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

[Cuyo]

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!!

Hey freakin shot in the dark man, but wasn't a million a lot more money in 1890?

 

[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.

Way to go.. CLASS WARFARE cliche 101!

And you think taxing these wealthy would generate sufficient tax revenue?