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Originally posted by MystikMushroom
reply to post by Wrabbit2000
Why can't we magically wipe out the debt, and then magically give back people what they had in the first place? I mean, we already are printing money out of thin air? We're not backed by anything...
Originally posted by winterkill
So if we took all of the money from
- The Rich
- The Corps
- The sporting events
- Every source of income in America,
We could pay off 1 Trillion dollars of the Debt.
Only 15 more to go.
Define hooped.
If Dems made that IDIOTIC argument everytime the GOP wanted to trim a program....DOES IT PAY OFF THE DEBT? NOPE...SO KEEP IT!!! Then spending would rocket.
Originally posted by MystikMushroom
I think the Gov. should just get out an eraser...
If any country gets pissy that we're not going to pay them back,
U.S. Has Record Number of Millionaires
If further proof were needed of the two-speed recovery–the rich and the rest–now comes news that America has a record number of millionaires.
According to the annual World Wealth Report from Merill Lynch and Capgemini, the U.S. had 3.1 million millionaires in 2010, up from 2.86 million in 2009. The latest figure tops the pre-crisis peak of three million.
Merrill and Capgemini define millionaires as individuals with $1 million or more in investible assets, not including primary home, collectibles, consumables and consumer durables.
The wealth held by these millionaires also hit a record. North American millionaires had a combined wealth of $11.6 trillion, up from $10.7 trillion in 2009.
If further proof were needed of the two-speed recovery–the rich and the rest–now comes news that America has a record number of millionaires.
According to the annual World Wealth Report from Merill Lynch and Capgemini, the U.S. had 3.1 million millionaires in 2010, up from 2.86 million in 2009. The latest figure tops the pre-crisis peak of three million.
Merrill and Capgemini define millionaires as individuals with $1 million or more in investible assets, not including primary home, collectibles, consumables and consumer durables.
The wealth held by these millionaires also hit a record. North American millionaires had a combined wealth of $11.6 trillion, up from $10.7 trillion in 2009.
The number of Americans with $30 million is still slightly below the pre-crisis peak. In 2010 there were 40,000 North Americans with $30 million or more, up from 36,000 in 2009.
Why are millionaires doing so much better than everyone else? Financial markets. Remember, the rich depend on financial markets (which have rebounded) while the rest of America depends on jobs and homes for wealth–both of which remain in a slump. According to the report, global equity markets rose 18% in 2010. Since the wealthy have a larger share of their fortunes in stocks, they would have benefited
Originally posted by Hefficide
In 1980 America had about 574,000 millionaires. That is when "supply side economics" or "Reaganomics" began.
After the 2008 global meltdown that number dropped, from a high of roughly three million millionaires ( or wealthier ) to roughly two and a half million of them. That is after a major fiscal event.
Since? From June of 2011:
U.S. Has Record Number of Millionaires
If further proof were needed of the two-speed recovery–the rich and the rest–now comes news that America has a record number of millionaires.
According to the annual World Wealth Report from Merill Lynch and Capgemini, the U.S. had 3.1 million millionaires in 2010, up from 2.86 million in 2009. The latest figure tops the pre-crisis peak of three million.
Merrill and Capgemini define millionaires as individuals with $1 million or more in investible assets, not including primary home, collectibles, consumables and consumer durables.
The wealth held by these millionaires also hit a record. North American millionaires had a combined wealth of $11.6 trillion, up from $10.7 trillion in 2009.
Wall St Journal
Then there's this...
If further proof were needed of the two-speed recovery–the rich and the rest–now comes news that America has a record number of millionaires.
According to the annual World Wealth Report from Merill Lynch and Capgemini, the U.S. had 3.1 million millionaires in 2010, up from 2.86 million in 2009. The latest figure tops the pre-crisis peak of three million.
Merrill and Capgemini define millionaires as individuals with $1 million or more in investible assets, not including primary home, collectibles, consumables and consumer durables.
The wealth held by these millionaires also hit a record. North American millionaires had a combined wealth of $11.6 trillion, up from $10.7 trillion in 2009.
The number of Americans with $30 million is still slightly below the pre-crisis peak. In 2010 there were 40,000 North Americans with $30 million or more, up from 36,000 in 2009.
Why are millionaires doing so much better than everyone else? Financial markets. Remember, the rich depend on financial markets (which have rebounded) while the rest of America depends on jobs and homes for wealth–both of which remain in a slump. According to the report, global equity markets rose 18% in 2010. Since the wealthy have a larger share of their fortunes in stocks, they would have benefited
Now I am not a genius with math. But I'm smart enough to know that the when you sit down to dinner with your family and one kid spoons 90% of the mac and cheese onto just his plate - then looks up and says "Uh oh, we're in some mac and cheese based trouble!... the resolution is pretty obvious.
~Heff
edit on 12/7/12 by Hefficide because: (no reason given)
Originally posted by burdman30ott6
Now, look at the above list and ponder with me why, in the blue hell, the two largest chunks of expenditures on this list are supposedly "untouchable"