Posted by: coastcontact | November 23, 2014

The United States is Home to Millionaires

This is one topic that will not be discussed in the campaign for president in 2016. The U.S.A. is a home for millionaires. There are more in this country than any other nation in the world. The opportunity to become a millionaire is the reason so many people look for every way to enter this nation.

The Boston Consulting Group (BCG) posted this interesting article about wealth in the world this past June titled “Global Wealth 2014: Riding a Wave of Growth.”

Even as the income discrepancy between the average American and the top income earners has become more extreme the number of millionaires around the world has risen to new heights the numbers of millionaires in the United States has grown even more. BCG states: “As the debate over the global polarization of wealth rages on, one thing is certain: more people are becoming wealthy. The total number of millionaire households (in U.S. dollar terms) reached 16.3 million in 2013, up strongly from 13.7 million in 2012 and representing 1.1 percent of all households globally.”

MIllionaires Chart

The number of millionaires in the United States exceeds the total of the next 13 nations combined with 7,135. Among the ultra-rich (families with $100 million in wealth) shown in the third column above, once again the United States has more than four times as many as the next nation (United Kingdom).

The inflow of immigrants to the United States isn’t just the poor. The wealthy are doing their very best to grab a piece of the American pie. Businessweek had an article in the October 20-26 issue about Arcadia, California – a suburban community of Los Angeles that has been inundated with wealthy Chinese buying homes and building mansions there.

Arcadia CA

There is a possibility that you can be a millionaire in the United States. It’s easier than almost any other country in the world. So that’s why we won’t be changing the laws pertaining to millionaires. We won’t penalize you for becoming one too! It is what makes America great. It’s everyone’s goal. You don’t have to know anyone to make it happen. Anyone can be the next Steve Jobs, Bill Gates, or Sara Blakley.

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