Number of millionaires in America increased 16 percent in 2009.

[G_j]

http://thinkprogress.org/2010/03/09/millionaires-16/

Number of millionaires in America increased 16 percent in 2009.

A new study released by the research and consulting firm Spectrem Group finds that the number of millionaires in the United States increased by double digits the last year. According to Spectrem Group’s data, “families with a net worth of at least $1 million, excluding primary residences, rose to 7.8 million in 2009,” an increase of 16 percent:

The millionaires’ club in the U.S. grew by 16 percent in 2009, following a 27 percent decline in 2008.

Families with a net worth of at least $1 million, excluding primary residences, rose to 7.8 million in 2009, an increase from 6.7 million a year earlier, according to a survey of high- net-worth U.S. households conducted by Spectrem Group.

“With the markets trending upwards, we expected an increase,” George H. Walper Jr., president of Spectrem Group, said in a telephone interview. The Standard & Poor’s 500 Index increased 24 percent in 2009 and has risen 68 percent over the past 12 months

While the number of American multimillionaires rose last year, Americans continued to suffer from the Great Recession. The unemployment rate reached double digits, millions of Americans lost their homes, and wages for most workers stagnated. The United States is unique among industrialized countries in its enormous income inequality. Data from the U.S. Department of Labor shows that if income inequality continues to rise at the current rate, the income gap in the United States “will resemble that of Mexico by year 2043.

[RKP5637]

1. The rich get richer and the poor get poorer, many in US will be living in a 3rd

world country, eventually, through no fault of their own.

[G_j]

2. yes, how many lost their jobs, homes, went bankrupt over medical bills

during that same period?

[Blue_Tires]

3. well the rest of us certainly don't have it,

so it follows that the people up top do...

[RKP5637]

4. This is an example of the US moving more fascist in a runaway failed capitalistic system for

the majority of the country. And this will never get under control as long as congress is legally bribed by corporations and lobbyists. We need public campaign financing, but none of these takers in congress will ever allow that... they've got too much going for themselves. The majority of the citizens are screwed in this country now, it has gone too far over the edge IMO.

[Bryn]

5. Someone once said

something like... "behind every rich person there's crime"

bootlegging (old days)
drugs
not paying taxes
charging high interests
buying up land for cheap then break them up & re-sell them for much higher prices (yes, this is crime!)
raising animals that suffer for food/eggs, etc. in crowded places
overpriced football/baseball players
overpriced actors/actresses (they shouldn't be paid in MILLIONS!)
many worthless politicans who don't do anything for us the people, but pocket $$$$$$$$$$ from corporations, drug companies so these people are the worst and smell really, really bad!!! (sorry Blanche Lincoln)
porn
preachers who scare people into giving them money or they will go to hell
health insurance companies who with help of federal government force us to buy their worthless policies then pay only a tiny bit of our medical costs.

... many more you can think of!!

very very very few people get rich by honest way. (I am not talking about about people who are born with silver spoons in their mouths!)

[RKP5637]

7. Generally nice guys don't get overly rich. Many wealthy stepped on a lot

of people in their lives. And many once poor forget their roots when they get wealthy.

[NightWatcher]

9. why do some think it's criminal for actors/athletes to make a lot of money

if a movie makes shitloads of money, who should be the ones taking a bigger cut the actors who drew the people to the theater or the producer who never got off his ass and usually only invested other people's money in the venture to begin with?

if a sports team draws millions of fans who pay top dollar for tickets, tee shirts..... why shouldnt the players make the money instead of the suit sitting a luxury seat?

...

too continue,
Bootlegging? I have no problem with bootleggers, rum rummers and the such (both of my grand fathers made a little by running shine in the Carolinas)

PORN??? we all get paid for our time and out efforts, porn actors and actresses put out a product that rakes in billions, Once again who should make the money, the suits or the person on their knees?

Labor creates all wealth.

[Wilms]

6. Who wants to be a millionaire?!?!?!

Ya'all get it now? :shrug:

[raccoon]

8. Who cares? A million ain't what it used to be. Not that a million is to be sneezed at.

But these days, especially depending on where you live, it doesn't mean you're rich.

[G_j]

10. to many it is

like all the people who could never hope to have a million bucks in their lifetime.

[raccoon]

11. Inflation is their friend. I can remember when $10,000 was a good salary.

Just in case, :sarcasm:

[hfojvt]

12. except the number is still down, way down

by my calculations
2007 - 9.17 million
2008 - 6.7 million
2009 - 7.8 million

thst looks to me like 1,370,000 FEWER millionaires

I am moderately curious about the entire laast decade, but not enough to actually google it and look it up.

According to stats I already have. In 2002 there were 110,052,000 households. 34.1 million of them had less that $10,000 in assets and 9.35 million had more that $500,000. The median seems to be about $55,000 as 52.8% had more than $50,000.