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They're getting richer by screwing everyone non-wealthy (the middle class and the poor).
The foxes are in the henhouse, and it's a financial bloodbath. Death is all around, with grinning foxes. Nice job @ssholes...
Except for government and gangsters, nobody can get rich by screwing everyone.
Please name one example. Even for gangsters, they can't get truly rich by screwing others - they may get a few million, but to become a billionaire, they need to serve others, not screw others.
The ratio of rich people who inherited wealth versus those who made their own wealth hovers historically around 1:4. In every 5 rich people, 1 got that way from inheritance and the other 4 got that way through work. Too many articles from too many different sources out there to list them all, but start at "The Millionaire Next Door" and educate yourself.
Quote:
Originally Posted by lifeexplorer
A) Not true at all. 80% of millionaires are first generation and self-made.
B) Poor neighborhoods don't have nice cars because once people get rich, they move away.
I hate to break it to you, but this simply isn’t true. Most high net worth people are from AT LEAST upper-middle class families. They leveraged those networks, along with parental support to create their wealth. Ivanka Trump, for example, has inheirited nothing.
I have good friends who are doctors. They are just under 40, and they live in $1 million home. Neither inherited a penny. BOTH of them grew up in two-doctor households.
I became a right-winger as soon as learned Economics 101. The way to grow wealth is to PRODUCE more than you CONSUME. Then you LOAN your SAVINGS to people who CHOOSE to go into DEBT and their money flows up to you. As soon as you realize this, you understand why income inequality exists.
For example, 61% of millionaires drives Honda, Toyotas and Fords. Jazz Bezos drives a Honda Accord and Bill Gates drives a Ford Focus. But as soon as you drive into a poor area you see Cadillacs and Lexuses.
Tell us all more about economics and yer RWNJ politics.
I hate to break it to you, but this simply isn’t true. Most high net worth people are from AT LEAST upper-middle class families. They leveraged those networks, along with parental support to create their wealth. Ivanka Trump, for example, has inheirited nothing.
I have good friends who are doctors. They are just under 40, and they live in $1 million home. Neither inherited a penny. BOTH of them grew up in two-doctor households.
That's statistics.
My doctor friends all came from poor families and now they are millionaires.
My doctor friends all came from poor families and now they are millionaires.
Steve Jobs is another example.
You must be old. My doctor friends from poor families just finished paying off their student loans, and none have a net worth anywhere near 1 million. Also, there aren’t a lot of doctors from poor families. Don’t believe me? Go to a medical school graduation, and see how many graduates are hooded by a parent.
What is the definition you use? Trump will claim he is self-made. Only got a very small loan.
How many billionaires had parents that were lower middle class, working class or poor?
There are very few billionaires in America for one, and for two, I was talking about "millionaires and up" and between books and articles, the 20% inherited to 80% self-made thing is where virtually all research into the subject lands.
Donald Trump would clearly be in the 20% that inherited wealth. Obviously. No doubt. I have never debated otherwise.
But once more...WHO CARES? How he obtained his wealth is irrelevant. Most presidents who were wealthy prior to entering office married their money. Washington, Adams, Monroe, Harrison, Tyler, Pierce, Grant, Cleveland, etc all married into wealthy families.
Even then...who cares? Why does it matter how one comes to wealth in this country, so long as they did not initiate force upon or cause harm towards others while doing so? Why do you hate inherited wealth so much?
You must be old. My doctor friends from poor families just finished paying off their student loans, and none have a net worth anywhere near 1 million. Also, there aren’t a lot of doctors from poor families. Don’t believe me? Go to a medical school graduation, and see how many graduates are hooded by a parent.
Again, statistically, 80% of millionaires are first generation and self-made.
If someone keeps his job for 30 years, continues to fund his 401K in full, and does not have kids and not buy a house, he will be a millionaire.
That's a mathematical certainty.
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Hey n00b...
