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America Lost 129,000 Millionaires in 2011
CNBC ^ | 31 May 2012 | Robert Frank

Posted on 05/31/2012 10:33:23 AM PDT by Cheerio

America’s millionaire population declined last year for the first time since the financial crisis, according to a new report.

(Excerpt) Read more at cnbc.com ...


TOPICS: Government
KEYWORDS: communism; dncagenda; kingofthedeficit; obama; obamaagenda; obamaeconomy
Let Zero add his Buffett Tax and let's see how many more we can get to disappear (leave for greener pastures).
1 posted on 05/31/2012 10:33:25 AM PDT by Cheerio
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To: Cheerio

Did anyone look under the couch cushions?


2 posted on 05/31/2012 10:34:50 AM PDT by Mr. K (I AM WRITING-IN PALIN/GINGRICH)
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To: Cheerio

Last year I was a thousandaire, this year I’m a hundredaire.


3 posted on 05/31/2012 10:36:02 AM PDT by BipolarBob (Note: Whoever stole my copy of MS Office, I will track you down. You have my Word.)
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To: Mr. K

CHANGE!


4 posted on 05/31/2012 10:36:28 AM PDT by massgopguy (I owe everything to George Bailey)
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To: Cheerio
Don't worry! Obama, Pelosi and the career politicians™ got richer and richer so it's all good.
5 posted on 05/31/2012 10:38:27 AM PDT by liberalh8ter (If Barack has a memory like a steel trap, why can't he remember what the Constitution says?)
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To: Cheerio

Where did they all go?


6 posted on 05/31/2012 10:43:12 AM PDT by brooklyn dave (obama = jimmy carter 100X)
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To: BipolarBob

Next year you’ll be a wooden nickelaire


7 posted on 05/31/2012 10:44:24 AM PDT by brooklyn dave (obama = jimmy carter 100X)
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To: Cheerio

Its working!! ITS WORKING!!! The Great Equalizer of Economic Outcomes is hard at work.


8 posted on 05/31/2012 10:46:10 AM PDT by Elsiejay
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To: brooklyn dave

By allowing President Bush’s tax cuts to retire, Present Obamalamadingdong will be increasing the bottom rate from 10% to 15% and the 20% bracket to 25%.

Do the math with me:

Raising the 10% bracket to 15% represents what percentage of increase? Hint: The correct answer is NOT 5%.

Raising the 20% bracket to 25% represents what percentage of increase? Hint: The correct answer, again, is NOT 5%.

Finally, raising the 35% bracket to 39% represents what percentage of increase: Hint: The correct answer is NOT 4%.

Extra credit question: People in which tax bracket will see the largest percentage of increase in their taxes?

Extra extra credit question: People in which tax bracket will see the smallest percentage of increase in their taxes?

To those moving from the 35% to the 39% tax bracket...that’s roughly an 11% increase in taxes.

From 20% to 25%...that’s a full-blown 25% increase in taxes.

To those moving from the 10% bracket to 15%, their taxes will be increased by a whopping 50%.

So the low-income people get their taxes raised even more when seen as a percentage. And the rich folks lose a higher magnitude of money...but the percentage compared to what they already make is lower.

good times...sell whatever you don’t need now.


9 posted on 05/31/2012 10:47:15 AM PDT by TurboZamboni (Looting the future to bribe the present)
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To: Cheerio

Obama and the dem’s “spread the wealth” is working.

Obama must be so very proud.... damn him, damn him to hell.


10 posted on 05/31/2012 10:51:40 AM PDT by Gator113 (***YOU GAVE it to Obama. I would have voted for NEWT.~Just livin' life, my way~)
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To: Cheerio

Aren’t they supposed to foot the bill for all the crazy government spending? If there are less “rich” people they will just have to pay more. That will fix it for sure.


11 posted on 05/31/2012 10:52:23 AM PDT by Tammy8 (~Secure the border and deport all illegals- do it now! ~ Support our Troops!~)
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To: Elsiejay

“Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” -Winston Churchill


12 posted on 05/31/2012 10:53:25 AM PDT by TurboZamboni (Looting the future to bribe the present)
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To: Cheerio

I’m still here. My spreadsheet shows a net worth gain of 6.02% for 2011.

