Economic deprivation of non-wealthy Americans continues

Wealth is not distributed; it is earned and belongs to those who have earned it.

Perhaps the writer would like to distribute some of his wealth. Call me.

Wealth does not come with hard work, nor is it earned in most cases. Wealth in America is usually inherited, gained through association with others that have knowledge of "deals", etc. or through political connections and marriage. John McCain did not earn his wealth, he married it, so did Kerry. The Clintons earned their money through their political notoriety, books and Bill's speeches. The Bush family gained their wealth through marriage to the Herbert Walker family and Walker's connections to Banking and later oil using money earned through investment in the bank that handled Hitler's money. "W" has never earned anything that didn't come from positions he was appointed to or deals made with family friends and poltical associates. Most wealth comes from investments and luck very few get rich from hard work.

Ghost Dog wrote:

Wealth does not come with hard work, nor is it earned in most cases. Wealth in America is usually inherited, gained through association with others that have knowledge of "deals", etc. or through political connections and marriage. John McCain did not earn his wealth, he married it, so did Kerry. The Clintons earned their money through their political notoriety, books and Bill's speeches. The Bush family gained their wealth through marriage to the Herbert Walker family and Walker's connections to Banking and later oil using money earned through investment in the bank that handled Hitler's money. "W" has never earned anything that didn't come from positions he was appointed to or deals made with family friends and poltical associates. Most wealth comes from investments and luck very few get rich from hard work.

Can you say 'ignoramous'?

I will say this, several of us might be more "advantaged" if we weren't taxed out the ying-yang in order to pay for handouts for others.

The truly handicapped and elderly are excluded, IMO. They deserve help, if they need it.

Ghost Dog wrote:

Wealth does not come with hard work, nor is it earned in most cases. Wealth in America is usually inherited, gained through association with others that have knowledge of "deals", etc. or through political connections and marriage. John McCain did not earn his wealth, he married it, so did Kerry. The Clintons earned their money through their political notoriety, books and Bill's speeches. The Bush family gained their wealth through marriage to the Herbert Walker family and Walker's connections to Banking and later oil using money earned through investment in the bank that handled Hitler's money. "W" has never earned anything that didn't come from positions he was appointed to or deals made with family friends and poltical associates. Most wealth comes from investments and luck very few get rich from hard work.

As usual full of chit with no facts to back up your statements. Please explain just how and where all these new millionaires got their money if they didn't earn it. There are not that many "wealthy" families to have produced such. I certainly did not come from a wealthy family but I dang sure am not economically deprived.I learned early on that wealth, or just a good living comes by hard work and smart work as well.
Those who sit and whine about never having enough need to get off their butts and do something other than whine. You can sit and think about it, dream about it, wish for it or get off dead center and do something about it. Screw those who want to re-distribute my income to make some jerk who won't work or won't work at least two jobs to make it. I've worked three jobs at a time plus went to school to make it. Earn it or do without and shut up whining.

According to a new study, the world's millionaires are not just getting richer - there are a lot more of them.

The 12th annual World Wealth Report released Tuesday by Merrill Lynch & Co. and the Capgemini Group, a consulting firm, says the number of people around the globe with at least $1 million in assets grew by six per cent last year to 10.1 million.

That means an additional 600,000 people became millionaires or richer even as problems tied to the U.S. credit crisis spread in the second half of the year.

The US and Japan produced more of this number than the rest of the countries.

Now idiot tell me that "wealth" comes from already being wealthy.

Coates, you just don't ever learn.

Ghost Dog wrote:

WWalker family and Walker's connections to Banking and later oil using money earned through investment in the bank that handled Hitler's money. "

How many times are you going to repeat that lie. Bush owned one investment stock that owned a share of a dutch bank that was taken over by the Nazis. After the war, he did profit handsomely from it and invested in oil.

timpeck wrote:

Wealth is not distributed; it is earned and belongs to those who have earned it.
Perhaps the writer would like to distribute some of his wealth. Call me.

Dude, whatever you are on - I want some.

Yes, wealth is sometimes earned. But its also redistributed. The universe does not owe the prudent man riches, and the lazy one poverty.

It would be nice if wealth was "earned and belongs to those who have earned it." But it just doesn't work that way in the real world. Frankly, your attitude attitude has strong echoes of Divine Right doctrine.

Sometimes a poor man works hard, and dies a pauper - other times someone is just lucky to have a wealthy sperm donor.

Low Key wrote:

<quoted text>
Dude, whatever you are on - I want some.
Yes, wealth is sometimes earned. But its also redistributed. The universe does not owe the prudent man riches, and the lazy one poverty.
It would be nice if wealth was "earned and belongs to those who have earned it." But it just doesn't work that way in the real world. Frankly, your attitude attitude has strong echoes of Divine Right doctrine.
Sometimes a poor man works hard, and dies a pauper - other times someone is just lucky to have a wealthy sperm donor.

Sometimes chit happens.People born poor and die poor, do so because they have no plan or a clue as to how to form one. Others are born poor, told they are victims and they die poor.Now, please explain how those who were born poor have managed to become rich.My previous post says there are more every day who are becoming rich. They damn sure didn't do it through flippin welfare that you freeking leftnoids seem to want to give to lumps of crap that aren't worth flushing. No, they worked for it. May you should try it instead of whining that it just doesn't work that way and doing so make you a moron and on the same level as the lumps of crap not worth flushing.

