You might ruin their day if you tell them this:
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.
Gee, and all along they thought that the economy sucked. Will their next spin be that this means more people to tax? Or, it could be that these millionares are making their money on the backs of the proletariat in a poor-to-the-rich asset transfer scheme. Probably WalMarts fault. And Bush’s. The data is misleading, or an outright lie.
Two things. One, the economy is chugging along very well. Two, I gotta stop reading the Loon sites.
See? That’s what they don’t get–that America is the greatest place BECAUSE anyone CAN be a millionaire, unlike just about any other country on earth.
I blame Bush. :)