Over 98% of billionaires the US inherited a fortune from their family and over 90% of millionaires did ... unless you are born into money you will die in poverty or just stay alive to pay your bills ...
In this country the belief is ever boy and girl can become a Rockefeller ... guess what they were born in to it!!!!
We should tax the rich like hell ... instead they live in loophole heaven while the middle class feels the whip of the IRS and the good ole taxman!
SO WHY DO YOU STILL BELIEVE IN THE GOOD OLE CAPITALIST AMERICAN SYSTEM ... are you a slave or are your getting your money from daddy???
2006-09-23 19:56:34 · 14 answers · asked by Anonymous in Politics & Government ➔ Politics
I am not generalizing people I said the majority not everyone ... so don't give me your stupid uncle examples ....
2006-09-23 20:04:37 · update #1
I am sick of the Bill Gates example ... he went to HARVARD people not some crappy community college ... IT WAS HARVARD!!! ... Do you still think his parents were poor????
2006-09-23 20:10:07 · update #2
Hey what about Bill Gates
2006-09-24 14:10:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Let's consider the millionaires. You say that the probability that a millionaire inherited his or her fortune is 90%. But we're not interested in this probability. Instead, we are interested in the probability that an average citizen will eventually become a millionaire. You can't obtain the latter directly from the former.
To illustrate, consider the following extreme example. Suppose that 50% of the population are millionaires. Then 45% of the population inherited their status as millionaires. Thus, 5% of the total population achieved their status as millionaires. Because 50% of the population are not millionaires, we see that the number who achieved their status as millionaires is 10% (i.e., 5%/50%) of the population who are not millionaires. The odds look pretty nice to me.
What you need to find is the fraction of the population that are millionaires. You also need to determine a probability that is low enough to warrant the conclusion that one cannot become a millionaire.
Furthermore, would taxing the rich solve the problem of the rest of us never becoming rich?
2006-09-24 03:44:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
because a sucker is born every minute... that's why...
people want to believe that all they have to do is work hard.. I come from a poor conservative neighborhood where EVERYONE WORKED HARD... and I go back and they are just as poor and working just as had as they were when I left...
they all still think they are going to be millionaires one day... that one kid that was really into computers and 10 times smarter than everyone else made it... but that's about it...
I doing better than most, mainly because I got a little lucky... but most didn't get lucky...
those that think they can make it don't have the common sense to look around them and see everyone else who has the same idea and has had the same idea for the past 20 years and no one has done anything but work their butt off every day
I think the problem is... EVERYONE THINKS THAT THEY ARE A GENIUS... when in reality... odds are, you're not... and that's pretty much the only folks that succeed that aren't already rich..
2006-09-24 03:05:31 · answer #3 · answered by Anonymous · 2⤊ 0⤋
The thing people seem to forget about the whole "pull yourself up by your bootstraps" myth is that hard work will not make you rich. Millions and millions of poor Americans work their tails off and are none the wealthier for it.
It takes a bit of money to make money. It takes a lot of luck. It usually takes some connections. It almost always requires a bit of talent. And it certainly takes a bit of know-how. Not everyone has these things. Most people DO try to move up and get ahead but just don't know the right people, know HOW to move up, or just plain fail due to lack of talent or luck.
That doesn't stop the rich and the conservatives from blaming the poor for their poverty though.
2006-09-24 03:04:35 · answer #4 · answered by Skippy 6 · 1⤊ 0⤋
One can still get quite rich through speculation, usually by luck. This is almost always in real estate because only in real estate can you leverage money to any great extent.
Those handling Other People's Money -- most notoriously hedge fund managers -- can get seriously rich, sometimes though not often at the billionaire level. People are crazy: they put up with allowing some hedge fund managers to take 50% of profits PLUS 3% of assets annually. The result is such things as the Amarath disaster last week: http://www.slate.com/id/2150241
The Forbes 400 richest are now ALL billionaires. http://www.forbes.com/400richest/
2006-09-24 02:59:15 · answer #5 · answered by Anonymous · 1⤊ 0⤋
You are an Fing Cry Baby WAA! WAA! daddy didn't give me money. You are so sick with jealousy it pollutes your vision of the world. Bill Gates dropped out of college and became the richest man in the world! There are millions of people doing quite well for themselves who started with nothing. You might want to redefine what you think Rich is. You will always be poor even if you win the lottery, cause you have no understanding.
2006-09-24 03:06:49 · answer #6 · answered by knujefp 4 · 0⤊ 2⤋
leadership has cause what you say to be spoken.
your idea may be dated as i think the computer alone has generated more in the terms of positive ways to despute your statement-wealth-directions in life-Rockefeller had 400 people to do by hand what one cpu can do and who cares about how the few got what they have the negitive effect that you have is why people shouldn't dwell too much on why them and not you, it make what you have not worth living for
2006-09-24 03:20:52 · answer #7 · answered by bev 5 · 0⤊ 0⤋
I don't live to get rich. I am not motivated by money. I make what I need to get by... statistically speaking, I am below the poverty line and qualify for food stamps. I don't need food stamps, though. Even on my low income, I have everything I need... The system is working fine, far as I can tell. Money isn't everything, you know.
2006-09-24 03:04:23 · answer #8 · answered by scruffycat 7 · 0⤊ 1⤋
You forgot we are at war the economy will fall just like the great depression that meant if world war 3 was to ignite tomorrow your money will be taken from you and you will be thrown into the streets. remember as we are heading into biblical war you yourself will be going to HELL. Oh just remember if you read this I put a hexed on it if you read it and in the following months your are heading downhill that's what you get. may god save your soul.
2006-09-24 03:25:22 · answer #9 · answered by Anonymous · 0⤊ 1⤋
Now now now! Don't get pissy just cuz youre a failure!
Richest men in the WORLD! Gates, American, NOT born rich.
Buffet, American, NOT born rich. You tallk out of ignorance. Which is why you are poor.
2006-09-24 03:02:52 · answer #10 · answered by tiny t 1 · 0⤊ 2⤋