they need more tax breaks!... Can you say "stuck on stupid"?
One percent of households hold 39 percent of the world’s wealth
WASHINGTON — Around one percent of households have 39 percent of the globe's wealth according to a study published Tuesday, pointing to increased inequalities in the wake of the global downturn.
The number of millionaire households across the globe increased 12 percent in 2010, according to The Boston Consulting Group report, increasing millionaires' share of wealth from 37 percent in 2009.
Japan was second with 1,530 and China third with 1,110.
But it is emerging markets in Asia that can expect to see the biggest growth, increasing their share of wealth by 2.9 percentage points in 2010.
Tiny Asian economic powerhouse Singapore boosted the highest number of households with more than a million dollars under management.
Over 15 percent of households in the city state have over a million dollars in assets under management, well ahead of the Switzerland and the oil-rich Arabian Gulf states.
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