Because in the past, it was Media tycoons, publishers, industrialists, bankers who got rich. It often took them their entire lives, their childrens lives. It was 'old money'. Now, it seems many on this list managed to go from zero to super rich in a matter of a few years. Look at Bill Gates. He hasn't always been rich, now he has more money than anybody. It seems the seperation between rich and poor is getting far wider. Most people scrape by, day by day, week at a time. The super rich have more money than they could spend in a lifetime, 10 lifetimes. This isn't the bad part, the world has always been like this. The bad part, it seems the middle class seems to be getting smaller. In times of recession, those who were once well to do are now finding themselves just as broke as the rest of us while the super rich just keep getting even more obscenely wealthy. And it is always on the backs of the poor that they tread.
Even the poorest Americans today are living far better than years before. Really? Are you sure? The socioeconomic seperation that existed in the 60's and 70's wasn't nearly as pronounced as it is today. Have you seen the unemployment rate recently? Millions of jobless people. Declining benefits, declining salaries, shaky job security, citizen's apathy for the declining political system. I can't say I'd agree with you.
Look at Bill Gates. He hasn't always been rich, now he has more money than anybody.
Well, actually yes, he was always rich. His parents were lawyers. Do you think he just got an academic scholarship to Harvard and decided to flunk out? Now, he probably wasn't super-rich like he is now, but most of us would kill someone for $1 million. With the right investing you could live nicely on that for the rest of your life without working.
It never ceases to amaze me that people somehow assume that Bill Gates started life in squalor someplace and pulled himself up by his bootstraps. It is simply not true. His daddy gave him millions to start his little software company. Dell is the same way. Yes he started in a dorm room and his parents garage, but how many college students get enough of an allowance from daddy that they can buy chips from Intel directly, by the semi-load. Most people starting a small business do not get to do so with millions of dollars in gifts sitting in the checking account. I am not saying they did nothing, but it was not rocket science... these kind of gifts makes it a lot easier to get started.
. Look at Bill Gates. He hasn't always been rich, now he has more money than anybody. It seems the seperation between rich and poor is getting far wider. Most people scrape by, day by day, week at a time. The super rich have more money than they could spend in a lifetime, 10 lifetimes. This isn't the bad part, the world has always been like this. The bad part, it seems the middle class seems to be getting smaller.
Mod the parent up. Very perceptive. Rich people get richer because they buy income produci
"This prevents the middle class from being able to buy income producing assets."
Can you tell me why people in middle class can by nice home entertainment systems and computers but not be able to buy income producing assets? One wealthy person I know of drives a rusty old Toyota truck. He can easily buy a nice new mega sized truck, but instead, he invests his free money.
Take a look at the gaming articles on slashdot. There are plenty of slashdotters who spend $$$$ on high end gaming machines, yet bitch
Really? Are you sure? The socioeconomic seperation that existed in the 60's and 70's wasn't nearly as pronounced as it is today. Have you seen the unemployment rate recently? Millions of jobless people. Declining benefits, declining salaries, shaky job security, citizen's apathy for the declining political system.
News for Nerds? (Score:4, Insightful)
Why is this news that the top dogs are getting even richer?
Re:News for Nerds? (Score:3, Insightful)
Even the poorest Americans today are living far better than years before.
Really? Are you sure? The socioeconomic seperation that existed in the 60's and 70's wasn't nearly as pronounced as it is today. Have you seen the unemployment rate recently? Millions of jobless people. Declining benefits, declining salaries, shaky job security, citizen's apathy for the declining political system. I can't say I'd agree with you.
Re:News for Nerds? (Score:5, Insightful)
Well, actually yes, he was always rich. His parents were lawyers. Do you think he just got an academic scholarship to Harvard and decided to flunk out? Now, he probably wasn't super-rich like he is now, but most of us would kill someone for $1 million. With the right investing you could live nicely on that for the rest of your life without working.
Re:News for Nerds? (Score:4, Insightful)
Re:News for Nerds? (Score:3, Insightful)
Mod the parent up. Very perceptive. Rich people get richer because they buy income produci
Re:News for Nerds? (Score:3, Insightful)
Can you tell me why people in middle class can by nice home entertainment systems and computers but not be able to buy income producing assets? One wealthy person I know of drives a rusty old Toyota truck. He can easily buy a nice new mega sized truck, but instead, he invests his free money.
Take a look at the gaming articles on slashdot. There are plenty of slashdotters who spend $$$$ on high end gaming machines, yet bitch
Re:News for Nerds? (Score:3, Informative)
You are full of crap.
US Unemployment Rate since 1948 [bls.gov]
US Inflation Rate History [eh.net]
US Per Capita Income History Since 1950 [infoplease.com]