[lbo-talk] Joe the Plumber, $250k+ business owner, as average American?

Wojtek Sokolowski swsokolowski at yahoo.com
Fri Oct 17 15:31:43 PDT 2008


----- Original Message ---- From: Doug Henwood <dhenwood at panix.com> Here are some numbers I worked up from the SCF 2004. It shows net  worth by percentile, divided into residential (value of principal  residence less mortgage on that residence) and nonresidential  (excluding value of principal residence and mortgage on that  residence).

[WS:] What exactly is included in "nonresidential?"  Bank accounts, stocks and bonds, 401k/403b, second house, what else?  Wojtek

--------------------------------------------------------------- "When a candidate for public office faces the voters he does not face men of sense; he faces a mob of men whose chief distinguishing mark is the fact that they are quite incapable of weighing ideas, or even of comprehending any save the most elemental — men whose whole thinking is done in terms of emotion, and whose dominant emotion is dread of what they cannot understand. So confronted, the candidate must either bark with the pack or be lost. [...] All the odds are on the man who is, intrinsically, the most devious and mediocre — the man who can most adeptly disperse the notion that his mind is a virtual vacuum. The Presidency tends, year by year, to go to such men." - HL Mencken ----------------------------------------------------------------

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