

So YOU Don't believe the math???
AGAIN..
FACTS...
A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in 2007 estimated that there were 16,600,000 millionaires in the USA
Millionaire - Wikipedia, the free encyclopedia

So when I divide 310 million
by 16.6 million.. MY math shows:
I'm trying to make it so simple... even a grade school kid would understand!

Divide 310 million Americans by 16.6 million and that equals 18.6 Americans for every ONE millionaire...

Is that too hard for you???

Kind of funny how you take an extreme estimate from one source while ignoring all the other more legitimate sources also documented in your link that say there are only around 3 million millionaires in the US.

But hey, if there are over 16 million millionaires, than that means there are a lot more people we can tax at a higher rate. Now that would be good news.

Again.. missed the entire POINT!
"WE can tax.." Way to go class warfare all over the place.
YOU being the poverty pimp you are pay less then 10% those that make over $1 million paid in 2008 26% of taxable income in taxes!
BUT YOU don't know that cause you have your eyes and ears closed as most ignorant class envy, barbarians at the gate do!

Total Reported taxes paid Over $10 million income
Total taxable gross income $204.3 billion
Total taxes paid on above $53.7 billion
Total % of gross paid in taxes 26.33%


SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

OH by the way.. let's TAX those wealthy people at 100% OK??
Pick up another $150 billion JUST to spend on things like the following:

sending $4 billion to foreign countries to develop their oil and then tells them we'll be their best customer?
- $2.6 million training Chinese prostitutes to drink more responsibly on the job
- funds a university study of how much alcohol college freshmen women require before agreeing to sex!
- spent $998,798 shipping two 19-cent washers from South Carolina to Texas
- The Association Between Penis Size and Sexual Health Among Men Who Have Sex with Men,
at least $9.4 million went to a ten-year study that included the penis-size research.
GOV’T WASTE: $900,000 SPENT ON GAY MEN PENIS SIZE STUDY. « GILL REPORT – The official website of the Steve Gill Show

LOT of sense there folks!!!

 

[G.T.]

attention whore missed auditor's point and claimed auditor missed the point. news at 11.