Does America Have too Many Rich People? |
| Does America Have too Many Rich People? Posted: 15 Jun 2011 09:16 AM PDT At last count, the U.S. has 5.2 millionaire households, and somewhere around three million individual millionaires. That is by far the largest number for any country in the world. And the individuals represent about 1% of the population. Should the U.S. have more? Less? There is, of course, no ideal number of millionaires. All we have is public opinion. And a recent Gallup poll on wealth shows that Americans, for the most part, think the U.S. has just the right amount of millionaires. When asked, “Do we have too many rich people in this country, just the right amount or too few,” 42% (the largest number) said “just right.” Another 31% said “too many” (down from 37% in 2007) and 21% said “too few” (up from 17% in 2007). And the trend is turning slightly back in favor of the wealthy after the recession. The key issue, though, isn’t how many millionaires we have, but how much wealth do they have relative to the rest of the country. Fully 57% of Americans believe wealth should be more evenly distributed, compared with the 35% who believe the distribution is “fair.” Yet even on the distribution issue, America is looking more favorably on the wealthy. That 57% is down from 68% in 2008. In fact, the number of Americans wanting a more fair distribution of wealth is at the lowest point since 2001. Do you think we need more millionaires, or a different distribution?
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| Bill Gates’ Children Mock Him With ‘Billionaire’ Song Posted: 14 Jun 2011 11:34 AM PDT Lots of people have poked fun at Bill Gates over the years, from David Letterman to Bill himself (here on his “last day” video.)
His children get to make fun of their dad every day. Often, in song. According to this article in London's Daily Mail, Gates' children’s favorite way to taunt dad is to sing him "Billionaire," by Travie McCoy and Bruno Mars. "The Billionaire song is what my kids tease me with," he said. "They sing it to me. It's funny." For those unfamiliar with the song, here are some lyrics, some of which Gates happily sang to the interviewer. (BRUNO) “I wanna be a billionaire so frickin bad Buy all of the things I never had I wanna be on the cover of Forbes Magazine Smiling next to Oprah and the Queen Oh every time I close my eyes I see my name in shining lights, yeaaah A different city every night oh I swear The world better prepare for when I'm a billionaire.” (Travie McCoy) “Yeah I would have a show like Oprah I would be the host of Everyday Christmas give Travie a wish list I'd probably pull an Angelina and Brad Pitt and adopt a bunch of babies that ain't never had s— Give away a few Mercedes like here lady have this And last but not least grant somebody their last wish” There may be a reason the kids like to make fun of their dad's wealth. They won't inherit much of it. According to Gates, his offspring–age 15, 12 and 9–will get only a “minuscule portion of my wealth,” though even $20 million can be considered a miniscule portion of $56 billion. And not many teens get to have Bono stay over as their family's house-guest. Here is what they will get: “They will be given an unbelievable education and that will all be paid for. And certainly anything related to health issues we will take care of. But in terms of their income, they will have to pick a job they like and go to work. They are normal kids now. They do chores, they get pocket money.” What other pop songs would apply to Bill?
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