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It would be simpler to use the term wealth, would it not?
Definitely. I had a client come in today, worth approximately 10 million. He had to fill out a financial affidavit stating his yearly income. There are two forms: one for those who make over 50k/year, one for those that make less than 50k. I started to hand him the "over 50k" form, but he stopped me. Apparently he had "0" official income last year. He managed to have and claim a "loss" as his income.
......... ok... fine.
The wealthy know the game, and play it well. It's why I laugh when people who will never see enough money in a lifetime to worry about the estate tax go to bat seeking its repeal for the wealthy.
Now, you are promoting income equalization - is that your intention?
It's a continued stretch (since you said this many times already) to suggest that having minimum standard means "income equalization". Only people refuting an argument never made would make that equivocation.
This information is available at the U.S. Census web site.
Eventually. I posted this earlier, but here it is again...
You could calculate that off the FRB's Survey of Consumer Finances, but it's only done every three years. 2007 was one of those years, but the results of the new version won't be available for at least another year. That means the latest data are actually from 2004 as published in 2006. They actually calculate net household worth, which is pretty much everything that could be turned into cash that everybody in a household owns. From those data, the floors by percentile were...
Top 1% -- $6.0 million.
Top 5% -- $1.4 million.
Top 10% -- $827K.
Top 50% -- $93K.
Probably about as good a set of ballpark wealth figures as you could get...
Eventually. I posted this earlier, but here it is again...
Top 1% -- $6.0 million.
Top 5% -- $1.4 million.
Top 10% -- $827K.
Top 50% -- $93K.
Probably about as good a set of ballpark wealth figures as you could get...
I'll have to look at this site 'cos what I would like to know is what share of the nations wealth do the top 1%, 5%, 10% have for example? Nevertheless thanks for the input.
Location: Oklahoma(formerly SoCalif) Originally Mich,
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Managing your money is something a person has to "learn" how to do.
Myself,,, I learned the hard way, but I learned, and it can improve every aspect of your life. It in itself can turn "alittle" into "alot" and those 2 words vary from person to person.
A poor person who stays poor most likely stays that way because they're happy that way, that is until the hard times hit.
A poor person that has a goal, most likely do not consider themselves poor. Just temperarily in the hole, (for lack of a better word).
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