Tag Archives | wealthy

Wealth Tax Is Impractical And Unrealistic

Democratic Presidential candidate and Massachusetts Senator Elizabeth Warren is proposing a federal wealth tax. It would impose annual taxes of 2% on those with household wealth—net worth, not income—of over $50 million and 3% on those with over $1 billion. Almost every person who owns a house, commercial building, or investment property pays property taxes […]

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More Americans Joining Ranks of Wealthy

What would it take for you to become a one percenter? How much net worth would put you in the wealthiest one percent in the United States? In a recent discussion with a colleague, I suggested this number was $1.2 million. He said $9 million. Turns out the real answer, which is surprisingly hard to […]

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How the Rich Got Rich

Ask ten people how the rich got rich and you will get at least ten opinions. Some of the more common assumptions are that people become wealthy by inheriting fortunes, taking advantage of those less fortunate, or “playing” the stock market. I even remember one government employee who insisted anyone who obtained wealth had to […]

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Does Income Equal Wealth? Not Necessarily

“How much money do you make?” We don’t ask people that question, but we’d love to know the answer. In this country, we’re fixated on a person’s annual income. That’s the primary measure we use to determine social status and define success. Income also is the qualifier for government welfare programs. It defines people as […]

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