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It is simple statistics. Wealth distribution follows the standard Bell Curve, with a few on each end and most in the middle. Those on the left side are defined as "poor" and those on the right re the "rich"
It is not deliberate or willfull or designed-in, it just "is".
It certainly wouldn't be a "standard bell curve". For starters, the curve would be skewed to the left as there are integers of billions and millions to the right of the curve. The left edge of the curve would never come close to the x axis.
Example: There are 442 billionaires at the extreme right edge of the curve. Do you think there are only 442 people at the left edge of the curve. No probably more like 442,000 destitute people on the left edge of the curve.
The truth of the matter is the wealthy are getting more wealthy at the expense of the middle class. Our system is based on capitalism and the concentration of wealth is being achieved by the brightest of the bright. If you look at a historic chart you will find the last time this happend plunged into the great depression. This country has always been at it's strongest when it has had a strong middle class. The distribution of weath in this country is clear. The haves are widening the gap from the have nots.
I don't know who claims that only hard work/ smarts will make you rich. What I do know is hard work and a little common sense will keep you off the welfare wagon.
I grew up poor on a small dairy farm. What we lacked in cash we made up for in determination.
I have worked in the same factory for 21 years. I have nearly $750,000 in my retirement account. Most the People I was hired with have a lot less. Why? Same job, same pay basically, same retirement package. I promoted faster. Why? Because I made it a point to learn as much as could as fast as I could.
While I drive a vehicle 8+ years they like a new car every 2 or 3. I dumped as much money as I could into my retirement while they went on vacations. Every promotion I get, half automatically goes to retirement. Every cost of living, half goes to retirement. No I am not rich but I will be comfortable. The funny thing is I own I nice house on a nice piece of land. It's all about choices.
I am the opposite, I don't save hardly jack, I live for the now, though I am responsible financially for the now, because I know the now is real and a gift. Who knows what tomorrow will bring despite the deepest planning. I have faith that it will work out though.
Nothing is certain, the family, friends or lover you have now could be gone tomorrow. So could your savings, house and all your possessions. Either way it can hurt you, but a car or house or money can be replaced even if not to extent that use to be, so can a lover be replaced in a sense. But family and friends and health and memories? They can't be replaced and those are now, and they may only be now, so I live for the now.
The truth of the matter is the wealthy are getting more wealthy at the expense of the middle class. Our system is based on capitalism and the concentration of wealth is being achieved by the brightest of the bright. If you look at a historic chart you will find the last time this happend plunged into the great depression. This country has always been at it's strongest when it has had a strong middle class. The distribution of weath in this country is clear. The haves are widening the gap from the have nots.
Reggie
Ha ha. That's only true in some cases like the founders of Intel for example. In many cases, especially in the banking and finance industry, it's the most crooked of the crooked who have prospered, at the expense of the American people.
05-29-2013, 12:25 PM
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n/a posts
Quote:
Originally Posted by LostInHouston
It's not that hard to become rich, just be born into rich parents/grandparents. Wealth isn't made/earned in this country... it's inherited.
Eh. A good job and living below your means will also do it.
Once you get past some threshold where you're able to pay all your bills and have a some money left over, it's not hard to start investing and growing your wealth. People choose to use their money to buy bigger houses, nicer cars, etc, instead of saving and investing, which is why we have a pitiful savings rate that hovers in the low single digits. I'm not suggesting people live like paupers, but maybe consider driving a 3 series instead of a 5 series. Perhaps consider a house that is only twice as big as it needs to be.
Now of course all this is easier if you're born with a pile of cash, but hard work can get you there too, provided you're smart about your money.
I would rather have 1% of the income from 100 individuals, than 100% of the income from 1..
Not exact quote, but from one of the famous billionaires
And that is exactly why the government targets the middle class for tax increases. I will NEVER vote for any politician that campaigns on raising taxes, I don't care what the reason or who they point at because they will always get the middle class.
Anytime the government says it wants to raise taxes, even if they are pointing to the other guy, middle class, hold on to your wallet because you are about to take a hit. Your paychecks from Jan on proves that. Obama told you it would be the other guy but he lied, you were in the bullseye too.
I had to laugh as naive Obama supporters gave him permission. Never do anything for spite because it will come back to bite you.
I would have preferred a life of sloth, indolence and depravity but I could not afford it. So I worked for 50 years, banked a lot and have a decent pension. The trouble is the depravity part takes more energy than I have left.
The idea that intelligence, hard work and frugality will make you rich is the greatest myth of all. Intelligence, hard work and frugality will let you live in modest comfort but, without a great deal of luck, it will NOT make you as rich as even a modest inheritance from the wealthy financial class.
For many Americans who make 40,000 to 60,000 a year if they had 1 million and spent ONLY what they use to earn as a wage they wouldn't have to work for 20 years.
Of course if you are use to dropping 10k on a vacation, using 5 star hotels and driving a BMW 7 series and buying $500 shoes yeah a million will go fast.
Or just get real sick a million will go real......real fast.
No doubt. I could make a million last me for the rest of my life. It ain't hard.
Quote:
Originally Posted by eRayP
Obama flat out lied to get high income earners to pay higher taxes, the little guy. These people are not the Buffets or the Gates and they are able to skate around the tax increase. lets say you start a business and it is successful, meaning you make a lot of money. They call these people HENRY'S, High Earner Not Rich Yet.
Congratulations folks, if you ever hope to become a so called "Obama defined" 1%er, you just made it harder to get there.
Meh..you weren't ever gonna be rich anyway.
Quote:
Originally Posted by pghquest
And thats why you're where you are today, and Warren Buffet isnt..
Most businesses arent owned by millionaires
My current company I started when I was homeless..
Yea, right. Everyone on C-D is so perfect.
Geez...try harder next time.
Quote:
Originally Posted by Grainraiser
The truth of the matter is the wealthy are getting more wealthy at the expense of the middle class. Our system is based on capitalism and the concentration of wealth is being achieved by the brightest of the bright. If you look at a historic chart you will find the last time this happend plunged into the great depression. This country has always been at it's strongest when it has had a strong middle class. The distribution of weath in this country is clear. The haves are widening the gap from the have nots.
Reggie
Damn...you hit the nail on the head.
Quote:
Originally Posted by GregW
I would have preferred a life of sloth, indolence and depravity but I could not afford it. So I worked for 50 years, banked a lot and have a decent pension. The trouble is the depravity part takes more energy than I have left.
The idea that intelligence, hard work and frugality will make you rich is the greatest myth of all. Intelligence, hard work and frugality will let you live in modest comfort but, without a great deal of luck, it will NOT make you as rich as even a modest inheritance from the wealthy financial class.
Absolutely. It takes GOO-GOBS of good luck and damn near perfect timing.
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