Topic: Number of millionaires falls 40% in two years

[IronDioPriest]

If the Left's goal is to eliminate self-made opportunity and prosperity in service of the creation of a growing dependent class, they are succeeding.

Millionaires Vanishing: Are Progressives Satisfied Yet?

One of the Progressive Movement’s core doctrines is that the economy is a zero sum battle ground where the rich face off against middle class workers with one side enjoying greater prosperity only at the expense of the other.  But in reality their interests are in harmony and their fortunes rise and fall together.

The IRS just released statistics for the 2009 tax year.  Since progressives’ ideology identifies “income inequality”  as the evidence that workers are losing the battle they should be pleased to learn that the effects of recession has been particularly harsh for the group they most love to hate, millionaires and billionaires.

    * In 2007  approximately 3 of every 1,000 taxpayers earned more than $1 million.
    * By 2009 the number had fallen by 40% to fewer than 2 of every 1,000 taxpayers earning over $1 million.

More, including graphs, at the link...

[charlesoakwood]

Man, that's a chunk of change. 
They're not talking accumulated net worth they're talking every year. 
Man, that's a great loss to the nation.


Hey Barahma, how much revenue did that cost you?  You putz.

[charlesoakwood]

That "number of private sector jobs" is a leading indicator; look for the "taxpayers with over $1 million of income" to drop like a rock next year.

[AlanS]

That "number of private sector jobs" is a leading indicator; look for the "taxpayers with over $1 million of income" to drop like a rock next year.

But keep a look out for that public sector boom.