Donald,

I’d like to point out RI has bettered its position in 51 state ranking (Including Washington, DC) of having most millionaires with readily available access to $1 million or more in investable or liquid assets.

The Phoenix Affluent Marketing Service, Rhinebeck, NY analyses and tracks aggregate wealth just released their 2008 survey results.

http://www.phoenixmi.com/about/news/financial_services/2008010908.phtml

According to the spread sheet RI has moved up from 20th place to 17th place in number of millionaires per population over the last three years which means RI households are getting wealthier.

Phoenix Affluent Marketing Service 2005, 2006, 2007 spreadsheet

http://www.phoenixmi.com/prfiles/State_Rankings_Millionaires_2005-2007.xls

Ken,

I'm so glad to hear that Sheldon Whitehouse, Myrth York, Jack McConnell, Lincoln Chafee and Patrick Kennedy are still holding their own in this post-subprime economy!

Hallelujah - the liberals won't have to trade in their limousines just yet.

Ragin' Rhode Islander,

Sorry I have a typo

“According to the spread sheet RI has moved up from 20th place to 17th place in number of millionaires per population over the last three years which means RI households are getting wealthier.”

Should be According to the spread sheet RI has moved up from 20th place to 17th place in number of millionaires per “household” over the last three years which means RI households are getting wealthier.”

Evidently Phoenix Affluent Marketing Service, Rhinebeck, NY that tracks wealth has identified 424,216 households in RI that meet the affluent criteria however only 22,550 households have direct access to $1 million or more in fluid assets. I would guess the rest of the households are affluent on paper balance sheets.

From 2005 to 2007 this is an increase of 4,449 households having access to $1 million or more fluid assets and I guess the affluent are not moving out of RI.

Capitalism and Freedom is alive and well in RI.

"which means RI households are getting wealthier."

Actually, from the numbers I was able to find, Rhode Island's ranking for overall per capita income has remained unchanged recently. So as the number of millionaires (presumably retirees moving here from NY and CT) has risen, someone else's income has dropped.

As to your last point, Ken, Rhode Island has the seventh highest taxes and the worst business climate in the country. That doesn't add up to a whole lot of freedom and capitalism.

>>Should be According to the spread sheet RI has moved up from 20th place to 17th place in number of millionaires per “household” ...

Probably entirely attributable to Lincoln Chafee moving back from Virginia! ;-)

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