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Originally Posted by bluedog
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Okay, never mind that the article is three years old and is contradicted by newer reports
Fewer New Millionaires in U.S. Thanks to Economic Slump
Fewer New Millionaires in U.S. Thanks to Economic Slump
But how many of those new millionaires are from industries that typically used to produce millionaires (construction, small retail stores, innovating & building new products) and how many are from servicing billionaires (financial markets, REITs, distribution) and servicing our military?
I'm also betting that a full third of the new millionaires share the same last name as the billionaires, or at least their spouses did.
Take a look at the stats on how many millionaires actually stay millionaires. Know anyone in construction? Ask them if their incomes are going up or down? Know anyone who owns a gas station? Ask them the same question. Know anyone who owned a "mom & pop" store anywhere near a Wal-Mart? Are they still in business? Is their income going up or down? Know anyone developing innovative software to sell to companies like Google or Yahoo? They're about to see their hopes and fortunes crushed by Microsoft, even though it will cost Microsoft major losses to do it. But, no worries, Microsoft will gain it back once Yahoo and Google no longer exist...