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Reply #4: Weath is measured not by income but by ownership, that is net worth [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

whistle

(1000+ posts) Send PM | Profile | Ignore

Mon May-05-08 09:14 AM
Response to Original message

4. Weath is measured not by income but by ownership, that is net worth

....net worth = total assets - total liabilities

What you OWN minus what you OWE For most Americans the largest asset has traditionally been their homes, but today with the advent of the housing bubble burst even that is threatened. Wealth has always been taxed and now that the housing valuation bust is here people are paying far more tax for their homes and other assets then they should be

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