Sorry, but this is not true in the US.
Millionaire Status is Fleeting
Debates over the equity of the tax burden tend to treat millionaires as a monolithic group even though research suggests that there is a significant amount of churning in and out of this elite status. Indeed, a recent Tax Foundation study used special Treasury panel data to look at the mobility of ?millionaire? taxpayers between 1999 and 2007.[7] It found a great deal of mobility among the so-called rich.
During this nine year period, about 675,000 taxpayers earned over a $1 million for at least one year. As Chart 6 shows, of these taxpayers, 50 percent (about 338,000 taxpayers) were millionaires for only one year, while another 15 percent were millionaires for only two years. By contrast, just 6 percent (38,000 taxpayers) remained a millionaire in all nine years. Based on these results, it is clear that taxpayers move in and out of millionaire status with great frequency. The volatile nature of capital gains realizations and business income appears to be the leading factors for the transiency of millionaires.
IRS data on the so-called Fortunate 400 also shows that even ?super? wealthy Americans are not a static elite club that no one can penetrate. Indeed, the report indicates a great deal of churning among the top 400 taxpayers over a 15 year period. Over that period, 3,305 taxpayers had large enough incomes to put them among the Fortunate 400. However, 73 percent of these taxpayers appeared on the list just once and only 15 percent appeared more than twice. In any given year, 40 percent of these taxpayers had never been on the list in any other year.[8]
http://taxfoundation.org/article/who...s-millionaires
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