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aid632007
05-30-2011, 07:42 AM
Do most Rich/Wealthy people start out Middle Class or even Poor if not them their Family Mmbers before them started out lower income ?

Tax Cuts and Class Wars

by Rep. Ron Paul, MD

The class war tactic highlights what the left does best: divide Americans into groups. Collectivists see all issues of wealth and taxation as a zero-sum game played between competing groups. If one group gets a tax break, other groups must be rallied against it — even if such a cut would ultimately benefit them. Yet the class warriors forget that American wealth is not static, but rather very dynamic. Poor people become rich, and rich people lose all of their money. In fact, at no time in American history have more of the nation's wealthy earned rather than inherited their money. Rich family dynasties are increasingly rare, and are quickly destroyed by unproductive spendthrift generations. So when the left attacks the rich, they're attacking a fluid group that many poor Americans hope to join someday by moving up in life. Upward mobility is possible only in a free-market capitalist system, whereas collectivism dooms the poor to remain exactly where they are.

http://www.lewrockwell.com/paul/paul74.html

VBRonPaulFan
05-30-2011, 08:11 AM
i read somewhere that someone studied this and found that most wealthy families move up and down between 1-2 generations. meaning that a parent becomes a self-made millionaire, and by the time his kids/grandkids get a hold of the money - its all blown. kind of makes sense, you're less likely to be thrifty and make wise decisions with money you've inherited because you didn't work for it...

i think if the hard left had its way, everyone would make exactly the same amount because that is the only 'fair' system. they seem to want everyone to be exactly the same...

libertarian4321
05-31-2011, 06:11 AM
The percentage of those who are self made is much higher in the low level wealthy (garden variety millionaires) than in the super rich (people with hundreds of millions or billions), but at both levels, the majority do not inherit a significant part of their wealth.

CaptUSA
05-31-2011, 07:40 AM
Imagine a political system so radical as to promise to move more of the poorest 20% of the population into the richest 20% than remain in the poorest bracket within the decade? You don't need to imagine it. It's called the United States of America. - Thomas Sowell

Pericles
05-31-2011, 08:07 AM
Leftists mistake poverty for equality.

virgil47
05-31-2011, 08:19 AM
i read somewhere that someone studied this and found that most wealthy families move up and down between 1-2 generations. meaning that a parent becomes a self-made millionaire, and by the time his kids/grandkids get a hold of the money - its all blown. kind of makes sense, you're less likely to be thrifty and make wise decisions with money you've inherited because you didn't work for it...

i think if the hard left had its way, everyone would make exactly the same amount because that is the only 'fair' system. they seem to want everyone to be exactly the same...

The hard left and actually all leftists strive for mediocrity. Mediocrity is the quickest and surest method of destroying a society known to man.

acptulsa
05-31-2011, 08:21 AM
Are you talking about Baby Boomers or Generation X? Because the Boomers came of age before the new emphasis on keeping the rich rich and the poor poor.