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Monday, March 14, 2011

Millionaires Don't Even Feel Rich.

Posted by Sarah Mirk on Mon, Mar 14, 2011 at 11:14 AM

Here's an Onion-worthy update on the feelings of the nation's millionaires:

More than four out of ten American millionaires say they do not feel rich. Indeed many would need to have at least $7.5 million in order to feel they were truly rich, according to a Fidelity Investments survey... Fidelity noted the wealthiest 5 percent of Americans hold more than 55 percent of the nation's wealth.
In other news, Oregon Republicans are pushing the state to completely cut capital gains taxes (the taxes you pay on profits from investments), which would cost the state $400 million a year. That's exactly what we need to fix the current budget hole: A much larger budget hole.

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