georgephillip
Diamond Member
Are you now or have you ever been a millionaire?Millionaires grow with the stock market.
Last year the number of millionaire households in the US increased by 600,000.
Also in 2010 the US added 5,000,000 Americans to the national food stamp program.
With the stock market soaring over 100 percent from March 2009 lows, the richest 1% of the US population now controls 42% of all financial wealth.
Don't expect to hear/read these numbers in the corporate press.
The financial scam of...
Um. Don't you know the difference between Income and Net Worth?
A net worth of $1 Million is not that much, and for most people, the largest share of it is the equity in their homes, with the second largest bit being their 401Ks.
"A 'millionaire's tax increase' is politically viable -- because the public supports raising taxes, when they understand that they're not the one who will pay them. That's why, for example, a tax on oil company profits always polls very well.
"In 2004, California voters passed Proposition 63 by State Senator Darrell Steinberg -- a 1% surcharge on incomes of over $1 million, which was specifically targeted at funding mental health services.
Would a federal surcharge on incomes over $1,000,000 be acceptable to you?