Thursday, February 18, 2010

Back When Being a Millionaire Meant Something

From the 1930 blog:
"A record 511 people reported income over $1M in 1928; 26 reported income over $5M, with 11 of those in NY State."
Compare that to this, from Business Week (Bloomberg):
"The 400 highest-earning U.S. households reported an average of $345 million in income in 2007, up 31 percent from a year earlier, IRS statistics show."
So the incomes of the rich have multiplied many times since 1930.  (I won't give a multiple because the figures are apples and oranges.)

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