Blog on the Run: Reloaded

Saturday, May 10, 2014 8:37 pm

Actually, only PART of the 1% is the problem. But we don’t know which part.


OK, strictly speaking, it’s the top 8%: CNBC commissioned a poll of U.S. households with $1 million or more of investable assets. And to a significant (and, to me, surprising) extent, they think a lot like you and I think on the economy:

  • 51% believe income inequality is a “major problem” for the country.
  • 64% support higher taxes for the wealthy.
  • 63% support increasing the minimum wage.

Now, they don’t think exactly like us; they’re likely to overestimate the effect of a good education and hard work (America tops only the U.K. in social mobility among the 20 wealthiest nations), and they tend to underestimate the effect of inherited wealth and luck.

But the fact remains that close to two-thirds of millionaires think they, themselves, should be paying more taxes and that the minimum wage should be higher. Just thought you should know we have some support among their ranks.

 

 

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