U.S. Millionaires say $7 Million not enough to be rich

Discussion in 'Politics' started by ClosedCaption, Mar 14, 2011.

  1. ClosedCaption
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    ClosedCaption Diamond Member

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    U.S. millionaires say $7 million not enough to be rich | Reuters

    Oh and then this gem at the bottom.

    I really dont know what to say here, too much...
     
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  2. Oddball
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    Oddball BANNED Supporting Member

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  3. Mini 14
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    Mini 14 Senior Member

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    $7 million used to be the "magic number" that you need to all but insure an interest income of $1 million/year. With the struggling economy, that number is rising. I'm a little surprised it they don't think they need 8-10mil.

    But it can still be done EASILY with 7. If you pay attention, it is almost impossible not to.
     
  4. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Inflation affects people.
     
  5. ClosedCaption
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    ClosedCaption Diamond Member

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    and that million wasnt counting real estate or retirement either. They control 55% of the entire nations wealth, they can afford to kick in to keep the place up.
     
  6. God Guns Beer
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    God Guns Beer Member

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    I tend to agree with them. I could see where someone with 7 million worth would have more in common with the middle class than the upper class.
     
  7. Mini 14
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    Mini 14 Senior Member

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    They already do.

    And if you raise the taxes, they'll move the money.

    The bottom line is, they got rich for the same reason they'll stay rich:

    They're smarter than you.
     
  8. ClosedCaption
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    ClosedCaption Diamond Member

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    They already move their money and still have 55% of everything.
     
  9. ClosedCaption
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    ClosedCaption Diamond Member

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    So when a Repub ask you "what is rich?" Remember rich is a feeling, they can amass 55% of all the wealth and still not "feel rich".
     
  10. editec
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    editec Mr. Forgot-it-All

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    Really?

    Clearly you have investment information most of us need, Mini.

    Where can one count on a ROI of slighter greater than 14% annually on a secured investment?
     

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