The Friday real estate ads

The top 1 percent (AGI over $380,354) of Americans paid 38% of the income taxes in 2008. They were hit harder by the recession, so that's a little less than they paid in 2007 (40.4%), because if you don't earn, you don't pay as much in taxes, (as the bottom 50% know) and that hurts the rest of us, which is what the current battle in Congress is about (the so-called Bush tax-cuts for the wealthy). But even with high earnings, you don't buy the sort of houses you see for sale in the Friday Wall Street Journal--that takes wealth which comes from investments and taking risks or having the right grandparents, not income, two very different things.

Saddle River, NJ--6+ acres. Has a soccer field, bocce ball court and stable. $4.7 million.

Stowe, VT--18,00 sq ft, 15 acres. Marble exterior. Indoor pool with waterfall. $16 million.

Wainscott, NY--Georgica Pond home, 2.5 acres, water frontage. $28 million.

Arroyo Grande, CA--homesite near San Luis Obispo and Pismo Beach, from $305,000.