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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (293386)7/5/2006 1:15:20 AM
From: Elroy  Read Replies (1) of 1574856
 
. They were for the rich elite in this country who are roughly ten percent of the population

10%? If you're talking based on salary, I don't think you are "rich elite" if you're only in the 10% range. What would that be, $90k per year? If you are talking liquid net worth, 10% still isn't that high. I read some recent research that the US has something like 8 million millionaires. That's less than 3% of the population. Once you get down to 10% it probably means you have $600k liquid net worth. At 5% interest, that's enough to make $30k per year pre-tax without working, doesn't sounds too much like "elite cruising on a yacht rich" if you ask me.

I think you want to focus your discussion on the top 1/2 of 1% if you want to talk about the very rich.
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