11-06-2004, 04:59 AM
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Confirmed User
Join Date: Jul 2003
Location: Los Angeles
Posts: 2,754
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Quote:
Originally posted by punkworld
I've heard many numbers suggesting that wealth is largely dependant on wealth of the parents from the left wing, and many numbers suggesting the opposite from the right wing. Needless to say, a random statistic without a source on a message board does not mean much to me.
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I'll quote myself:
Quote:
Originally posted by CET
I've now quoted the figure "88% of all Amerians worth over $10 million are first generation wealthy" several times in this thread. If anyone wants to know where I got that, it's here: The Millionaire Next Door by Thomas J. Stanley and William D. Danko. This book is an exhaustive study into Americans with a net worth of over $10 million. It's a bit of a dry read, but it's under 300 pages and VERY insightful into how wealthy people become wealthy people, as well as how they stay wealthy. One of the things you'll learn is that those that inherit wealthy generally don't stay wealthy for very long. The day of dynasty fortunes is essentially dead, with only a few exceptions (Kennedy, Gore, Bush, etc).
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Quote:
Originally posted by punkworld
There's a slight difference between wealth redistribution and social security. Social security is aimed at making sure people don't go without the basics of life (i.e. making sure people don't starve in the streets), while wealth redistribution as a general concept is aimed at creating more equality in wealth.
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Social security is a broken and fucked up system that needs to be fixed. I would be better off if I put my social security payments into a simple checking account at most any bank.
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