Now income, that was down a little. Who wants to pay tax?


13 posted on 05/31/2012 10:54:22 AM PDT by proxy_user
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To: Cheerio

Its working!! ITS WORKING!!! The Great Equalizer of Economic Outcomes is hard at work.


14 posted on 05/31/2012 10:57:51 AM PDT by Elsiejay
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To: Cheerio

If they keep printing money at this rate we’ll all be millionaires soon. Millions of worthless dollars.


15 posted on 05/31/2012 10:59:04 AM PDT by wolfman
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To: brooklyn dave

They became citizens of Singapore!

BTW, shouldn’t your tagline say, “(obama = jimmy carter x 100)”?


16 posted on 05/31/2012 11:00:55 AM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: Cheerio

a millionaire across the bar from you gives you hope.

hope that you can also become successful through hard work, ingenuity, imagination, persistence, etc

once they vilify the successful and start to tax them into extinction...

then you have no hope of EVER becoming successful.

no amount of hard work, no amount of genius would allow you, or your family, to become successful

that is just the way socialism and all the policies of the left work

under the policies of the left... only those in charge become successful. the rest are left to beg for scraps at the mercy/whim of the anointed and politically favored.


17 posted on 05/31/2012 11:01:20 AM PDT by sten (fighting tyranny never goes out of style)
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To: Cheerio

HOPE is gone, only CHANGE remains in our pockets.


18 posted on 05/31/2012 11:34:00 AM PDT by entropy12 (Hate is the most insidious emotion, it will rot your gut more than anything else.)
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To: proxy_user

Hey! My one year CD just renewed @ .35%! YEEHAW!!! Can’t decide if I’ll buy a case of Rolling Rock or a ham sandwich with the interest check!


19 posted on 05/31/2012 11:53:44 AM PDT by donozark (One in four Confederate Soldiers who fell at Gettysburg came from North Carolina.)
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To: donozark

A quick check of my account reveals I made 8.5% on my stock portfolio in 2011. That is the year that all these millionaires supposedly lost money, according to the article:

“The main reason for all this wealth loss? Stocks.”

“With the wealthy today increasingly dependent on stocks for wealth, last year’s stalled stock market shrunk the population of millionaires and nicked the fortunes of existing millionaires. According to BCG, the amount of wealth held in equities declined 3.6 percent last year.”

I don’t know what these other guys were investing in, but it was not that hard to make money in 2011. This year is a different story.


20 posted on 05/31/2012 12:10:19 PM PDT by proxy_user
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To: Cheerio

wealth is relative, but I do have a question.

If the world’s total economy was divided up equally to each human, how much would be given to each person?

Just wondering after listening to Rush talk about reparations, or was it Beck? Doesn’t matter. ;)


21 posted on 05/31/2012 12:16:09 PM PDT by huldah1776
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To: huldah1776
If the world’s total economy was divided up equally to each human, how much would be given to each person?

Interesting question. Not sure what "world's total economy" means or "divided up equally to" means to you, but one way to take that would be to ask more specifically, "what must each person contribute to the world GDP in order to make everyone equal."

IMF/CIA say the world GDP (GWP?) is about $70T/yr.

World Population is 7B.

Every man woman and child would have to contribute $10k worth of goods and services per year to average out.

That's not at all the question you asked, in fact, it's the opposite.

But I guess it really frames the subtext of such a question. Are we here to take from the people who contribute $100k to the world GDP and give $10k each to 9 people who don't do anything?

Or, should those who contribute less than average be expected to work harder?

Great question!

22 posted on 05/31/2012 12:37:00 PM PDT by sam_paine (X .................................)
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To: Tammy8

“..If there are less “rich” people they will just have to pay more. That will fix it for sure.”

Perhaps they need to be required to read the fable about the man who killed the goose that laid the golden egg.


23 posted on 05/31/2012 1:51:08 PM PDT by Let_It_Be_So (Once you see the Truth, you cannot "unsee" it, no matter how hard you may try.)
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To: BipolarBob

I hear ya. You’re 10x ahead of me, these days.


24 posted on 05/31/2012 4:21:56 PM PDT by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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