The Warped Woodturner (TWW) is a local artist traveling his artist's journey in a suburb of Springbrook, WI (pop. 536). TWW's creative calling is to use a wood lathe to make useless objects from locally-sequestered organic carbon for tourists to bring back to the city to give to people they had to buy something for but do not like that much. His target market is the senior citizens since their vision is not as good as it used to be so cannot see the defects as well. His marketing jingle is: “Bowls as simple as their creator”.

Tuesday, April 29, 2008

Getting hard up for life enrichment

It was 15 degrees this morning. We are staying inside a little bit longer today until global warming heats things up a little. For life enrichment we decided to see what it means to be a millionaire. The table below based on the Bureau of Labor Statistics inflation calculator shows what it meant to be a millionaire in the decades past compared to how much it takes today. For example in 1960 if you had $1,000,000 in your hand it made you a millionaire. Today would take $7,213,783.78 in your hand in 2008 to have the same amount of money as in 1960. Today we have more millionaires but they have less wealth than millionaires in the past.

1960 - $7,213,783.78
1970 - $5,503,298.97
1980 - $2,591,359.22
1990 - $1,633,726.09
2000 - $1,240,000.00

What this table shows is it is easier to be a millionaire today but being a millionaire no longer makes you rich. Tell this to your favorite politician the next time you ask them to tax the rich.

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