Predictions for Wealthy Americans in 2010

One Wall Street Journal blogger makes the following predictions for wealthy Americans in 2010:

1. The number of millionaires will increase slightly as part of a recovering economy,
2. Inequality among the wealthy will be greater than previous years because a recession is more harmful to those will less money to lose. 
3. New millionaires will be more like the slowly self-made millionaires of the distant past rather than overnight millionaires of the more immediate past.
4. Luxuries enjoyed by the wealthy will return, but at a scaled back level.
5. The wealthy can expect higher taxes.

See Robert Frank, 2010 in Richistan: The Year of the Muddling Millionaires, WSJ, Dec. 30, 2009.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this to my attention.