The rich got richer in 2009..I kid you not!

I will no longer tolerate individuals that scream about how horrible it is to tax the rich in this economy. From Reuters via MSNBC:

The rich grew richer last year, even as the world endured the worst recession in decades.

A stock market rebound helped the world’s ranks of millionaires climb 17 percent to 10 million, while their collective wealth surged 19 percent to $39 trillion, nearly recouping losses from the financial crisis, according to the latest Merrill Lynch-Capgemini world wealth report.

Stock values rose by half, while hedge funds recovered most of their 2008 losses, in a year marked by government stimulus spending and central bank easing.

“We are already seeing distinct signs of recovery and, in some areas, a complete return to 2007 levels of wealth and growth,” Bank of America Corp wealth management chief Sallie Krawcheck said.

The fastest growth in wealth took place in India, China and Brazil, some of the hardest hit markets in 2008. Wealth in Latin America and the Asia-Pacific soared to record highs.

Asia’s millionaire ranks rose to 3 million, matching Europe for the first time, paced by a 4.5 percent economic expansion.

Asian millionaires’ combined wealth surged 31 percent to $9.7 trillion, surpassing Europe’s $9.5 trillion.

In North America, the ranks of the rich rose 17 percent and their wealth grew 18 percent to $10.7 trillion.

The United States was home to the most millionaires in 2009 — 2.87 million — followed by Japan with 1.65 million, Germany with 861,000, and China with 477,000.

Switzerland had the highest concentration of millionaires: nearly 35 for every 1,000 adults.

There is no way any fucking republican can now justify their hue and cry about how taxing the rich will hurt the economy. It’s all bullshit folks.

About Dusty, hells most vocal bitch

I am a..brown Cali bitch that is quite the opinionated,political, pain-in-the-ass, in your face kinda girl that also loves baseball and music to a fault. Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.--Albert Einstein-*

Posted on June 22, 2010, in Economy, millionaires, uber-rich. Bookmark the permalink. 4 Comments.

  1. what you trying to do? start some kinda class warfare?

  2. No…just speaking my mind. 😉  The class warfare has been going on for years already.

  3. In 1952 and 53 the Tax Rate was around 97% for the rich.  I remember the 50s as golden years. An awful lot got done, and there were plenty of jobs
    Now the tax rate is around 47%.  How the hell can they be screaming about their taxed to much.   Now I'm going by memory but that's how I recall things. I could be wrong but it's a good story and I'm sticking to it. 😉

  4. Tim, aka ScaredStiff…I think you are right on the mark! Most countries have a far higher tax on folks that are considered “rich”. Only the US lets them get away w/murder.

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