I doubt that one million dollars makes anybody feel rich. Once you have that much money, $10 million might seem to be required to be rich. And once you have $10 million, you might feel the need for hundred million dollars.
On Sun, May 15, 2005 at 03:39:29PM -0700, Eugene Coyle wrote: > A nice house, free and clear is about $1 million around here. Doesn't > leave spare change for anything else. > > Doug Henwood wrote: > > > Jim Devine wrote: > > > >> Roughly, if you own more than $1 million in net worth, you're truly > >> rich, a capitalist. > >> > >> What percentage of the US population fits this definition? > > > > > > $1m is the 98th percentile of the wealth distrib. See: > > <http://www.nytimes.com/packages/html/national/20050515_CLASS_GRAPHIC/index_03.html>. > > > > Find your own place in the social hierarchy! > > > > Doug > > -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
