How Much Money Does It Take To Be Rich?

This was the topic of a recent article in the Houston Chronicle called Got $5 million? Consider yourself rich, experts say. Here is a brief exerpt of the article:

"most people in finance use the $5 million mark, and apparently others agree. In a January telephone survey of 253 people with at least $500,000, 45 percent said it takes at least $5 million to qualify as rich.

Another 25 percent said $25 million, and 8 percent picked $100 million, according to the Spectrem Group, a consulting firm that specializes on research about wealth. For the Internal Revenue Service, earning $349,700 qualified for the top-tier 35 percent tax bracket in 2007.

The Securities and Exchange Commission, meanwhile, requires individuals to earn $200,000, couples $300,000 or households to show they have $1 million in the bank before they're considered wealthy enough to safely invest in lightly regulated instruments like hedge funds.

The U.S. Census Bureau, which in its most recent annual Current Population Survey in 2006, estimated that 2.3 million households — or 1.9 percent — brought in at least $250,000, the highest figure it measures."

Colbert bump' benefits Democrats

It seems that when Democrats appear on the Colbert Report, they get an increase in campaign contributions. But this does not happen to Republicans who appear on the show. Here is the link:

Colbert bump' benefits Democrats

Should We Pay Students To Study?

I am curious to see what my students think of this. But before I get to it, here are links to stories about "Obamanomics" (which also have some info on McCainonomics, I guess).

New York Times

Barrons

Here is the link to the Wall Street Journal article on the studying issue and its intro. I also have a link to another story about this in case anyone can't get into the WSJ link.

When Schools Offer Money As a Motivator

"More and more school districts are banking on improving student performance using cash incentives -- a $1,000 payout for high test scores, for example. But whether they work is hard to say.

In the latest study of student-incentive programs, researchers examining a 12-year-old program in Texas found that rewarding pupils for achieving high scores on tough tests can work. A handful of earlier studies of programs in Ohio, Israel and Canada have had mixed conclusions; results of a New York City initiative are expected in October. Comparing results is further complicated by the fact that districts across the country have implemented the programs differently."

Pay for grades — does it work?