If that population segment is shrinking, it stands to reason that the “fair share” of taxes from millionaires and billionaires is going to shrink too. Looks Like Wile E. Obama and the ACME Economic Destruction Co. are going to have to re-think their strategy. Or, maybe they already have, since they have lowered the threshold for “wealthy” down to $250,000 in income.
America’s millionaire population declined last year for the first time since the financial crisis, according to a new report.
The population of U.S. millionaire households (households with investible assets of $1 million or more) fell to 5,134,000 from 5,263,000 in 2011, according to The Boston Consulting Group’s Global Wealth study.
Total private wealth in North America fell by 0.9 percent, to $38 trillion.
The ultra-rich were the largest losers in dollar terms. Households in North America with investible assets of more than $100 million saw their wealth decline 2.4 percent. Their population declined slightly to 2,928 from 2,989.