Give give give, all the liberals want to do. As far as new millionaire/billionaires, see Bill Gates, Mark Cuban etc. 10 millionaires will be created in the next 10 years per Forbes magazine.(That's a financial magazine for all you welfare suckers who can't read nor desire to). Sure there are exceptions, but how did these people/will these people become millionaires? Not by buying drugs, alcohol and tobacco while letting the rent go.

There is so much wrong with this article that correcting its many factual errors would take a reponse of similar length. I will just point out a few.

"This inequitable wealth distribution"

Income and wealth is earned, not distributed.

"And how much does the bottom 50 percent of Americans own? About 2 percent of total family assets and NO stock at all!"

Not a single person in the bottom 50% has a 401(k), IRA, Mutual Fund, or other investment vehicle? With better than 100 million Americans having such accounts, I call BS on the authors claim.

"dream of becoming wealthy in America by pulling yourself up by your bootstraps has essentially become a myth."

Only to those who are taught that they can not succeed. That America is against them. That the system is rigged. Anyone can go as far as their abilities will take them if they use those abilities.

"An April 2008 Gallup poll found that 68 percent of Americans believe wealth “should be more evenly distributed” in the United States."

Well there is a shocker. I am surprised the number isn't bigger. Who wouldn't answer in the affirmative to a question about them getting more money for free from someone else.

"In fact, the number of working people with 401(k) retirement plans who are taking out loans from their accounts is now at a record high."

How can this be? Just a few paragraphs ago, you claimed these people don't own a single share of stock. Were you lying then or are you lying now?

"The massive diversion of income to wealthy Americans..."

Diversion? You mean that income was enroute to someone who wasn't wealthy and 'the wealthy' divereted it to their own bank accounts instead?

Sorry, thats BS.

I repeat, and the facts are, income and wealth is EARNED.

Ghost,

"Wealth in America is usually inherited,"

Very, very wrong. Better than 85% of millionaires in America today did not get their money from a deceased family member. Infact, more than 90% of that 85% inherited less than $10,000.

Wealth and income are earned.

[QUOTE who="Frank Rizzo"...
I repeat, and the facts are, income and wealth is EARNED.[/QUOTE]

Amen and AMEN !

Isn't it incredible how people will sit at their computer and argue all day that they have no way to become wealthy except through lying, cheating or stealing?

The wealthiest man I personally know started out with nothing and his first job was managing a laundromat, for goodness sake! Then he figured out a way to get a loan to buy the old machines. And has worked hard every day since then.

ALL it takes is hard work and business sense. And A- B tech can help with the business sense.

I think people FEAR becoming successful, because they know there is hard work involved. It is much easier to justify NOT being successful than to actually work hard to get there.

These lazy folks give themselves away every time they write and publish an article like this or whine on some forum.

Local,

The wealthiest man I know has 9 zeros at the end of his net worth. For those using their fingers, that would be Billions.

His first job? News reader on a dinky radio station in Moose Jaw, Saskatchewan.

Ticker wrote:

<quoted text>
Now, please explain how those who were born poor have managed to become rich.

It depends - but most of the time it's thanks to wealth redistribution in the form of public education, civil infrastructure, and judicial protection.

local wrote:

<quoted text>
Can you say 'ignoramous'?

there is a difference between being wealthy and being rich.

Frank Rizzo wrote:

Ghost,
"Wealth in America is usually inherited,"
Very, very wrong. Better than 85% of millionaires in America today did not get their money from a deceased family member. Infact, more than 90% of that 85% inherited less than $10,000.
Wealth and income are earned.

you're a forbes reader, right? forbes subscribes to a very loose definition of "self-made" men. you could inherit millions and still be considered "self-made" by forbes.

GoHome wrote:

Give give give, all the liberals want to do. As far as new millionaire/billionaires, see Bill Gates, Mark Cuban etc. 10 millionaires will be created in the next 10 years per Forbes magazine.(That's a financial magazine for all you welfare suckers who can't read nor desire to). Sure there are exceptions, but how did these people/will these people become millionaires? Not by buying drugs, alcohol and tobacco while letting the rent go.

you sound like a loser yourself. can you read? or do you just focus on money all day?

Low Key wrote:

<quoted text>
Dude, whatever you are on - I want some.
Yes, wealth is sometimes earned. But its also redistributed. The universe does not owe the prudent man riches, and the lazy one poverty.
It would be nice if wealth was "earned and belongs to those who have earned it." But it just doesn't work that way in the real world. Frankly, your attitude attitude has strong echoes of Divine Right doctrine.
Sometimes a poor man works hard, and dies a pauper - other times someone is just lucky to have a wealthy sperm donor.

there are plenty of shady dumba** millionaires in the business world today. sometimes, connections do it all for some lucky people.

mac vs pc showdown wrote:

<quoted text>
there is a difference between being wealthy and being rich.

True. There is also a difference in being wealthy, rich, or in the "top 1% of income earners". There are many people who are rich or wealthy, but have little actual income. Just as there are many in the top 1% of income earners who are far from rich or wealthy.

Mac vs PC,

Its been more than 10 years since I have even leafed through an issue of Forbes.