AMERICAN MILLIONAIRES.

Lyttelton Times, Volume CXVIII, Issue 18570, 24 November 1920, Page 8

AMERICAN MILLIONAIRES.

Analysis of, the 1919 income tax returns has proceeded far enough to permit tho announcement that there are 20,000 millionaires in tlio United States, with a family population of 5(),000', or one to each 2100 population (says an American paper). In 1917 there were but 16,000, the bulk of tlio increase of 4000 being attributed to war fortunes. But not all of the 20,000 may actually have a million. Tiie conclusion was reached by the number of persons acknowledging an income of at feast 50,000 dollars, the lowest probable’ return on a million. There ire salaried executives receiving 50,000 dollars or more who may not havo accumulated anything like a million. s

Nearly 10,000 of the 20,000 confessed incomes ranging from 50,000 dollars to 750,000 dollars; ninety from that to a million a year, and 162 had over a million income, where thore were only 141 in 1917.

Approximately 4,000,000 heads of families filed income tax reports, but ut least half of these represented families whoso annual income was 2000 dollars or less.

Tho figures aro presented by the Internal Revenue office for information’s Bake. What they may bo twisted to mean will depend upon the individual bent of the commentator. One point of view that may bo overlooked is that with the 50 per cent purchasing power of the dollar the bulk of these millionaires may be only halfmillionaires at that. Ch the same way of figuring there would appear to he 2,000,000 heads of families struggling with incomes worth 1000 dollars or less.