The number of millionaires is increasing - which does this mean?

Question

That only the same already-rich people are getting richer?

Or that more people are BECOMING rich?

This isn't a hard question - we can't clone humans or their bank accounts yet, so more rich people can mean only.....

The poor are NOT getting poorer - we're just importing more of them.

And the middle class is shrinking because so many of them are moving UP - including the new millionaires.

This is a trend that has been pretty consistent since the mid-1980s - there's a smaller middle but over 92% of the exodus has been UPWARD.

CPI has been below 3% for almost two decades now, and the numbers show it's not a bunch of folks who had $950K sitting there for decades finally seeing it go up to $1MM - it's people who 20 years ago had $250K.

Answer 1

Our economy is getting better.

Answer 2

Uh, you got your statistics from fantasy-land.

During the 80's, for example, while a couple thousand people moved from middle up, millions went from comfy to being deep financial trouble (millions, for example, became homeless).

More people have to work more hours, and have less financial security (not to mention health care).

That trend was less during Clinton's time in office, but under Bush has accelerated.

Those at the top have a greater share of everything than since the 19th century.

Although a few people are joining the ranks of the rich, many, many, many more (several orders of magnitude more) are worse and worse off with each year.

Rats, in this screen, I can't read your Additionals, after your dot, dot, dot. If you are ever interested in people answering your questions, you need to put them all in the Details section.

But then, living in a dream world, rather than the real one, you probably don't want people to see what you wrote in order to be able to respond to it.

Answer 3

It means the population is increasing - everything is therefore increasing, the poor, the rich...

It's not a sign that the country is better off, just a sign that someone knows how to slice the numbers to get a figure to dangle in front of suckers.

Answer 4

compare how many went into poverty over the same time to how many got to be millionares...

you should get your answer...

why don't you do that?

and why don't I know these new millionares? I know some that have been millionares for years? no new ones?

AH... THIS IS WHAT YOU DON'T GET...

250K is still rich to most people... 80 percent of Americans don't make over 80K in a year according to the Census... so the rich are getting richer...

Answer 5

It's getting easier to do well; people are getting more educated and there's not as much of a difference between 'classes' as there had been in the past, because there are fewer disadvantages in front of people today.

Also, inflation means that you shouldn't compare millionaires against millionaires of ten years ago, but maybe how many people had 900k ten years ago or something like that.

Answer 6

The Bush tax reduction for the rich is working. They can now stimulate the economy by hiring more gardners.

Answer 7

It means the gap between rich and poor is increasing. Which is very bad. The rich are getting richer and the poor are getting poorer. The middle class is shrinking.

Plz vote mine best answer lol

If u think u know so much y did u ask the question huh now whos dumb der ta der

Answer 8

More people are rich and I'm one of them. But - I don't screw people for it nor do I post meaningless diatribes about quintiles and out of context passages in the quran that support my view of "how it is" supposed to be in my little corner of the world.

Answer 9

EAT THE RICH

Answer 10

Congress is stealing more