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Poll: Most Think They’ll Never Become Rich

From a triumphant Associated Press:

AP-CNBC Poll: $1 million a long shot in US

By LAURIE KELLMAN – Associated Press
September 19, 2011

WASHINGTON (AP) — Who believes they’ll be a millionaire?

About two in 10 Americans, who are less optimistic than Australians but more optimistic than Britons about becoming wealthy in the next ten years, according to a new AP-CNBC poll.

In all three countries, more than seven in 10 of those surveyed said they were unlikely to become millionaires in the next decade.

Reflecting the psychic toll of the global economic doldrums, solid majorities of Americans — 61 percent — and Britons — 63 percent — say it’s extremely or very difficult for their countrymen to become millionaires today

Oddly enough, this is exactly what the denizens of the old Soviet Union were told for over 70 years.

Polling last month by The Associated Press and CNBC found that Australians are the most optimistic of the bunch, with 29 percent of respondents there saying they feel good about their prospects of eventually becoming a millionaire in the next decade, compared with 21 percent in the U.S. and just 8 percent in the U.K.

In reality, the United States leads the world in millionaires, more than 5.2 million of them in 2010, or nearly one in every 20 households, according to The Boston Consulting Group’s latest annual global wealth report. Great Britain had 570,000 millionaires, or about one in every 45 households. Australia had 133,000 or about one in every 60 households, but that’s an increase of 35,000 over the previous year

This can’t be right. Hasn’t Obama just made millions of more millionaires and billionaires? Isn’t everyone who makes over $200,000 now a millionaire and billionaire in his mind – and according to the IRS?

But that aside, notice how perfectly this poll reflects the news media in each of these three respective countries. Any fair observer would rank the British news media’s hatred of capitalism at the top. Followed by the US at second and Australia in third place.

And, low and behold, the poll respondents’ pessimism about their chances for riches match the country’s news media exactly.

Asked to imagine being millionaires, residents of all three countries had similar priorities for spending it: The bulk of them said they would save it, invest it, buy real estate, pay down debt and share with family, the survey said.

Respondents across the board listed "saving or investing" as their first priority. The last priority? Americans and Australians listed "giving away to charity."

How venal of them. Of course the Americans might just be anticipating Mr. Obama’s higher taxes on charitable deductions.

Brits left "paying down debt" for last, the polls showed

Just imagine if our governments thought this way.

This article was posted by Steve on Monday, September 19th, 2011. Comments are currently closed.

4 Responses to “Poll: Most Think They’ll Never Become Rich”

  1. River0 says:

    In our lifetime we’ve seen all ambition – other than government redistribution of wealth and environmental action – become suspect. Personal ambition has been actively discouraged and even persecuted. Americans have forgotten that the engine of economic freedom – the desire to excel in every way – is what makes us all richer. This is why so many people are depressed and otherwise mentally unbalanced. A free people who lose this ambition and confidence are subject to every kind of attack, mental or physical. We were once relatively free. Remember?

    Notice, however, that certain types of millionaires are lauded, such as Buffett and the kid who started Facebook. They’re “cool” because they endorse all the “right” causes, and want government to control our lives as much as possible so we won’t “make mistakes”. Of course they – the tyrants who run the machine – have total freedom.

    The collectivist crypto-Marxist mind virus is winning now, even after the staggering, malignant failures of the Soviet Union, China, et al. This is their last gasp, though. If they fail to gain total control soon, they will deflate like a massive balloon. Which is fitting, because they have no real substance and depend entirely on the hot air of the mob.

  2. GetBackJack says:

    I’ve been a hero and a zero three times. It hasn’t stopped me from striving. What does stop the majority from reaching beyond their grasp is RiverO’s excellent ” collectivist crypto-Marxist mind virus”. Around here we call it the Voodoo Spore.

    But I also note that of the few Democrat Liberal Leftists I know, boy, are they the most intense money-grubbing, money-at-any-cost folks I’ve ever met. They put Scrooge to shame even as they preach tolerance and compassion for the Have-Nots.

    • proreason says:

      same here gbj.

      and Ii feel like I’ve got a cycle or two left.

      Believe it or not, I’m getting optimistic about 2013. History says I need another rise so I can get slapped down again.

      I’m thinking that one of Romney or Perry isn’t dumb enough to blow it, and that the relief will hit the economy like an uncapped oil well. For sure, either one of them, or any of the others for that matter, will allow drilling, and that alone will be a gusher.

  3. proreason says:

    If I had a few million dollars I would buy new sneakers, a new grille, pants that fall off my hips and some tattoos.

    I’m only interested in the important things in life.


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