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We Have a Cool Million More Millionaires in America

According to a recent Spectrum Group study, there are 7.8 million millionaire households in America as of 2009, up from a paltry 6.7 million...

Patrick James
By Patrick JamesMar 11, 2010
Patrick James
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According to a recent Spectrum Group study, there are 7.8 million millionaire households in America as of 2009, up from a paltry 6.7 million millionaire households in 2008. That's a 16 percent increase. The number of households worth $500,000 and $5 million is also up significantly. Great job!Granted, the job market is still flat. And although we're still down from the bubbly high of 9.2 million millionaire households in 2007, having more millionaires isn't necessarily a even good thing. Seeing as we have an ever-widening income gap in this country, which has the power to make us quite literally sick, the presence of more millionaires (even a million of them) doesn't necessarily signal improving economic health for the nation.It's also worth noting that, on the other end of the economic spectrum, we do a rotten job of measuring poverty, meaning that more people are struggling than we'd like to admit.Keep shooting for the moon, everyone.More info at Reuters, via Consumerist.

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