When Socialism Beats Capitalism

Washington Post: “The United States minted about 1,250,000 new millionaire households last year, according to the Boston Consulting Group’s 2014 Global Wealth report.”

“Only China saw larger growth in its millionaire population between 2012 and 2013 than the United States.”

“China’s surge means that the ostensibly socialist country is now home to the second-most millionaires in the world.”

“Boston Global also tracks the number of ultra-high-net-worth households — those with more than $100 million in private wealth. The U.S. leads that, too, with 4,754 — up from 2,989 in 2010. China has 983 households with that much wealth, but that’s up 83 percent from 2010.”

“Socialism is surprisingly good at capitalism, it seems.”

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