PDA

View Full Version : The myth of the non-working rich



Peter1469
04-17-2015, 04:17 PM
The myth of the non-working rich (http://www.forbes.com/sites/realspin/2015/04/16/taking-on-robert-reich-and-the-myth-of-the-non-working-rich/)

Gregory attacks the often repeated myth of the non-working rich in the US. Many proponents of the theory cherry pick data and ignore the bulk of available data.


Kaplan and Rau study the Forbes 400 (http://www.forbes.com/forbes-400/) richest individuals in the country ranked by Forbes magazine over a third of a century. They find that:


Only 32% of the Forbes 400 in 2011 belonged to very rich families, down from 60% in 1982.
Those who didn’t grow up wealthy but had some money in the family rose by about the same proportions as those from rich families fell.
Those who grew up poor remained constant at roughly 20% throughout the same period.
Some 69% started their own business in the 2011 survey compared with only 40% in 1982.

Other studies of the 2015 Forbes 400 confirm (http://www.forbes.com/sites/erincarlyle/2013/09/18/how-self-made-forbes-400-billionaires-earned-their-money/) that 69% “scrapped their way on to the list through their own efforts,” and that the number of super rich with 100% inherited fortunes fell (http://blogs.forbes.com/paulroderickgregory/wp-admin/one%20quarter%20%2899%29%20in%201984) from one quarter in 1984 (99 billionaires) to its current 7% ( 28 billionaires).

zelmo1234
04-17-2015, 04:21 PM
I am sorry that does not fit the prescribed liberal talking points. And thus must be considered Blasphemy

You will not be sent to your room for re education

Bob
04-17-2015, 04:36 PM
I am sorry that does not fit the prescribed liberal talking points. And thus must be considered Blasphemy

You will not be sent to your room for re education

:harrr::harrr: